Intraday Market Thoughts

Archived IMT (2008.10.14)

by Ashraf Laidi
Oct 14, 2008 1:02

GBP FOCUS. Although data releases have taken a back seat to credit markets activity and the latest measures by G-8 governments to alleviate their banks, Tuesdays release of UK Sep inflation may trigger marked reaction. The report is expected to show a 5.0% annual increase in Sep after a 4.7% increase in August, further confirming the inflationary deterioration. Weaker than expected to confirm softening price pressures in the medium term and lend more credence to the notion that the BoE's more serious battle is recession rather than inflation, thus bolstering the probability last weeks BoE rate cut would be followed by further easing next month and cap sterlings gains. ... CONTINUED IN NEXT HEADLINE...


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