The pound is strong this morning against both the euro and the dollar, boosted by comments from Bank of England officials over the weekend.
Governor of the Bank of England, Andrew Bailey, said that he is concerned about high inflation and said that action needs to be taken to prevent it from lasting. This indicates that he may be in favour of raising interest rates soon.
Bailey’s message was followed by rhetoric from BoE official Michael Saunders, who expressed worries over labour shortages causing wages to spike, feeding into higher inflation.
Balance of trade and GDP figures will be released for the UK this week, showing how the economy performed in August.
