Tag Archives: bank of england

The British Pound (GBP) plummeted against the US Dollar (USD) on Thursday, shedding nearly 1% after the Bank of England (BoE) delivered a surprise interest rate cut. The GBP/USD pair tumbled to a low of 1.2359, reflecting the market’s reaction to the BoE’s unexpectedly dovish stance and subsequent forecasts of …

Britain’s economic output edged up by 0.1% in November compared to October, marking the first increase in three months. However, the rise was below the 0.2% expansion predicted by economists in a Reuters poll, according to data released Thursday by the Office for National Statistics. The modest growth followed two …

UK inflation data for December came in cooler than expected, providing some relief to policymakers at the Bank of England (BoE) ahead of their February meeting. The figures suggest a window for the central bank to consider reducing interest rates, especially as the economy continues to face challenges. Key Inflation …

The Bank of England (BoE) opted to maintain its Bank Rate at 4.75% on Thursday, reflecting a cautious approach to monetary easing as inflation pressures continue to challenge the central bank’s medium-term objectives. Rate Decision Details Policymakers voted 6 to 3 in favor of leaving rates unchanged, a more decisive …

British inflation surged to its highest level in eight months this November, reaching 2.6% on an annual basis, compared to 2.3% in October. This marks a sharp climb from September’s 1.7%, the first time inflation dipped below the Bank of England’s (BoE) 2% target in over three years. While this …

Britain’s public finances faced mounting pressure in October as borrowing levels exceeded expectations, posing a significant challenge for Finance Minister Rachel Reeves. Official data from the Office for National Statistics (ONS) revealed that public sector net borrowing reached £17.4 billion ($22 billion) in October, well above the £12.3 billion forecast …

Bank of England Deputy Governor Dave Ramsden expressed confidence in the UK’s inflation trajectory, suggesting that a recent uptick in October’s CPI data is a temporary blip. He believes that inflation will continue to decline, allowing the central bank to maintain its easing monetary policy.Key points from Ramsden’s remarks:Inflation Outlook: …

Inflation in the United Kingdom unexpectedly surged in October, pushing consumer price growth back above the Bank of England’s (BoE) 2% target. The increase in underlying inflation pressures suggests that the central bank may need to tread carefully when considering interest rate cuts. Consumer prices rose by an annual 2.3% …

The GBP/USD currency pair experienced a sharp decline on Tuesday, shedding nearly 1% of its value. This significant downward movement was primarily driven by a confluence of factors, including a strengthening US dollar, rising UK unemployment rates, and lingering concerns about the UK’s economic outlook.The GBP/USD pair is facing significant …

The Pound Sterling is trading cautiously on Friday, as the Bank of England (BoE) signaled a more gradual approach to interest rate cuts. The central bank’s decision to reduce its benchmark rate by 25 basis points, while in line with the Federal Reserve’s move, was accompanied by a less dovish …