Looking to the changes for this latest report, there are a couple of things to note.
Also, there was a high reading in air fares sub-category for April, as the collection dates coincided with the Easter holiday. That wasn't the case in 2024 as the Easter holiday fell at the tail end of March. Hence, that should see the higher prices there ease in May.
As such, the report today will not change expectations for the upcoming BOE meetings. The next one tomorrow sees ~88% odds of the BOE keeping the bank rate unchanged. And the next 25 bps rate cut is only baked in for September, with ~50 bps of rate cuts priced in between now and year-end.
This article was written by Justin Low at www.forexlive.com. Read More Details
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