UK inflation may call for more caution

Quick Summary:

LONDON: UK inflation probably surged back above the Bank of England’s (BoE) target in October, reinforcing the case for policymakers to act cautiously when cutting interest rates.

The consumer price index due tomorrow rose an annual 2.2%, according to the median of 24 forecasts in a Bloomberg survey.

BoE governor Andrew Bailey will be grilled on inflation and monetary policy when he appears before lawmakers on the eve of the data release.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaCanadaChinaDenmarkHong KongIndiaIndonesiaItalyJapanSouth KoreaNorwayOmanSingaporeSouth AfricaSwitzerlandTaiwanThailand

Topics: Data Expected Week Consumer Rates Growth Month Inflation October Price Bank

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-19 @ 00:00:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 991 words

Reading Time: 6 minutes read

Sentences: 44 lines

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Copyright Owner: © The Star

News ID: 23680923

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