Inflation bounce set to help BoE hawks’ claims

Industry News | 16/07/18

Data will be published 18 July by the Office for National Statistics to provide the Bank of England (BoE) with the last major pieces of economic data ahead of its 2 August monetary policy committee (MPC) meeting.

Economists expect data this week to show a June jump in inflation, in a development which would boost the hawks on the Bank of England ahead of a crucial decision on interest rates next month.

Consumer price index (CPI) inflation will rise from 2.4 per cent in April and May to 2.6 per cent in June, according to consensus forecasts. The latest data will be published by the Office for National Statistics on Wednesday, providing the Bank with one of the last major pieces of economic data ahead of its 2 August monetary policy committee (MPC) meeting.
A rise in inflation would add to the case put forward by multiple Bank of England economists for an interest rate hike in the near term.
Source: CityAM

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