LONDON (Reuters) -British households’ expectations for inflation rose in December, based on a survey revealed on Thursday which will add to issues amongst traders concerning the sluggish tempo of future rate of interest cuts by the Financial institution of England.
The month-to-month Citi/YouGov survey confirmed expectations for inflation in a yr’s time rose to three.7% in December, Citi stated, with out offering a determine for November. In October, the studying stood at 3.3%.
For inflation in 5 to 10 years’ time, expectations rose to three.9% from 3.6% in November, Citi stated.
The BoE is making an attempt to gauge how a lot inflation stress stays within the British economic system because it considers when to chop borrowing prices for under the third time since 2020.
Buyers have bought British authorities bonds closely in current days, partly as a result of they fear that inflation is more likely to show too excessive for the BoE to chop charges a lot this yr, hurting financial progress and the federal government’s stretched funds.
Earlier on Thursday, a separate survey revealed by the BoE confirmed British companies anticipated to lift costs in addition to scale back workers numbers in response to a rise in employers’ social safety contributions that may take impact in April.
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