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UK June CPI +7.9% vs +8.2% y/y expected

UK June CPI +7.9% vs +8.2% y/y expected
Prior +8.7%Core CPI +6.9% vs +7.1% y/y expectedPrior +7.1%The pound is dragged lower as we see consumer inflation miss on estimates for the month of June. This is a positive development for the UK economy, and it does lead to lesser conviction for the BOE to go too overly hawkish. A 50 bps rate hike next month might have to be relooked, as I would think markets may now start to look towards 25 bps instead.GBP/USD is down 0.5% to 1.2965 from around 1.3030 before the data was released... Read More
Posted: Jul 19 2023, 06:00
Author Name: forexlive
Views: 080952

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