British inflation has hit a 10-year high | 18 11月 2021

18 11月 2021, GBP/USD

British inflation has hit a 10-year high

GBPUSD trading plan:

British inflation has hit a 10-year high as household energy bills rocket, bolstering expectations the Bank of England will raise interest rates in December. Consumer prices rose by 4.2% in annual terms in October, leaping from a 3.1% increase in September, the Office for National Statistics said. Finance minister Rishi Sunak said rising inflation was not just a British problem and the government was taking action to offset the hit to spending power, even as it scales back most of its coronavirus emergency support. Forecasts by the BoE show it expects inflation to hit around 5% in the coming months before falling back. The BoE looks poised to become the first of the world's major central banks to raise rates since the coronavirus pandemic swept the global economy.

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David Johnson
Analyst of «FreshForex» company
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