Tuesday, 24 March 2009 02:50
So the RPI and CPI figures have been released, and they were much better than expected.Even though the levels did not drop as much as expected, it did hit zero as I predicted, for the first time in 49 years.
RPI was the one we were keeping an eye on (the one which includes housing costs) - it fell to 0% in February on an annual basis from 0.1% in January. Bad news for the UK as it hasnt been at zero since 1961. However as it was expected to be below zero, the better figures have caused a surge in Sterling exchange rates this morning.
Watch out for GDP figures on Thursday. Today we could be seeing a short term spike for Sterling. For those of you that can act quickly, there are opportunities today to buy at much better levels than of late.
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