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British Pound: Inflation surge backs November BoE hike – BBH
Brown Brothers Harriman’s Elias Haddad notes United Kingdom (UK) September Consumer Price Index (CPI) surprised to the upside, pushing British Pound (GBP) higher against both the Dollar and Euro. Haddad sees a 25 bps Bank of England (BoE) rate hike to 4.00% on November 5 as largely assured, but argues the swaps curve is pricing too much tightening, which they view as a headwind for Pound performance.
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