UK Inflation Rate Continues to Fall
Following last week’s BoE quarterly inflation update where the central bank lowered its near term inflation forecast, today’s easing in Britain’s inflation reading came as no surprise. With the core inflation measure holding strong, led by robust wage growth, market participants will keep tabs on tomorrow’s labour market report to ascertain if spare capacity in UK’s jobs market continues to ease.
In the Euro zone, Greece’s failure to reach an agreement with its international lenders in yesterday’s Euro group meeting has heightened concerns of a Greek exit from the bloc. Today, traders will eye the ZEW sentiment survey in the Euro zone for further direction. Across the Atlantic, the NAHB survey is anticipated to show that optimism among home builders strengthened for February.