By William Schomberg LONDON (Reuters) - The Bank of England will announce on Thursday whether it is halting a run of interest rate hikes that stretches ...
By William Schomberg LONDON - The Bank of England will announce on Thursday whether it is halting a run of interest rate hikes that stretches back to December 2021, a day after signs that itBy William Schomberg
Goldman Sachs and other banks ditched their previous calls for one more rate increase and investors put a roughly 50% chance on a pause by the BoE, up from just 20% on Tuesday. BoE Governor Andrew Bailey and his colleagues on the Monetary Policy Committee have faced intense criticism after consumer price inflation surpassed 11% in October last year.
Whether it raises rates one more time or not, the challenge for the BoE is likely to be to convince investors that it will stick to its guns and not rush to cut rates even as Britain's already fragile economy shows signs of weakening. British inflation is almost double the rate in the United States, where the Federal Reserve on Wednesday kept borrowing costs on hold.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of England on brink of rate hike pause after inflation surpriseThe Bank of England will announce on Thursday whether it is halting a run of interest rate hikes that stretches back to December 2021, a day after signs that it had turned a corner in tackling Britain's high inflation problem. Investors piled into bets on the BoE keeping Bank Rate at 5.25% on Wednesday as soon as official data showed a surprise fall in the pace of price growth. Goldman Sachs and other banks ditched their previous calls for one more rate increase and investors put a roughly 50% chance on a pause by the BoE, up from just 20% on Tuesday.
Read more »
Bank of England's Woods says impairments among banks are risingMarket News
Read more »
Sterling hovers at three-month low ahead of Bank of England meetKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Read more »
UK pay deals lose more steam as Bank of England meets on ratesLONDON (Reuters) - Pay deals awarded by British employers lost more of their inflationary heat, according to data published on Wednesday, a day before ...
Read more »
UK inflation in surprise fall in August, though Bank of England still set to raise ratesLONDON (AP) — Inflation in Britain fell unexpectedly in August to its lowest level since the start of Russia's invasion of Ukraine, which led to sharp rises in energy and food costs. The Office for National Statistics said Wednesday that inflation, as measured by the consumer prices index was 6.7% in the year August, down from 6.8% in July. The decline took inflation to its lowest level since February 2022. It said that lower hotel and air fare costs and a moderation in food price rises. They he
Read more »
Investors reel in Bank of England rate hike bets after inflation shockMarket News
Read more »