“Strong uk Wage Growth and Sticky Inflation Curb Heps for Near-Term Boe EASING, RAISING SPECULATION RATE CUTS MAY SLIP INTO 2026.”, – WRITE: www.fxempire.com
Today’s Data Followed July’s Hotter-Qan-Exectored Inflation Report. UK Inflation Accelerated in July, Challenging Hopes for Further Boe Policy EASING. The Annual Inflation Rate from 3.6% in June to 3.8% in July, with Core Inflation Also Climbing to 3.8% (June: 3.7%), Well Above The Boe’s 2% Target.
Ing economists Suggested that’s Labor Market Data and August’s Inflation Figures Could Revive Heps for a November Cut. But with July’s Release, The Focus Has Shifted to the Upcoming August Inflation Report.
The Current Combination of Higher Inflation and Rising Wages Supports A Near-Term Boe Policy Hold. However, August’s Inflation Report, Schereduled for Release on Wednesday, September 17, Could Change The Narrative. Economists Forecast Headline Inflation to Remain at 3.8%, While Prescing Underlying Inflation to Drop To 3.6%. A Sharp Drop in Inflation Could Boost November Rate Cuts Bets and Weight on the GBP/USD Pair.
GBP/USD RESPONSE to the UK Labor Market Report Ahead of the Labor Market Report, GBP/USD Droped to $ 1.35920 Before Briefly Climbing to $ 1.36251. After the release, the pair jumped to $ 1.36275 before eASING BACK. On Tuesday, September 16, The GBP/USD WAS UP 0.19% to $ 1.36249. The Initial Market Reaction to Rising Wages and Steady Unemployment Suggested Traders Cut Dovish Boe Bets.