UK Inflation Rises to 4%, Dashing Hopes of an Interest Rate Cut
UK inflation rose by 4% in December, the Office for National Statistics (ONS) reported, thereby outpacing the 3.8% rise predicted by economists. Higher than the 3.9% rise in November, December's inflation surge was largely driven by a 16% annual rise in tobacco prices, followed...
Global Central Bankers Convene to Discuss Final Interest Rate Decisions of 2023
Central bankers from half of the Group of 10 territories with the most-traded currencies are set to convene to determine their final interest rate policy decisions for this year. Overall, 60% of the world economy is set to determine their interest rate decisions by...
Sterling Tanks Ahead of Bank of England Policy Meeting
The sterling recorded its largest weekly fall against the yen in a year, with the Japanese currency receiving a major boost after the country's central bank suggested that it would implement a change in monetary policy. On Friday, the sterling was slightly higher against...
Stocks Rally as Markets Expect Central Banks to End Rate Hikes
Global stocks rose on Wednesday as cooler-than-expected inflation readings in the US and the UK have convinced investors that the US and UK central banks will bring their rate hikes to an end.
In New York, the S&P 500 advanced a further 0.3% after rallying...
Bank of England Holds Rates at 15-Year High
The Bank of England decided to keep interest rates unchanged at 5.25% at its policy meeting on Thursday, keeping them at a 15-year high. The Monetary Policy Committee voted by a majority of 6-3 in favor of keeping rates unchanged, marking the second time...
Bank of England Expected to Forecast Recession Risk Ahead of General Election
Market analysts are expecting the Bank of England to forecast a challenging economic period for the United Kingdom in the months leading up to the next general election. This places pressure on UK Prime Minister Rishi Sunak, who will be required to call an...