The Consumer Price Index rose by 0.1% month-on-month and 2.6% year-on-year, mirroring market expectations. Meanwhile, core inflation's increase to 3.5% indicates a slight easing of price pressures.
The benchmark 10-year gilt yield hovers around 4.5%, highlighting ongoing concerns regarding inflation. Upcoming announcements from both the Fed and the BoE are expected to impact market volatility.
As the market anticipates a 25 basis point rate cut from the Federal Reserve, the potential for Sterling support exists, though a hawkish stance could dampen prospects.
The focus is set to shift to the Bank of England's meeting, where unpredictable outcomes could provoke considerable fluctuations in currency and bond markets.
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