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UK Autumn statement preview - TDS

FXStreet (Guatemala) - James Rossiter, analysts at TD Securities noted that next Wednesday 25 Nov sees the release of the UK government’s annual Autumn Statement.

Key Quotes:

"The monetary policy implications from this Autumn Statement alone are likely to be muted. A possible increase in fuel taxes would help return total inflation more quickly toward target, but as it’s a one-off effect, it’s unlikely the MPC would pay much attention to it. In fact, stripping taxes out of inflation is probably one of the first things they do when formulating policy.

That said, with such a weak forecast for headline inflation in the most recent Inflation Report, any positive shock would be welcomed, even if temporary, just to get inflation above 1% y/y and the Governor out of letter-writing territory."

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