Today, the UK’s Office of National Statistics) released the inflation data for January. The data showed that inflation was at 3%, above the analysts’ estimates of 2.9%. The data was released less than a week after the Bank of England (BOE) held its first meeting of the year. In this meeting, the committee guided that they would introduce rate hikes faster than expected. Reading between the lines, traders found this language to be similar to what they had used in their September meeting. After the meeting, they made their first rate hike in their October meeting. After the data was released, the pound rose 0.65%Read More →