September 20, 2023 06:04 GMT
Huge downside miss for services inflation
- UK services inflation: 6.8%Y/Y. Huge downside miss.
- As noted earlier, BOE had expected 7.2%Y/Y, the median from the 11 previews that we read look for 7.3%Y/Y (albeit with an upward skew).
- GBPUSD down from 1.2390 pre-data to a low of 1.2334 (over 50 pip drop).