UK Sept Inflation Accelerates Beyond Expectations; Public Borrowing Hits 5-Year High; GBP Trades at Recent Peaks

English summary

UK September CPI rose to 3.5% YoY and core CPI to 2.8%, strengthening expectations for a Bank of England rate hike in November. Meanwhile, public sector net borrowing hit £24.5bn, a five-year high, raising fiscal sustainability concerns. GBP/USD trades near 1.340 as markets await next week's budget and the central bank meeting.