UK June price data to be effected by BoE's new pessimistic growth outlook?

UK Inflation had recently gathered momentum again, which is masked by base effects in the year-on-year comparison. The UK Office for National Statistics also publishes the June data of the consumer price index today.

But it is not smiles all around either, as the BoE's new pessimistic growth outlook dominates at present, enhanced by the British nervousness about Greece. 

BoE governor Mark Carney is unlikely to provide support for GBP during the Parliamentary Committee hearing, and will instead sound concerned, says Commerzbank.