Resilient Growth, Higher Inflation Strengthen Case for BOE November Rate Rise
Dow Jones10-30 22:33
1433 GMT - The U.K. economy remains resilient and inflation is ticking higher, cementing the argument for the Bank of England to increase interest rates next week, MFS Investment Management's Peter Goves says in a note. The most recent data released earlier this month showed U.K. annual GDP expanded by 2.1% in August, stronger than the 1.6% consensus forecast by economists in a WSJ survey. Annual headline inflation climbed to 3.5% in September. Markets price in a 99.7% chance of a BOE rate increase on November 5, LSEG data show.
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