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UK CPI to remain near zero while employment should improve - ING

FXStreet (Delhi) – Research Team at ING, expect that in the coming week, the highlights will be the labour report and consumer price inflation of UK.

Key Quotes

“We expect headline wage growth to push above 3% YoY, with private sector pay growth fast approaching 4%. We also anticipate that employment will have jumped by more than 150,000 in the past three months, following general election-related weakness in 2Q15. Indeed, while the purchasing managers’ indices were weak, we have been seeing improvements in their employment components.”

“Then, while headline CPI is likely to remain near zero, we would not be surprised to see core inflation rebound somewhat. As such, the possibility of more MPC members joining Ian McCafferty in voting for a rate rise in November could grow.”

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