For more like this, sign up to Money Morning, our free daily email.
In the UK today we get the latest news on inflation. The Bank of England is tasked with trying to maintain inflation in a range of 1% to 3% a year. Currently, the Bank is having no trouble meeting its target. In September, inflation came in at just 1.7%. It’s expected to have remained broadly similar or to have slowed even further in October.
We’ll also get the latest official UK house price index reading – that’ll give us the annual house price change for September.
Inflation data is due in the US too, where it’s a similar story to the UK. Prices rose at an annual rate of 1.7% in September, with little change expected for October.
Meanwhile, the chairman of the Federal Reserve, Jerome Powell, will speak to US politicians about the economic outlook. It’s unlikely that he’ll say anything market moving. He has no obvious reason to depart from his current line that interest rates in the US have been cut far enough for the time being.