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November 2015

UK PMI Construction Dropped to 58.8 for October

Published: Tuesday 03 November 2015

This morning, UK PMI construction dropped to 58.8 for October, which came in line with expectation. Markets didn’t move too much off of the back of this, as focus turns to "Super Thursday", which sees the Bank of England release their monthly monetary policy decision, meeting minutes plus the quarterly inflation report.
No change in policy is expected and Ian McCafferty is also expected to maintain his vote for a rate hike. Nonetheless, the inflation report could contain downward revision in near-term inflation forecast and possibly growth forecast for next year too.

There was some strength seen in Sterling late last week. No news would be good news for the pound and would give it a lift - in particular against the Euro.