FTSE 100 futures off earlier lows after UK inflation misses estimates

The Pound has just now steadied and it is not that much lower after the latest UK CPI and RPI inflation reports. Granted they did miss estimates on all counts, but in reality we are talking chump change here. That said, the FTSE 100 has reacted positively to the news. Prior to the release it was pricing an opening near 8,655. That call has just been elevated to around 8,685. The truth about this CPI data though, is it not enough of a fall to prompt the BOE into a rate cut, based on purely its own merits. Also to note here folks; later this morning we have the Spring statement from the UK chancellor and that is now more important for the FTSE 100 today(and the Pound too), after this inflation data seems set to fade in the market memory. Rachel Reeves is due to address the House of commons on that at around 12.30pm GMT.