UK inflation eases less than expected to 3.2% in March, sparking concerns of U.S.-style stickiness
Publishing timestamp: 2024-04-17 04:27:26
Summary
Inflation in the U.K. eased to 3.2% in March, slightly higher than expected. Investors are pushing back bets on the timing of the first Bank of England rate cut due to higher-than-expected figures. Market pricing shifted with the majority now seeing a rate cut in September or November. Uncertainty remains over central bank actions globally. Some analysts expect a sharp fall in inflation next month, while others warn of potential stickiness in inflation. The British pound strengthened following the announcement.
Sentiment: NEUTRAL
Tickers: @DX.1, EURGBP=, GBP=,
Keywords: economy, inflation, markets, dollar index future (mar'23), euro/uk pound sterling fx cross rate, business news, gbp/usd, breaking news: europe,
Source: https://www.cnbc.com/2024/04/17/uk-inflation-march-2024.html