Financial markets started the week in a calm fashion, despite US President Donald Trump’s threat to “totally destroy” North Korea, with investor attention largely focused on the outcome of the Federal Open Market Committee (FOMC) meeting.

Headline Consumer Price Inflation for August rose by 0.3% to 2.9%, higher than market expectations of 2.8% and the Bank of England’s (BoE) own projection of 2.7%.

Equity markets largely shrugged off last Sunday’s grave news that North Korea said it had successfully tested a hydrogen bomb that can be loaded onto a missile, together with rumours that it was preparing for a possible launch of another intercontinental ballistic missile.

The weekend symposium in Jackson Hole, an annual gathering of global central bankers, failed to provide fresh insight into monetary policy for the US and Europe. So, expectations of guidance on unwinding extraordinary monetary policy have been pushed out to September meetings.