The Bank of England will release its November inflation report and we expect revisions to higher GDP growth and lower inflation. Its forecasts for unemployment will probably attract the most attention as it expects to reach the 7% threshold communicated in its forward guidance. Given the continuing strong rebound in data, we expect it to communicate the threshold to be met somewhat earlier than Q3 16.
Ahead of the inflation report the release of the UK ILO unemployment rate for September could show a fall from the previous level of 7.7%, as the recent claimant count has shown big declines and employment components in PMI surveys have been surprisingly strong.
In the euro area we expect a sideways movement in industrial production in September after it increased 1.0% m/m in August. This implies GDP growth should be 0.3% q/q in Q3. Our expectation for industrial production is above consensus, which is for a decline.
After US market close Bernanke speaks in Washington and focus will be on hints about tapering. Comments on the possibility that the FOMC will lower the unemployment threshold will also attract attention.
To Read the Entire Report Please Click on the pdf File Below.
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Bank of England To Release November Inflation Report
Published 11/13/2013, 07:01 AM
Updated 05/14/2017, 06:45 AM
Bank of England To Release November Inflation Report
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