MNI China Daily Summary: Monday, October 14

MNI BRIEF: China Sep M2 Rises To Four-Month High

MNI BRIEF: China Foreign Trade Grow Steady; Exports +4.3% YTD

MNI BRIEF: China Foreign Trade Facing Pressure In Q4

CHINA YTD NEW LOANS CNY16.0 TRLN VS MEDIAN CNY16.3 TRLN: PBOC

CHINA SEP EXPORTS +2.4% Y/Y VS MEDIAN +6.0% Y/Y: CUSTOMS

EZ/UK Bond Supply Calendar: Luxembourg Synd; UK, FI Due Tuesday

MNI: CHINA YTD EXPORTS +6.2% Y/Y IN YUAN TERM: CUSTOMS

MNI BRIEF: China Sep CPI Slows To 0.4% Y/Y On Base Effects

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI UK Inflation and Labour Preview - October 2024 Release

It’s another month where both UK inflation data is due for release on Wednesday following labour market data on Tuesday.
HomepageCEEMEAUKGlobalStoryEmployment InsightInflation InsightGlobal IssuanceGlobal Issuance - UKMarketsRegion
MNI (LONDON)
  • It’s another month where both of the biggest UK data releases coincide with inflation data is due for release on Wednesday following labour market data on Tuesday.
  • The MPC will watch the data closely – particularly following Governor Bailey’s comments that the BOE could be “a bit more activist” if inflation good news continues.
  • The August print was a bit softer than the BOE’s forecast (again), particularly for services prices (headline 2.22%Y/Y vs BOE 2.37%Y/Y; services 5.56%Y/Y vs BOE 5.84%Y/Y). However, it is expected the inflation falls by 3-4 tenths to 1.8-1.9%Y/Y on a headline basis (BOE 2.10%Y/Y), with some analysts looking for larger falls to 1.7%Y/Y. This will largely be driven by petrol prices, air fares and other services prices.
  • We continue to think that the most important part of the labour market report is the private regular wage growth. This fell to 4.95%Y/Y in the 3-months to July (rounding down to 4.9%). Most analyst previews that we have read look for it to fall to 4.8%Y/Y in the 3-months to August (to 1dp).

For the full preview see: UK_Data_Preview_2024_10_Release.pdf

178 words

To read the full story

Close

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.
MNI (LONDON)
  • It’s another month where both of the biggest UK data releases coincide with inflation data is due for release on Wednesday following labour market data on Tuesday.
  • The MPC will watch the data closely – particularly following Governor Bailey’s comments that the BOE could be “a bit more activist” if inflation good news continues.
  • The August print was a bit softer than the BOE’s forecast (again), particularly for services prices (headline 2.22%Y/Y vs BOE 2.37%Y/Y; services 5.56%Y/Y vs BOE 5.84%Y/Y). However, it is expected the inflation falls by 3-4 tenths to 1.8-1.9%Y/Y on a headline basis (BOE 2.10%Y/Y), with some analysts looking for larger falls to 1.7%Y/Y. This will largely be driven by petrol prices, air fares and other services prices.
  • We continue to think that the most important part of the labour market report is the private regular wage growth. This fell to 4.95%Y/Y in the 3-months to July (rounding down to 4.9%). Most analyst previews that we have read look for it to fall to 4.8%Y/Y in the 3-months to August (to 1dp).

For the full preview see: UK_Data_Preview_2024_10_Release.pdf