Morning Bid: UK inflation test awaits buoyant markets
Investors will get another chance to see if the global disinflation story gains more traction with UK inflation data taking centre stage on Wednesday. Its outcome though may not significantly affect the Bank of England's policy review the day after.
But the central bank is widely expected to stand pat on rates as policymakers focus on wage growth and service sector inflation, which is estimated to come in at 5.5% in May. The inflation reading and the consequent policy decision will provide investors with some clarity ahead of Britain's general elections in July, with the blue-chipAfter all, it was just last week when mild U.S. inflation readings came in hours before an overall hawkish stance by Federal Reserve officials, who cut their median projection for three quarter-point rate cuts to just one for the year.Sterling remains muted and was last at $1.
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