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Looks like the Bank of England interest rate decision tomorrow could see the rate unchanged at 5%.
With the UK inflation number coming in a the expected 2.2% this morning, it gives no sway to the Bank of England tomorrow.
The core inflation rate (excludes volatile components of food, energy, alcohol and tobacco) was 0.1% higher than predicted, so this could lean on the BoE to keep rates where they are.
However that's in the past. What's ahead is the tasty part of today.
Later this morning sees the Eurozone inflation number with a drop to 2.2% from 2.6% expected. GBP/EUR could be as volatile today as it has been in the last 24 hours.
However it's the US interest rate decision later this evening that has traders salivating.
Tea time sees the FED release it's decision. And analysts are somewhat on the fence. Most predict a 25 point cut to 5.25%, however some are suggesting a full 50 point cut could be in the offing dropping the rate to 5%.
GBP/USD could be interesting later.
After that, eyes will move to the Southern hemisphere with New Zealand GDP and the Australian unemployment rate.
Business news concludes that the steady 2.2% UK inflation number can be attributed to a balance between much higher air fares to Europe offset by lower prices at the pumps.
EUR: 10:00 Inflation Report
US: 19:00 FED Interest Rate Decision
US: 19:30 FOMC Press Conference
NZ: 23:45 GDP Report
AUS: Thursday 02:30 Unemployment Rate
As ever we look forward to keeping you in the loop and look out for our next update.
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