The pound is steady against the euro and the dollar this morning ahead of the Bank of England’s monetary policy meeting later.
It’s likely that the Bank will keep quantitative easing and interest rate levels unchanged, but comments from policymakers about the state of the economy and inflation. So far, officials have said that the current high inflation is transitory, and they expect to see it fall to below 2%.
PMI data released yesterday for the services and manufacturing industries showed strong growth in both sectors, despite the figures being lower than record highs recorded in May.
It’s a light day for data releases in the UK today, but consumer confidence figures will be released tomorrow.
