Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK DATA
MNI (London)
UK OCT CPI +2.0% M/M (FCST +1.8%); SEP +0.5% M/M
UK OCT CPI +11.1% Y/Y (FCST +10.7%); SEP +10.1% Y/Y
UK OCT CORE CPI +6.5% (FCST +6.4%); SEP +6.5% Y/Y
- UK inflation jumped by 1pp to +11.1% y/y in October, a significant 0.4pp beat on consensus forecasts. This was the highest since Oct 1981.
- According to an ONS spokesperson, without the energy package October headline inflation would have reached +13.8% y/y.
- This surge is above the BOE's anticipated peak of +10.9% y/y around October. Yet core inflation remained on par with September at +6.5% y/y. As such, this data is unlikely to push the BOE toward a more hefty December hike, with a 50bp hike remaining the expected outcome.
- Pricing for the December meeting has increased from around a 45% probability of a 75bp hike to a 55% probability. However, market pricing is known to overshoot.
Source: ONS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok