This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. But May's inflation reading for the U.K. was a scorcher: Inflation last month remained unchanged from April, while core inflation actually rose from 6.8% to 7.1% year over year. Turkey's welcome hikeTurkey's central bank — under its new governor Hafize Gaye Erkan — doubled the country's interest rate from 8.5% to 15%. Yet market strategists from UBS and JPMorgan Chase and are already warning that the stock market may be overvalued.

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Persons: BOE's, BOE, Hafize Gaye Erkan —, Recep Tayyip Erdogan's, Jerome Powell, Martin Gruenberg, Ocado, JPMorgan Chase Organizations: CNBC, of England, Federal, Nasdaq, Dow Jones Industrial, UBS, JPMorgan Locations: —