Webinar: Live Event Coverage: UK CPI (Apr)
- UK inflation hit 2.7% in April, above both the forecast 2.6% and the prior 2.3%.
- That makes a Bank of England interest rate increase more likely and is positive for GBP.
UK inflation was expected to rise to 2.6% in April from March’s 2.3% but, in the event, it came in higher than expected, at 2.7%, making it more likely that the Bank of England will increase UK interest rates. However, such an increase is still a long way away.
A higher-than-expected figure for the increase year/year in the UK consumer price index might have been expected to lift the British Pound but after an immediate jump it quickly fell back, again rejecting the strong resistance level of 1.30.
--- Written by Martin Essex, Analyst and Editor
To contact Martin, email him at email@example.com
Follow Martin on Twitter @MartinSEssex
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