UK September CPI likely to be -0.1% y/y

UK September CPI data is due today. There is also a deluge of central bankspeak, again most notably in the UK. The most hawkish (McCafferty) and most dovish (Haldane) MPC members, but most interesting will be comments from new member Vlieghe. 

Vlieghe is before the Treasury Select Committee this morning and, aside from the fact that he voted for unchanged rates at his first two MPC meetings, little is known about his views on policy or the economy. Much of the session is, however, likely to focus on any potential conflicts of interest caused by links with his previous employer, Brevan Howard. 

"UK CPI inflation for September is expected to be -0.1% y/y, down from 0.0% y/y last month and 0.1% points below consensus. The sanguine pricing of UK forward rates (full rate hike now pushed out to 2017) means GBP should respond more to upside than downside data surprises", says RBC Capital markets.