With limited economic and corporate data to work on, the FTSE-100 index of leading UK shares has started the day in a relatively muted tone and this mood could well prevail, with little of note due to be released.
Markets in Asia failed to react in any meaningful way to Janet Yellen’s calls that US interest rates would be increasing very soon, although by all accounts most investors now consider a December rate hike to be a done deal anyway.
Looking at the day ahead, the tempo is likely to remain rather downbeat, too, although we do have a speech from the deputy governor for Monetary Policy at the Bank of England later this morning. In the wake of yesterday’s big jump in retail sales, any notes on how the bank sees this translating into inflationary pressures will be closely followed, although any hints at a rate hike closer to home would seem rather premature.
