UK inflation<\/a> unexpectedly rose to 10.4% up from 10.1%. Expectations had been for a fall to 9.9%. Core inflation also unexpectedly rose to 6.2% up from 5.8%<\/p>\nThe data cements expectations of a 25 basis point hike in the BoE MPC meeting tomorrow.<\/p>\n
The euro rose yesterday as as fears over the health of the European banking calmed.<\/p>\n
ECB President Christine Lagarde also said that the current levels of inflation warrant higher interest rates for longer.<\/p>\n
This overshadowed weaker-than-expected German ZEW economic sentiment data which dropped to 13 from 28.1.<\/p>\n
Today ECB President Lagarde is due to speak again.<\/p>\n","protected":false},"excerpt":{"rendered":"
The pound euro (GBP\/EUR) exchange rate is rising after steep losses yesterday. The pound has jumped after UK inflation unexpectedly rose to 10.4% up from 10.1%. Expectations had been for a fall to 9.9%. Core inflation also unexpectedly rose to 6.2% up from 5.8% The data cements expectations of a 25 basis point hike in […]<\/p>\n","protected":false},"author":163946598,"featured_media":5595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394,2410],"class_list":["post-114123","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"\n
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