Bank of England (BoE) Governor Andrew Bailey said that he “expects a ‘marked fall’ in inflation next month,” in his interview with Belfast Telegraph on Friday.
September inflation figures are not far off what we were expecting.
Core inflation fell slightly from what we expected, that is quite encouraging.
We will see more evidence of lower inflation by year-end.
Pay growth still well above anything consistent with inflation target.
At the time of writing, GBP/USD is trading 0.40% lower on the day at 1.2094.