FXStreet (Bali) - As RBS notes, the current monetary policy stance by both the Bank of England and the US Federal Reserve should be on full display this week.
"The similarities and differences between the outlooks for monetary policy at the Bank of England and the US Federal Reserve should be on full display this week."
"The UK and US both release inflation prints tomorrow, and their central banks will each release monetary policy meeting minutes on Wednesday."
"In the US, we match the consensus anticipating the core CPI to hold steady at 1.9% y/y while the headline print slips from 2.1% y/y to 2.0%."
"In the UK, meanwhile, the y/y headline and core readings could both slip by 0.1%, to 1.8% (headline) and 1.9% (core), respectively."
"The CPI prints will not give any hints about emerging wage inflation (or lack thereof), which is a key variable in setting expectations for both BoE and FOMC rate expectations."