Chances of May interest rate cut rise after UK inflation falls to 2.8% – business live
Rolling coverage of the latest economic and financial news, as pound dips after February’s inflation report
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Sterling is weakening a little, after UK inflation fell by more than expected this morning.
The pound has lost nearly a third of a cent against the US dollar to $1.2915.
The market reaction to this data has been minimal, as the focus remains on the Spring Statement later today.
The pound has dropped slightly, but GBP/USD is down less than 20 pips so far on Wednesday, the bond markets are not open, but we think that UK Gilts will also have a mild reaction to this data. Continue reading...
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