<p>UK data – GfK Consumer Confidence for September 2022 comes in at -49</p><ul><li>expected was -42, prior -44</li></ul><p>-49 is its lowest level since records began in the mid-1970s</p><p>Reuters note the further slump came despite:</p><ul><li>Truss’s statement on capping household energy bills</li><li>Joe Staton, client strategy director at GfK, said rock-bottom readings for the survey’s forward-looking gauges were especially worrying. The survey follows much weaker-than-expected retail sales data for August. “Consumers are buckling under the pressure of the UK’s growing cost-of-living crisis driven by rapidly rising food prices, domestic fuel bills and mortgage payments,” Staton said. </li></ul><p>—</p><p>Overnight in the UK:</p><ul><li><a href=”https://www.forexlive.com/centralbank/boe-raises-bank-rate-by-50-bps-to-225-as-expected-20220922/” target=”_blank” data-article-link=”true”>BOE raises bank rate by 50 bps to 2.25%, as expected</a></li></ul><p><a href=”https://www.forexlive.com/centralbank/boe-raises-bank-rate-by-50-bps-to-225-as-expected-20220922/” target=”_blank” data-article-link=”true”>U</a>K PM Truss</p>

This article was written by Eamonn Sheridan at forexlive.com.