UK consumer price inflation remained unchanged in January, data from the Office for National Statistics showed on Wednesday. The consumer price index advanced 4.
The British pound continues to lose ground on Wednesday. In the European session, GBP/USD is trading at 1.2546, down 0.35%. UK inflation holds steady at 4.0%
(Bloomberg) Bank of England Governor Andrew Bailey said weaker-than-expected inflation in January “pretty much leaves us where we were” after the data prompted traders to shift forward bets on interest-rate cuts.Most Read from BloombergThe Brutal Reality of Plunging Office Values Is HereWall Street Regains Footing After CPI-Fueled Rout: Markets WrapMusk Says Putin Can’t Lose in Ukraine, Opposes Senate BillDemocrat Suozzi Wins Back NY House Seat Vacated by SantosA ‘Clerical Error’ in Lyft Outl
Asian markets move up a gear on Thursday as the region's economic calendar fills up, with the general mood likely to be one of optimism following the rebound in most asset classes the previous day. China is still closed but markets in Hong Kong and most of Asia are up and running after the Lunar New Year break, and the local highlights on Thursday will include fourth quarter GDP figures from Japan, Australian unemployment and an interest rate decision from the Philippines. A faster-than-expected fall in UK inflation on Wednesday might have helped calm some nerves too.