UK inflation is expected to accelerate in October, reducing the chance of another rate cut by the Bank of England

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The Office for National Statistics is due to publish its Consumer Price Index (CPI) report on Wednesday. The UK’s overall CPI is expected to rise at an annual rate in October, while core CPI is expected to fall slightly at an annual rate.

British CPI data may suggest that the UK will suspend interest rate cuts in December, triggering a fall in the pound.

The Office for National Statistics will release the Consumer Price Index (CPI) report at 15:00 Beijing time on Wednesday. The report could provide the latest clues on the Bank of England’s future interest rate path, which could put significant pressure on the pound.

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