UK CPI Rises Slightly
UK December CPI data will be released on Wednesday at 07:00 GMT by the ONS/Office for National Statistics and is a market focus as it could indicate rising inflationary pressures. Consensus expects headline inflation to edge up to 3.3%, while core inflation is considered to remain "sticky" and remain above 3.0% annually.
This CPI figure is crucial for the Bank of England (BoE) policy direction and typically directly impacts the value of the pound (GBP). Ahead of the MPC meeting on February 5, many markets are betting the BoE will hold interest rates at 3.75%, but this week's CPI release could determine how "hawkish" or "dovish" the BoE's tone will be at the meeting. (asd)
Source: Newsmaker.id