That is a slight enchancment to the month-to-month order e book steadiness in comparison with January, however nonetheless beneath the long-run common of -13. The standout element from the report although is that the expectations for common promoting value inflation rose to +17 in February. That’s up from +9 in January and is the strongest studying since July 2023. If it retains up, that might be a difficulty for the BOE in making an attempt to push the narrative of fee cuts within the months forward.
This text was written by Justin Low at www.forexlive.com.
