UK Inflation Beats Expectations at 3.5%
UK CPI rose more than expected to 3.5% in September, complicating the Bank of England's rate path and pressuring sterling assets.
What we know
The Financial Times reported UK inflation rose to 3.5% in September, ahead of consensus. European equities remained broadly flat (FTSE, CAC, DAX, IBEX all near unchanged), suggesting markets may be digesting the print cautiously.
How the story developed
UK CPI rose more than expected to 3.5% in September, complicating the Bank of England's rate path and pressuring sterling assets.
Foreign central banks pulled 40 tonnes of gold from the NY Fed in August while adding 46 tonnes at the Bank of England, a significant custody shift with geopolitical undertones.
Sources
“UK inflation rose more than expected to 3.5% in September”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.