By James Sillars, business reporterThe latest inflation data had nothing to shock financial markets at the open.There was movement in the right direction across the figures, leaving expectations for the first Bank of England interest rate cut at June.The rate-setting committee meets this week, with no change to Bank rate firmly on the cards.The Bank has previously said it will hold fire until such time as there is greater visibility on price growth risks ahead.
The cost of a barrel of Brent crude hit levels last seen in October earlier this week, above $87.A multitude of factors are at play on global oil markets, from the conflict in the Middle East to expectations of higher demand in China.The FTSE 100 was just 8 points down at 7,730 in early trading.As for the pound, it was slightly weaker against both the dollar and euro but steady at $1.27 and €1.17.