Bank of England Set to Hold Interest Rates as Inflation Risks and Iran War Impact Loom 
Dollar Holds Firm as Middle East Tensions and Central Bank Decisions Keep Markets on Edge 
Asian Stocks Mixed as BOJ Holds Rates, Oil Prices and Fed Outlook Weigh on Markets 
Gold Prices Drop Amid Iran War Concerns, Rising Oil Costs, and Hawkish Central Bank Signals 
Iran Proposes Strait of Hormuz Reopening Deal Amid Stalled U.S. Talks 
U.S.-Iran Tensions Escalate as Strait of Hormuz Crisis Disrupts Global Oil Markets 
Yen Strengthens as BOJ Signals Rate Hikes; Asian Currencies Slip Ahead of Fed Meeting 
Asian Stock Markets Rally as Japan and South Korea Hit Record Highs Amid Oil Price Concerns 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
According to latest report from BRC, shop prices are in decline at record pace in November, posing considerable doubts over bank of England's (BOE) ability hike rates. After maintaining the rhetoric for quite some time, in last monetary policy meeting and inflation report, BOE has scaled back their expectations for both inflation and interest rates.
According to BRC, UK shop prices declined for record 31st month, down -2.1%, after dropping 1.8% in October. Downward pressure on prices are quite significant.
- Detailed report shows, clothing and footwear prices are down -6.3% y/y, DIY, gardening and hardware down -4.7%, books, stationary and home entertainment prices are down -4.6%, Electricals are down -4.3%, overall non-food items are down -3.3%.
Official reading of annual inflation rate was -0.1% in October. It seems, November won't be much different.
Yesterday, manufacturing PMI report came at 52.7, weaker than prior and halted Pound's advance against Dollar around 1.512.
Pound is currently trading at 1.506, awaiting the construction PMI report.
