{"id":9832,"date":"2023-09-10T21:24:35","date_gmt":"2023-09-10T21:24:35","guid":{"rendered":"https:\/\/prosfunds.com\/news\/uk-inflation-expectations-rise-in-august-citi-yougov\/"},"modified":"2023-09-10T21:24:36","modified_gmt":"2023-09-10T21:24:36","slug":"uk-inflation-expectations-rise-in-august-citi-yougov","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=9832","title":{"rendered":"UK inflation expectations rise in August -Citi\/YouGov"},"content":{"rendered":"
\n

LONDON (Reuters) -The British public’s expectations for inflation over the medium to long term, which are closely watched by the Bank of England, rose in August, a survey published on Friday showed.<\/p>\n

Inflation expectations in five to 10 years’ time marginally rose to 3.3% from 3.2% in July, the survey by U.S. bank Citi and polling firm YouGov showed.<\/p>\n

Public expectations for inflation in 12 months’ time increased to 4.4% from 4.3%.<\/p>\n

The BoE is widely expected to raise interest rates for the 15th time in a row on Sept. 21 as it grapples with the highest rate of inflation among the world’s big rich economies.<\/p>\n

Expectations for Bank of England policy tightening are now their lowest since June, following surveys this week showing a softening outlook for inflation and Governor Andrew Bailey’s comment that a peak in rates was now “much nearer”.<\/p>\n

Rate futures at 1400 GMT showed a 69% chance of a quarter-point rate rise to 5.5% on Sept. 22 after the BoE’s next meeting, down from more than 80% early this week. The chances of a further rate rise to 5.75% stood at 46% by December and peak at 49% by February 2024, with investors expecting cuts in rates to begin in around a year’s time.<\/p>\n

However, analysts believe two more hikes might be overkill and the BoE is more likely to deliver just one more. Investors are starting to prepare for this eventuality too.<\/p>\n

Citi said it expects the data to continue to ease in the months ahead as headline inflation falls. <\/p>\n

“However, these data re-affirm that upside risks around energy in particular over the coming winter could continue to pose challenges,” Citi economist Benjamin Nabarro wrote in a note to clients. <\/p>\n

The data “remains consistent with the idea that weak growth alongside restrictive rates are now having the desired effect, with a growing proportion now expecting much lower long-term inflation, as well as some still expecting much higher.” <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON (Reuters) -The British public’s expectations for inflation over the medium to long term, which are closely watched by the Bank of England, rose in August, a survey published on Friday showed. Inflation expectations in five to 10 years’ time marginally rose to 3.3% from 3.2% in July, the survey by U.S. bank Citi and […]<\/p>\n","protected":false},"author":1,"featured_media":3924,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[38],"tags":[],"class_list":{"0":"post-9832","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\nUK inflation expectations rise in August -Citi\/YouGov | Prosfunds<\/title>\n<meta name=\"description\" content=\"LONDON (Reuters) -The British public's expectations for inflation over the medium to long term, which are closely watched by the Bank of England, rose in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=9832\" \/>\n<meta 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