With the BOE having a less dovish MPC vote in their latest meeting, an upside CPI surprise could tilt the odds further away from further easing.
Our Event Guide for the U.K. CPI Report notes that the central bank projects that headline inflation could shoot up to 3.7% in April, which is way higher than market expectations.
Here’s what I’m watching on EUR/GBP and GBP/NZD in this case.
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