Tag Archives: BoE

Bank of England Chief Economist Huw Pill said on Wednesday that wage growth in the UK is running too fast at present, as reported by Reuters.These comments don’t seem to be having a noticeable impact on the British pound’s performance against its major rivals. As of writing, the GBP/USD pair …

The GBP/USD pair prepares to finish the week with hefty losses of 0.78%. US labour data poured cold water on recession fears ahead of next week’s CPI. The GBP/USD tanks reached a fresh weekly low at 1.2002 as a reaction to a stellar US employment report which eases US recession …

WTI crude oil holds lower ground near six-month bottom after declining for the last four days. Fears of economic slowdown, central bank aggression outweigh geopolitical woes linked to China, Russia. US jobs report for July as well as developments surrounding China will be important for fresh impulse. WTI crude oil …

Bank of England (BoE) Governor Andrew Bailey is delivering his remarks on the policy outlook and responding to questions from the press following the bank’s decision to hike the policy rate by 50 basis points to 1.75%. Quotes “We would have had to raise interest rates in double digits last …

Following its August policy meeting, the Bank of England announced that it raised the policy rate by 50 basis points to 1.75% as expected. The policy statement revealed that Monetary Policy Committee (MPC) member Silvana Tenreyro voted to hike the rate by 0.25 basis points.

On Thursday, the Bank of England is broadly expected to hike interest rates by 50 basis points, its largest single increase since 1995. This move would take borrowing costs to 1.75% as the central bank encounters rising inflation and would be the first half-point hike since it was made independent …

Following Wednesday’s voting, Penny Mordaunt has been knocked out of the Conservative leadership contest, leaving Rishi Sunak and Liz Truss to face each other in the run-off to replace Boris Johnson.The winner of the final round is expected to be announced on Monday, September 5, following a postal ballot completed …

The UK Consumer Prices Index (CPI) 12-month rate came in at 9.4% in June when compared to 9.1% seen in May while beating estimates of a 9.3% print, the UK Office for National Statistics (ONS) reported on Wednesday. Meanwhile, the core inflation gauge (excluding volatile food and energy items) eased …

The EUR/USD pair soared to 1.0268 on headlines suggesting the European Central Bank could discuss a 50 bps rate hike when it meets this week. Economic DataThe data published by the US Census Bureau revealed on Tuesday that Housing Starts declined by 2% to a seasonally adjusted annual rate of …

Bank of England Governor Andrew Bailey said on Tuesday that a 50 basis points rate increase will be among the choices at the next policy meeting, as reported by Reuters.The GBP/USD pair extended its daily rally and touched its highest level in more than 10 days at 1.2045. As of …