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...Markets at present anticipate three 0.25 percentage point cuts by the Fed and Bank of England this year, while for the European Central Bank it is closer to four....
...Sterling extended early losses against the dollar to trade down 0.4 per cent on the day at $1.273 after the Bank of England held rates at a 16-year high of 5.25 per cent for the fifth consecutive meeting...
...Private investors have piled into UK government bonds this year to lock in attractive yields as the Bank of England has kept interest rates at a 16-year high....
...Banks are expecting the UK to ramp up its borrowing plans in the new financial year as chancellor Jeremy Hunt prepares to announce tax cuts while Britain faces a surge in the number of existing gilts in...
...Mary McDougall...
...The bank said in a proxy filing also released on Monday that “an orderly CEO transition in the medium term” was a top priority for its board of directors....
...Markets initially shrugged off the central bank’s statement....
...The National Bank of Hungary accelerated the speed of rate cuts following a 0.75 percentage point cut in January....
...But Pill also said that keeping policy restrictive “does not necessarily mean leaving bank rate unchanged”....
...Interest rate sensitive 2-year gilt yields nudged down 0.06 percentage points after cooler than expected UK inflation data prompted traders to raise bets on Bank of England interest rate cuts....
...The UK will issue £265.3bn of gilts in 2024-25, according to budget documents, higher than £258.4bn expected by banks ahead of the announcement. Gilts sold off following the release of the numbers....
...Prime Minister Rishi Sunak welcomed the figures, describing them as “further evidence that the economy has turned a corner, with growth in both January and February and the Bank of England forecasting growth...
...The euro nudged lower on Thursday, down 0.2 per cent against the dollar at $1.0721, after the European Central Bank’s widely anticipated decision to hold rates at 4 per cent....
...US investors have become more cautious than the Federal Reserve on expectations of interest rate cuts this year, betting the central bank could reduce rates fewer than three times after a spate of strong...
...On Thursday, the European Central Bank signalled it was still on course to deliver interest rate cuts in June....
...Those include record levels of central bank buying, Chinese households looking for havens for their money or the war in Ukraine and the Middle East....
...Traders in swaps markets continue to bet on a likely 0.25 percentage-point Bank of England interest rate cut by August and two or three cuts by the end of the year....
...The central bank is also keenly watching wage increases and other labour market data....
...as most big central banks have started discussing interest rate cuts....
...The largest four central banks that engage in so-called quantitative tightening — the Fed, ECB, Bank of England and Bank of Canada — reduced their government security holdings from $11.5tn in 2021 to $10tn...
...Sterling slid against the dollar after wage growth in the UK slowed slightly more than expected, supporting expectations that the Bank of England will deliver multiple interest rate cuts this year....
...Traders slightly increased their wagers on interest rate cuts from the Bank of England this year despite official figures which showed that the UK economy returned to growth in January....
...The price of gold has surged to a record high, driven by growing expectations of US interest rate cuts, investors hunting for haven assets and months of prodigious buying by central banks and Chinese investors...
...Traders in swaps markets moved to price a 72 per cent probability that the Bank of England will deliver its first quarter-point rate cut by June, up from a 40 per cent chance before official figures on Wednesday...
...In his annual letter to shareholders, the head of the largest US bank by assets said JPMorgan had plans for interest rates going above 8 per cent and as low as 2 per cent....
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