📆 Wednesday, August 16
► European stocks experienced fluctuations due to intensified worries over China’s economic health. The Euro Stoxx 50 went down 0.8%, other European indices are mixed.
► GBP sees a rise after UK inflation data outpaces expectations. UK's July inflation data reveals a dip to 6.8% from 7.9% in June and thus in-line with expectations. However, core inflation remained at 6.9% and rose faster than expected on a m-o-m view. Decreasing gas and electricity prices helped headline inflation to come down, though it still remains significantly above the Bank of England's target. Gas, fuel and electricity price have also been rising again since the beginning of July.
► Following the UK inflation data, the market's prediction for the Bank of England’s interest rate remained at a high 6%. Recent wage data and US retail sales data spurred concerns that strict central bank policies might endure longer than originally thought.
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