UK’s Hunt: We’re on track to halve inflation this year, may see a blip in September

Anil Panchal FXStreet

“We are on track to halve inflation this year and by sticking to our plan we will ease the pressure on families and businesses alike," said UK Finance Minister Jeremy Hunt during the weekend per Reuters.

The policymaker also told the BBC that he thinks of witnessing a blip in inflation in September but also anticipated the fall in inflation to around 5.0% as per the Bank of England (BoE) forecasts.

UK’s Hunt also focused on the goal as he laid out his priorities ahead of the reopening of parliament after the summer break per Reuters.

It’s worth noting that the British policymakers will return to the Parliament after a vacation and may cheer Friday’s revised economic data that showed the UK economy’s faster recovery from the pandemic than previously estimated.

Also read: GBP/USD Weekly Forecast: Technical setup favors Pound Sterling sellers

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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