When is the Bank of England interest rate decision and what is going to happen? Bank of England The Bank of England is going to deliver its interest rate decision today against the backdrop of a shock rise in inflation and a now becalmed banking mini-crisis. Before Wednesday’s surprise increase in inflation to 10.4 per cent, there was speculation about whether the Bank’s decision making body, the Monetary Policy Committee (MPC) would raise [...]
European markets to open higher after Credit Suisse drama as investors split on central bank rate hikes Markets European markets are set to open higher on Tuesday as investors bet that banking turmoil will put a halt to central banks’ battle to contain inflation The FTSE and Frankfurt’s DAX were called up 0.59 per cent while the CAC in Paris was called up 0.47 per cent. After the drama of the past few [...]
Fed set to hike rates by 25 basis points despite turmoil in US banking sector Fed to hike rates The Federal Reserve is expected to raise interest rates for the ninth time in a row later this week despite widespread instability in the US banking sector. According to Fedwatch there is a 62 per cent chance that the Fed will opt for a 25 basis point hike and 38 per cent chance that it [...]
Wall Street stocks tumble: Why Bank of America and Citigroup have been hardest hit after Fed chair Powell’s testimony March 10, 2023 Stocks stumbled on Wall Street on Thursday and added to the week’s losses as markets remain anxious about the prospect of more aggressive action by the Federal Reserve to fight inflation. Major indexes started the day higher and gradually lost ground until they fell sharply in late trading. The S&P 500 fell 73.69 points, or [...]
Over 500,000 US jobs created in January but what does ‘awe upside surprise’ mean for Fed’s rate hike cycle? February 3, 2023 More than half-a-million new jobs were created in the US this month, leading to renewed fears the Federal Reserve could hike up interest rates when it meets next month. Statistics from the US Department of Labor howed jobs rose by 517,000 in January, while the unemployment rate changed marginally, at 3.4 percent. This week the [...]
US economy races ahead of UK despite Federal Reserve crushing Americans with rate hikes January 26, 2023 The US economy is growing much faster than expected despite the Federal Reserve piling pressure on Americans with aggressive interest rate hikes to tame inflation, official figures out today show. Stateside gross domestic product (GDP) climbed 2.9 per cent over the three months to December, better than the 2.6 per cent growth pencilled in by [...]
US economy adds more jobs than expected in headache for Fed January 6, 2023 The US economy added more jobs than expected last month, but cooling wage growth may convince the Federal Reserve to hold off on repeating jumbo interest rate hikes this year, official figures out today reveal. Some 223k Americans bagged a new job last month, down slightly from November, according to data from the US Bureau [...]
Markets cheer US inflation slowdown as Nasdaq flies over five per cent November 10, 2022 Global markets have cheered signs that US inflation is falling much faster than experts expected, dialling down pressure on the Federal Reserve to keep hiking interest rates aggressively. Wall Street’s tech-heavy Nasdaq index flew more than five per cent, while the S&P 500 and Dow Jones shot up more than four per cent and nearly [...]
All market eyes on the Fed today as interest rates are set to rise by another 75bps November 2, 2022 While European markets started the month on a positive note, and look set to continue that vibe this morning, US markets lost their early momentum, finishing the session lower, after the latest job openings numbers, and ISM manufacturing report, showed that the US economy remained in decent shape, despite concerns over an economic slowdown. “We [...]
All eyes on the EU as ECB faces ‘nightmare scenario’ of record inflation and need to hike rates again October 31, 2022 Last week was the fourth successive week of gains for equity markets in Europe as well as the US, despite some high-profile earnings misses. It’s been particularly notable that while there were some notable earnings misses, especially in the tech sector, by and large the more traditional areas of the market have performed better. “While [...]