The Bank of England may face increased pressure to raise interest rates again following upcoming UK economic data releases. The figures, expected in the coming days, could show a stabilizing jobs market and a one-year high in inflation, according to Bloomberg Terminal.
Consumer-price growth is anticipated to reach 3.6% in data due on Wednesday, driven by rising motor fuel costs and higher household energy bills. These factors are likely to strengthen the case for another rate hike by the central bank.
The potential increase in inflation comes amid broader economic indicators suggesting a more stable employment landscape. This combination of factors could influence the BOE's decision-making process in the near term.