UK think tank says UK inflation to remain well above target - see a BoE rate hike today

Reuters reporting on new economic forecasts published by the UK's National Institute of Economic and Social Research (NIESR):

• estimated annual consumer price inflation will be 5.4% in the final quarter of 2023 - well above forecasts from the Bank of England of 3.9%
• NIESR projected full-year consumer price inflation would be 7.4% in 2023 and 3.9% in 2024
• NIESR expects the BoE to raise its key interest rate later on Thursday to 4.5% from 4.25%, in what would be its 12th consecutive rate increase
• BoE is unlikely to bring inflation back to its 2% target until late 2025, NIESR predicts

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Earlier:

• Deutsche Bank no longer thinks GBP is attractive. Also, expects a dovish BoE surprise.

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