Wednesday 19th July 2023

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Markets are still excited about the prospect of inflation cooling, with equities pushing higher in the US. JBWere’s Sally Auld says the fall in the headline inflation rate in Canada was also encouraging, but there was a marginal move down in core inflation. There are more inflation numbers today, with CPI for New Zealand and the UK. The UK will be a focus, with its core rate expected to remain stubbornly high. If it does come in lower than expected that will only fuel hopes that we are fighting the final battles for inflation. But a higher reader could see the BoE pull a 50bp hike out of their hat.

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