GBP/USD steady after UK inflation data release.

Create at 2 days ago (Feb 19, 2025 22:48)

The UK’s inflation rate rose 3% year-on-year in January, up from 2.5% in the previous month.

Core inflation, which excludes volatile food and energy prices, increased by 3.7%, while service sector inflation surged above 5%. This could prompt the Bank of England to delay cutting interest rates.

However, investors expect the economy to grow by 2.8% in 2024, a figure significantly above the Bank of England’s 2% target.

Source: Fxstreet

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