* Wall St up for 2nd day
* Asian stocks pulled away from two-month lows
* Dollar dips
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UK inflation is set to be today’s most watched indicator after the BoE surprised investors last week when it said interest rates would probably need to rise sooner and by slightly more than it had previously signalled.
“Headline CPI is predicted to slip back to 2.9% for January, however we could see an upside surprise given that January tends to be a month when travel fares see sizeable increases, rail fares being one such example, while commodity prices are also higher than a year ago”, says Michael Hewson from CMC Markets UK.
The date will be published at 0930 GMT.
MORNING CALL: EUROPE’S BOUNCE BACK SET TO CONTINUE (0615 GMT)
Good morning and welcome to Live Markets.
European bourse are set to open in positive territory and enter a second day of recovery after Asian stocks pulled further away from two-month lows, lifted by Wall Street’s extended rebound.
Financial spreadbetters expect London’s FTSE to open 37 points higher, Frankfurt’s DAX up 88 points and Paris’ CAC to rise 35 points.
Reporting by Danilo Masoni, Helen Reid, Kit Rees and Julien Ponthus