UK inflation drops to 2.3% YoY in April, beats estimates fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.
Pound Sterling traders keenly await the release of the high-impact Consumer Price Index (CPI) data from the United Kingdom (UK) on Wednesday, for fresh hints on the timing of the Bank of England’s (BoE) first interest rate cuts this year, as the BoE policymakers continue to push back against expectations of early rate cuts.
The Bank of England (BoE) is set to hold its policy rate for a fourth meeting in a row on “Super Thursday.” It will be the United Kingdom (UK) central bank’s first policy meeting of 2024, and it is expected to set the direction for the Pound Sterling (GBP) market in the months to come.
With increased bets for an interest cut by the Bank of England (BoE) as early as April, the all-important Consumer Price Index (CPI) data from the United Kingdom (UK) will be closely scrutinized for gauging the timing of the BoE policy pivot and its impact on the Pound Sterling.
The high-impact US Consumer Price Index (CPI) inflation data for December will be published by the Bureau of Labor Statistics (BLS) on Thursday at 13:30 GMT.