The prime minister faces growing pressure from the conservative party to re-write the chancellor’s recent mini-budget plan, following the market-turmoil it caused. At the 1992 committee, Liz truss admitted that Kwarteng’s fiscal event had been rushed, and that “the ground could have been prepared better” with markets.
With the recent turbulence sterling has faced, it is impossible to know for sure where the pound will be moving forward. See what major banks are predicting for the next quarter and beyond in our latest quarterly forecast out later this morning.
In the eurozone, inflation takes centre stage for the remainder of the week, however there will be no surprises for markets as they’re final readings. We’ve just seen Germany’s annual inflation rate this morning which rose to 10%. This latest rate is the highest on record (since the 1990’s reunification), but is in line with market expectations. France’s annual inflation data will be out tomorrow.
For the US, inflation data will also be released at lunchtime today, and we will also see EIA gasoline stocks change at 4pm UK time.
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