ONS out with survey a short while ago 26 Oct
- April 2017 vs April 2016 adjusted for inflation
- first fall in this measure since 2014
Lest the BOE want any reminder that real wages remain a concern. If they think inflation is peaking around current levels and around this time do they really want/need to hike ?
I stand by my argument that any hike is only to pre-empt falls in the not so distant future and thus create some wiggle-room. Ditto US Fed.
Full report from the ONS here
Meanwhile GBPUSD continues its reality-check retreat to test 1.3200 with EURGBP up to 0.8941 but EURUSD lower at 1.1805