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- UK long-run inflation expectations hit record 4.8% - Citi/YouGov
UK long-run inflation expectations hit record 4.8% - Citi/YouGov
British households' expectations for average inflation over the next five to 10 years jumped to a record-high 4.8% in August, well above the Bank of England's 2% inflation target, a monthly survey from Citi and YouGov showed on Wednesday, reported Reuters.
The news gains major attention amid the biggest monthly jump in the UK’s 10-year borrowing cost since 1986.
The survey also mentioned that the public expectations for inflation over the coming 12 months rose to 6.3%.
GBP/USD slides
The survey fails to impress GBP/USD buyers amid broad US dollar upside, mainly due to the risk-off mood, as well as the political pessimism in the UK.
Also read: GBP/USD Price Analysis: Downside momentum loss to support cable, 1.1650 a critical hurdle
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