'On the one hand, sticky inflation raises the possibility that the UK economy could tip into a technical recession in 2023. But, it more or less guarantees that the BoE still has a little way to go in raising interest rates', says Matthew Ryan
in March from 10.4% the previous month - but economists had largely expected a figure of 9.8% this time.
"On the other, it more or less guarantees that the Bank of England still has a little way to go in raising interest rates. "This is ultimately likely to be bullish for the pound, and we continue to see plenty of room for more upside in the UK currency," Mr Ryan added.When is the next interest rate announcement and how much will it rise?
Therefore, he expects the base rate to go up from 4.25% - the current rate - to 4.5% in the next announcement, which is due on 11 May.
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