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UK and Eurozone inflation data in focus today – Danske Bank

Analysts at Danske Bank points out that in the UK, CPI inflation data for June is due out at 10:30 CEST and will be a key economic release for today’s session.

Key Quotes

“It is the last major data release before the Bank of England meets on 2 August, and inflation needs to surprise significantly for the BoE to change its plans to raise the Bank Rate at the next meeting.”

“Today, we get the final euro area HICP figures for June. From the country figures released in advance, there is a risk that core inflation will be revised lower to 0.9% from 1.0%, indicating that the underlying inflation pressures still remain fairly weak.”

“Fed Chair Powell continues his semi-annual testimony this afternoon before the House Financial Services Committee. Powell did not change the current policy signal yesterday and the second day is usually less interesting than the first.”

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