This prompted speculation that there would not be rate cuts in the coming months as this would purely push inflation even higher, although with the economy in the middle of such a sharp slowdown, it will be hard for people to survive for too long without some easing.
So far today Sterling has lost 0.25% against the Euro and 0.15% against the Dollar, which suggests that investors are thinking along the same lines that we are still not clear of rate cuts in the near future.
This is a brief summary of todays report. Click here to read the full report on our main website
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Have a great day and thanks for reading!
Daniel Wright
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