Market News
Sterling edges up after jump in UK inflation - REUTERS
LONDON, Feb 19 (Reuters) - The pound edged up on Wednesday, after data showed UK consumer inflation rose faster than expected in January, weakening the case for the Bank of England to deliver another two rate cuts this year.
The Office for National Statistics said its consumer price index rose at an annual rate of 3% in January, above forecasts for a rise of 2.8%. Services inflation, something the BoE has flagged as an obstacle, rose at a rate of 5%, from 4.4% in December, but was below expectations for rise of 5.2%.
