GBP/JPY advances towards 160.00 ahead of United Kingdom Retail Sales data GBPJPY BOJ BOE Inflation SEO
. December’s CPI report has shown a consecutive decline in the inflation trend for the first time since the Covid-19 pandemic period, led by declining energy prices. The United Kingdom has been one of the laggards in slowing down the pace of inflation.
Earlier, Bank of England policymakers cited rising wages as responsible for escalating inflation. Bargaining power has been shifted in the favor of job-seekers due to a shortage of labor.For further guidance, investors will keep an eye on the United Kingdom Retail Sales data, which is scheduled for Friday. As per the projections, the annual Retail Sales data could contract by 4.1% vs. a contraction of 5.9% reported in the prior same period.
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