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Welcome to Wednesday’s Money Minute – in which we preview the big stories of the day in just 60 seconds.
It’s a quiet day ahead of the frenzy that will accompany the European Central Bank’s latest interest-rate decision tomorrow.
In the UK, construction group Galliford Try is reporting its annual results for the year to 30 June. Profits are expected to meet market expectations, but the focus will be on the outlook. Expect to hear lots of references to Brexit uncertainty.
Later, in the US, we get Producer Price Index data for the month of August. This shows how rapidly the prices of goods bought and sold by manufacturers are rising. This is sometimes known as “pipeline” inflation – if costs for companies are going up then eventually those costs are likely to be passed on to consumers.
For now, US producer prices appear to be broadly under control, despite the ongoing trade wars and increases in tariffs on imports from China. That’s partly because the Chinese currency has weakened against the dollar.
In July, the “core” PPI figure rose by 2.1% year on year, and it’s not expected to have changed much in August.