The Labour Party begins its annual conference, its first in power for 15 years, as it seeks to navigate economic challenges and a recent controversy over donations. The pound has surged to its highest level in two-and-a-half years following the Bank of England's hawkish rate hold, but strategists warn that the upcoming UK budget could impact investor sentiment.
Labour kicks off its annual party conference on Monday, its first in power for 15 years, as its leadership seeks to push past a recent controversy over donations and pledge to "rebuild Britain."has jumped to its highest level in two-and-a-half years following a hawkish rate hold from the Bank of England, but strategists warn the upcoming U.K. budget could pose a risk to investor and consumer sentiment.
"The BOE does genuinely seem to be questioning whether inflation will come down as much as elsewhere in the world ... certainly does not seem to be in the Fed camp of signaling the 'all-clear' on inflation," Turner said.– which rose to 5.6% from 5.2% in August – and wage growth, which is also holding above 5% on an annual basis.Sterling's gains last week built on a longer-term trend, with analysts broadly identifying positives to the U.K.
"This looks likely to increase pressure on the Bank to quicken the pace of the cutting cycle if fiscal policy is tightened by more than currently laid out by the previous government," Dickens said.
Labour Party Uk Economy Bank Of England Inflation Budget
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