UK inflation figures for September came in slightly higher than expected. Headline CPI grew 6.7% YoY like in August, while core slowed marginally from 6.2% to 6.1%. We believe that, despite marginally beating consensus, there is probably nothing in this inflation report that would push the Bank of England into another hike in November.

EUR/GBP may correct a bit lower on the back of some hawkish BoE rate expectation repricing today but is then probably heading higher into the BoE meeting as we expect a hold.