Prior +2.2%Core CPI +3.6% vs +3.5% y/y expectedPrior +3.3%
Coming into today, traders had been pricing in ~63% odds of the BOE keeping the bank rate unchanged tomorrow. And the inflation numbers here pretty much solidifies the notion that they will keep rates unchanged in September. That especially since services inflation ticked back higher from 5.2% in July to 5.6% in August.
This article was written by Justin Low at www.forexlive.com.
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