UK Inflation Report May Spark Volatility Ahead of BoE Decision

The UK's Office for National Statistics (ONS) is set to release its highly anticipated Consumer Price Index (CPI) data for August on Wednesday at 06:00 GMT.

This inflation report could trigger significant volatility in the British Pound (GBP), particularly as it coincides with the Bank of England's (BoE) monetary policy decision just one day later.

The BoE is expected to keep its policy rate unchanged at 3.75%, but a further acceleration in price pressure could strengthen expectations of an interest rate hike in the coming months.