Week ahead

Markets pricing in another rate rise from Bank

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New data on the cost of living will emerge this week

Inflation and government borrowing figures are due on Wednesday, followed on Thursday by the Bank of England’s interest rate decision, providing a dose of data on the cost of living and attempts to bring it down.

The headline CPI rate is expected to show inflation dipping to 8.5% from 8.7% for May, with core CPI barely predicted to ease at all from 6.8%.

Markets are pricing in a quarter-point interest rate rise at the meeting of the Bank’s monetary policy committee to 4.75% on the back of the recently released wage inflation figures.

Further rises could follow in August, September, November and December to take the base rate to 5.75%.

“That is expected to be the peak, but the first cut is not expected until June 2024 – a year from now,” says Russ Mould, investment director at AJ Bell.

“One other possible guide to the direction of future policy is how the MPC votes. Last time around it was 7-2 in favour of the 0.25% increase, but a narrowing of that gap might – might – suggest a peak is nearly upon us.”

Premier Inns owner Whitbread updates on trading amid reports that it is looking to sell some of its pubs and restaurants, which include chains such as Brewers Fayre and Beefeater.

Former Scottish First Minister and SNP leader Nicola Sturgeon will return to the Scottish parliament a week after her arrest in connection with a police probe into the party’s finances.

She has insisted she has done nothing wrong, but opposition MSPs will keep up the pressure on her successor to suspend her from the party.

The SNP will hold its delayed Independence Convention in Dundee on Saturday.

Labour leader Sir Keir Starmer will kick off the week in Edinburgh on Monday with further details of his energy policy, with expectations that there will be commitments on jobs, the green transition and plans for a state-owned energy company.


Monday 19 June

  • Full-year results from Volex
  • Rightmove UK house price index
  • Labour leader Sir Keir Starmer unveils energy vision in Edinburgh

Tuesday 20 June

  • Full-year results from IG Design
  • Trading statement from SThree

Wednesday 21 June

  • Full-year results from Halfords
  • UK inflation figures
  • UK Government borrowing figures

Thursday 22 June

  • Full-year results from DS Smith, Mulberry and Speedy Hire
  • Tradin update from Whitbread
  • Swiss National Bank interest rate decision 
  • US weekly unemployment claims

Friday 23 June

  • Full-year results from Naked Wines

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