GBP/JPY finds cushion around 167.30 as focus shifts to UK Inflation and BOE policy – by Sagar_Dua24 GBPJPY BOJ BOE Inflation Recession
GBP/JPY is gauging support around 167.30 amid expectations of an extension in BOE/BOJ policy divergence.Food price inflation in the UK economy is propelling consensus for headline CPI figures.
A poll on Bank of England’s interest rate hike expectations taken by Reuters states that the central bank will add another 50 basis points next week and take borrowing costs to 3.50%, despite the economy falling into recession. The rampant inflation in the United Kingdom needs further policy tightening to bring exhaustion in the inflationary pressures.
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