The Bank of England might cut interest rates “as soon as this month” due to declining costs in the services sector, according to a closely monitored survey.
Sterling has surged to its highest level against the euro in nearly two years
On Wednesday morning, the pound reached its strongest position against the euro since August 2022, climbing by as much as 0.3%.
The FTSE 100 on track for worst run in nine months
The FTSE 100 is on track for its worst run in nine months amid a sell-off of blue-chip utilities and gaming giant Flutter.
Goldman Sachs predicts the Bank of England will lower interest rates in August.
Despite last month’s higher-than-expected inflation rates, major investment banks, including Wall Street’s Goldman Sachs and Paris-based BNP Paribas, forecast that the Bank of England will begin to reduce borrowing costs
Xi Jinping moves quickly to rejuvenate the Chinese real estate sector
China has unveiled a series of initiatives to revitalise its struggling property market following the sharpest decline in house prices in a decade.
Bank of England official acknowledges ‘consistent and significant’ mistakes
Swati Dhingra, an external member of the Bank of England’s Monetary Policy Committee, admitted to “persistent and systematic” errors in the bank’s inflation forecasts during a conference at King’s College
The Bank of England maintains interest rates at a 16-year peak; two members dissent, favoring a reduction.
The Bank of England has decided to maintain interest rates at 16-year highs, aligning with market expectations.
FTX creditors to receive full repayment in positive resolution
FTX creditors are to be fully reimbursed following the collapse of the cryptocurrency exchange in late 2022.
The FTSE 100 has hit a new record high
The FTSE 100 has reached a new all-time high, fueled by optimism that the UK might lower interest rates more quickly than the US.
London’s blue-chip index FTSE 100 has closes at a record high
The FTSE 100 reached a new all-time high, leading the week as Europe’s top-performing market due to a reduction in Middle Eastern tensions.
Oil, Gold prices drop following intelligence reports that missile attacks have ended.
Gold and oil prices receded on Friday afternoon after initially spiking due to Israel’s overnight attack on Iran.
Economists caution that markets will likely stay volatile going into the weekend.
European stock markets have plunged due to escalating tensions in the Middle East.