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The Bank of England has decided to postpone the next monetary policy meeting by one week until September 22 to allow for a period of mourning following the death of Queen Elizabeth II. This will give the Monetary Policy Committee more time to consider the key inflation and employment data that will be released next week.
The presentation by Chancellor of the Exchequer Kwasi Kwarteng of the tax plan that outlines the cost of the measures to reduce energy bills announced yesterday by the new prime minister Liz Truss is also expected across the Channel.
UK inflation travels to 40-year highs at 10.1% and the Boe could lean towards a 0.75% rise this month along the lines of the Fed in recent months and the ECB yesterday.