The pound is still strong against both the euro and the dollar. Despite lower than expected inflation figures released this morning, inflation remains above the Bank of England’s 2% target and is predicted to rise in the coming months. It is still, therefore, widely expected that the Bank of England will raise interest rates before the end of the year.
Reports this morning reveal that the NHS Confederation is calling for a strategy to reduce the rising number of Covid cases in the UK. However, Business Secretary, Kwasi Kwarteng, has said that it is not time to implement the government’s ‘plan B’ and has called for people to take their booster jab.
Inflation data will also be released for the eurozone later today and is expected to rise slightly. Any surprise readings could impact the euro.
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