Less Chance For Rate Hike? UK Inflation Rate Lowest Since Nov 2009

U.K. inflation fell below the Bank of England’s (BoE) target in January to its lowest annual level since November 2009.

Consumer prices rose 1.9 percent year-on-year last month, below the 2 percent target set by the central bank. Month-on-month prices declined 0.6 percent.

Bank of England Governor Mark Carney last week unveiled the “next phase” of forward guidance – which initially tied the bank rate to the country’s unemployment rate after a sharp fall in jobless numbers took the central bank by surprise. Since its independence in 1997 the BoE’s main task has been to manage inflation, but since the financial crisis, it has been taking a broader role in bolstering the country’s economy.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu