Daily Alert – Wednesday 20th December 2023: UK inflation drop pressures BoE

Mark NugentDaily Alert, December 2023

Daily Alert – Wednesday 20th December 2023: UK inflation drop pressures BoE

Good afternoon.

Today, inflation in the UK has taken a significant step downwards. Headline CPI, which is the key measure for the Bank of England (BoE), came in at 3.9% against an expectation of 4.4%. Last month’s number was 4.6%. The clamour for the BoE to reduce interest rates, with the economy showing essentially zero growth, is mounting and I suspect, will soon become irresistible.

I am getting the sense that the markets have had it for the year. I know I have. It’s not easy this stuff. All is calm and most prices are meandering. I won’t be looking for any trades tonight.

I will be back tomorrow.

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