The United Kingdom's expectations for consumer inflation rose to their highest level over the coming year in just nearly 3-years, a monthly survey by bank Citi and polling firm YouGov showed on Wednesday, reported by Reuters.
The reported also cited that the short-run consumer inflation forecast climbed to 2.6 percent, up from 2.4 percent in December result, the highest since December 2013 and above their long-run average of 2.4 percent.
On the other hand, the Bank of England (BoE) is expected to hold its first monetary policy meeting for 2017 on Thursday, February 2. The central bank is widely expected to maintain its interest rate at a historic low of 0.25 percent amid stronger than expected lift in inflation was more broad-based than widely anticipated and recovery in economic growth.
All but one of the 67 economists polled by Reuters expected that the BoE would keep its policy unchanged when it announces the outcome of the latest meeting of its rate-setters on next Thursday.
Britain's economy grew faster than expected in Q4 2016, according to a preliminary GDP release from the Office for National Statistics on Thursday. According to the ONS' data, GDP grew by 0.6 percent in the quarter, in line the consensus forecast of economists who saw growth increasing by 0.5 percent.
Moreover, the BoE forecast in November that consumer inflation would increase 2.7 percent by the end-2017, supported by weak pounds due to Brexit uncertainties.
Citi said longer-run inflation expectations for the next five to 10 years were unchanged at 3.0 percent, their joint-highest level since 2014. The survey was based on a sample of 2,023 adults polled between January 20 and January 23, reported by Reuters.


New Zealand Unemployment and Inflation Debate Intensifies Ahead of 2026 Election
Oil Prices Drop as U.S.-Iran Talks Ease Supply Concerns
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed
BOJ Rate Hike Expectations Rise as Weak Yen and Strong U.S. Jobs Data Increase Pressure
Indonesia Passes New Central Bank Law, Raising Investor Concerns Over Policy Independence
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks
100+ Global Companies Push Governments to Prioritize Electrification for Economic Growth
South Korea Central Bank Holds Interest Rates Steady Amid Inflation Concerns
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low
Taiwan Central Bank Likely to Keep Interest Rates Unchanged Through 2027
Oil Prices Steady as U.S.-Iran Truce Uncertainty and Middle East Tensions Keep Markets on Edge
ECB Set to Raise Interest Rates as Energy Shock Fuels Eurozone Inflation Concerns
ECB Keeps July Rate Options Open Amid Iran War Energy Price Risks 



