UK CPI: Inflationary pressures should prove temporary - HSBC

Dhwani Mehta FXStreet

Analysts at HSBC out with a brief insights on the upcoming UK CPI report due tomorrow at 0830GMT, saying that they believe the inflationary pressures should prove temporary.

Inflation in the UK has overshot the BOE’s 2% target, coming in at 2.9% in last month.

Meanwhile on the BOE monetary policy action going forward, HSBC noted: “We believe the UK is in the midst of a structural and political upheaval that warrants inaction from the BoE. If the BoE were to hike, we think it could actually lead to GBP weakness rather than strength."

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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