RBC Bank

“UK INFLATION WON’T CHANGE BOE VIEW MATERIALLY”

Key Quotes :

”The view of the Bank of England’s Monetary Policy Committee shouldn’t be influenced “materially” by Tuesday’s U.K. inflation data, which showed the smallest annual inflation rate since July, says RBC.

 

It should be expected that the minutes of the meeting [on Thursday] validate widespread expectations of a 25 basis points hike in bank rate in May,” RBC says. EUR/GBP is back to roughly the same levels it was before the data was released, last down 0.2% at 0.8771. Data showed U.K. annual CPI fell to 2.7% in February, from 3.0% in January. It remains well above the BOE’s 2.0% target

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