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BoE Tomorrow could be hurt by a decisive FOMC today


Like the ECBThe BoE It seems The risk of second round effects is increasing the fear factor. A background of A tight labor marketr Including the central bank. Brexit is partially responsible for the slow growth of the workforce following the relaxation of virus restrictions. To retain and attract staff, businesses are required to pay higher wages. According to data from the REC (Recruitment and Employment Confederation), its measures of permanent staff demand declined for a second consecutive month. This suggests that upward pressure is at an all-time high.

UK CPI inflation fell more than anticipated. The headline rate fell to 10.7%, from 11.1% the month before. CPIH declined to 9.3%. Both readings were lower then consensus predictions. More importantly, core inflation declined – to 6.3% from 6.5%. RPI dropped to 14.0% from 14.2%, and RPIX fell to 13.5% from 13.9%. That doesn’t mean inflation is no longer a problem. With CPI and RPI in double digits, these numbers won’t be able to stop wage demands or prevent strikes from taking place over the holiday period. The lower than expected number will…

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