Forex News – Soft UK inflation pressures sterling
Posted on August 19, 2014 at 9:49 am GMTUK inflation data released today pushed sterling lower as the softer numbers will likely ease pressure on the Bank of England to raise interest rates soon. The headline inflation number came in well below the BoE’s target 2% rate. According to the Office for National Statistics the Consumer Price Index (CPI) for July rose 1.6% year-on-year. The drop was more-than-expected, as analysts had forecast a decline to 1.8% from June’s 1.9%. On a month-to-month basis, consumer process fell 0.3%. The [..]