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Clare Lombardelli, Deputy Governor of the Bank of England, told the Guardian that she does not rule out a rate hike at the December meeting. For a market accustomed to expecting cuts from the British central bank, this is a reversal in tone.
On the morning of November 2, the head of the Bank of Japan once again signaled readiness to raise the key rate. No specific dates or figures were announced, but for the market this is not the first such hint in recent months.
The Bank of Japan kept its short-term rate at 1.25% with an 8-1 vote and noticeably tightened its language: core inflation hit the 2% target for the first time since 2013. The yen is strengthening, USD/JPY falls for the third day in a row.
Today at 09:00 Moscow time, the UK reports its September consumer price index. Consensus is +3.4% year-on-year vs 3.1% in August. If the figure is confirmed, this will be the third consecutive month of acceleration.
The Office for National Statistics (ONS) reported that unemployment fell to 4.7% in the three months to August, versus 4.9% in the previous quarter. This is the lowest in more than a year, and the market had expected the previous level to be maintained.
The dollar is declining against major currencies for the second session in a row. EUR/USD rose to 1.1230, while USD/JPY fell below 158.00 amid a pullback in US Treasury yields and a decline in the geopolitical premium.
