Expectations for a Bank of England rate cut before the end of the year are on the rise after the release of cooler than expected PPI figures for December.
U.K.’s December Input PPI was down 1.1% m/m (expected -0.6%; last 0.6%) but up 16.5% yr/yr (expected 18.0%; last 19.2%).
U.K.’s December Output PPI was down 0.8% m/m (expected 0.3%; last 1.0%) but up 14.7% yr/yr (expected 16.4%; last 17.5%).