UK CPI YoY came out at 3% matching market expectations. This reading confirms a positive streak for UK CPI as last month reading was 2.9%. Last time inflation hit 3% in UK it was 2012.

The rate hike in November is almost a done deal with market pricing it with a chance of 81.8%. It still remains unclear if the BoE will be required to take further actions after this hike. For any future step anyway it might be important to evaluate the wage growth and the pound strength.