Posted 12/20/2023, 5:30:00 AM
UK Inflation Data in Focus - Implications for BOE Policy Pivot and Pound
- UK's consumer price index (CPI) for November to be released on Wednesday, expected to show inflation remaining above the BoE's 2% target despite easing price pressures
- Headline CPI forecast at 4.4% year-over-year, core CPI at 5.6%
- CPI data critical for gauging timing of expected BoE policy pivot and rate cuts next year
- Further decline could boost GBP if seen reducing chances of rate cuts as early as June
- GBP/USD upside targets at 1.2750 and 1.2794 if data reinforces hawkish policy outlook