Sterling eases after inflation falls more than forecast 5:40am EDT [Reuters]
The Bank of New York Mellon Corporation (BK)
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Source: Reuters
Sterling eases after inflation falls more than forecast | Reuters 3 Min Read LONDON (Reuters) - The British pound weakened on Wednesday after inflation fell more than expected in September, easing a squeeze on consumers, who are also seeing the strongest wage growth for workers in a decade according to other data. The better-than-expected wage figures on Tuesday had pushed the pound higher and briefly redirected attention to the British economy and away from Brexit negotiations and this week’s European Union leaders’ summit. But weaker-than-expected consumer price data, which came in at an annual rate of 2.4 percent in September versus forecasts of 2.6 percent, pushed down a pound already weakened by a BBC report that Britain would not seek to extend the Brexit transition period. “Sterling came under a little pressure, but in truth it was already under pressure after the suggestion that there wouldn’t be an extension,” said Neil Mellor, a strategist at BNY Mellon. “As important as the
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