Sterling is weaker this morning as a Bank of England policymaker has said that he will vote for a rate cut at the end of this month, unless economic data shows a significant improvement. This follows Mark Carney’s comments earlier last week. He said that there could be a “relatively prompt response” from the Bank of England if economic uncertainty persisted.
Today, we’ll see a series of data releases for the UK, including Balance of Trade, GDP and Manufacturing figures this morning. GDP is expected to be unchanged month-on-month and is expected to fall by 0.1% over a 3-month average.
We’ll also see a flurry of releases on Wednesday, including Inflation Rate and Retail Price Index figures.
