Following a subdued (somewhat monotonous) week, the economic calendar will give us more to get our teeth into this week.
Following a subdued week, the economic calendar will give us more to get our teeth into this week. US and UK CPI inflation Along with several tier-1 data releases, the focus this week consists of inflation data from the US and the UK on Tuesday and Wednesday, respectively. In the US, you will recall year-on-year inflation was unchanged at 3.7% in the twelve months to September, and the core measure for the same period eased to 4.1%, down from 4.3% in August.
The sizeable decline in headline inflation will be largely on the back of base effects from utility prices. Year-on-year core inflation is also expected to slow to 5.8% over the same period, down from 6.1% in September . You may remember that the Bank of England held the Bank Rate steady at 5.25% at the last MPC meeting on 2 November, marking a second consecutive meeting where the MPC pressed the pause button.
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