UK CPI in line with expectations, 2019 growth downgraded - Scotiabank
|Analysts at Scotiabank explained that the UK CPI rose 3.0% y/y in Dec, down a tenth from 3.1% in Nov, in line with expectations.
Key Quotes:
"Core inflation dipped a tenth as well to 2.5% but that was a little better than forecast (for 2.6%).
Government house price data suggest that the modest lift to prices nationally in the past few months is extending (+5.1% y/y, down slightly from an upwardly revised +5.4%) while London house price growth remains soft (+2.3%)."
"UK forecasters expect the UK economy to growth 1.6% this year and revised the 2019 outlook down slightly to 1.4%, according to Bloomberg.
The GBP rose modestly against the softer EUR earlier and is trading a little more defensively against the stronger USD."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.