020 7898 0500Sterling continued its good end to last week by making further gains against the US dollar yesterday. Traders were bracing themselves for a busy week of economic data, culminating in a meeting of BoE members on Thursday.
While nobody is anticipating an interest rate rise this time around, it could be that we receive an indication of future policy which might signal that rates could rise faster than economists expect especially if inflation does increase as noted below.
Later today, we have inflation data and retail price data due to hit the wires. Inflation is expected to rise to 2.8% from 2.6% in July which could influence the decisions that the BoE make towards the end of this week.
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