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Doubts Starting to Surface About An August 2 Bank Of England Rate Hike

Doubts Starting to Surface About An August 2 Bank Of England Rate Hike

12 Months ago | July 22, 2018 00:00:00

John M. Bland, MBA, co-founder, Global-View.com


June U.K. Inflation Data Miss Consensus Estimates Markets were surprised on Wednesday after the June CPI data fell short of street estimates. The month on month CPI was uchanged at 0.0% vs. estimates for a gain of 0.20% and the yr/yr reading was 2.40% vs. 2.60% estimated. Core CPI was 1.90% vs 2.10%. Headline CPI remained above its target, but well below the six year high of 3.10% set in November. Following the release, street probabilities for an August 2 rate hike fell to 74% vs. 83%. Some also are taking note of the recent declines in crude oil prices will

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