October's greater heading and core inflation figures might offer the BoE more factor to stand pat in December.
Professional Views on the UK Inflation Report
Michael Brown, Senior Research Strategist at Pepperstone, just recently mentioned on BoE Monetary Policy Committee Member Catherine Mann's views on inflation, mentioning,
“Doesn't appear like Mann will elect cuts whenever quickly.”
Catherine Mann explained UK services inflation as “quite sticky,” with many inflation indications indicating an upward predisposition. Mann likewise highlighted dangers from prospective energy cost spikes.
GBP/USD Response to Inflation Data
Ahead of the UK inflation report, the GBP/USD dropped to a pre-report low of $1.26710 before reaching a high of $1.26950.
Following the inflation report, the GBP/USD briefly dropped to a low of $1.26741 before increasing to a high of $1.27134.
On Wednesday, November 20, the GBP/USD was up 0.17% to $1.27030.
