GBP looks in need of more aggressive rate support – Scotiabank GBPUSD CPI BOE InterestRate Banks
The May data showed headline CPI rising 0.7% in the month and accelerating to 8.7% in the year. Core CPI rose to 7.1% in the year and my calculations show the 3m annualized core rate holding above 12%, underscoring the sharp pick up in core prices since the start of the year.
The GBP, which slumped close to a cent on the USD around the data, looks in need of more aggressive rate support.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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