UK CPI rises 8.7% YoY in April vs. 8.2% expected.
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- UK CPI rises 8.7% YoY in April vs. 8.2% expected.
- Monthly UK CPI arrives at 1.2% in April vs. 0.8% expected.
- GBP/USD rises above 1.2450 on upbeat UK CPIs.
more to come …
The Bank of England (BOE) is tasked with keeping inflation, as measured by the headline Consumer Price Index (CPI) at around 2%, giving the monthly release its importance. An increase in inflation implies a quicker and sooner increase in interest rates or the reduction of bond buying by the BOE, which means squeezing the supply of pounds. Conversely, a drop in the pace of price rises indicates looser monetary policy. A higher-than-expected result tends to be GBP bullish.
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