The Bank of England's MPC voted 5-4 to keep Bank Rate at 4% at its November 5 meeting, in line with expectations. Four members favored a 25 bps cut to 3.75%, reflecting growing support for easing. Policymakers noted that CPI inflation has peaked and underlying disinflation is developing, aided by still-restrictive policy, lower wage growth, and easing services inflation. A sluggish economy and increasing labor market slack are also strengthening disinflation. The MPC said the risks to achieving the 2% target are now more balanced: inflation persistence has become less of a concern, while...
The UK 10-year gilt yield rose to 4.66% as investors awaited the government's spending review this Wednesday, which will set departmental budgets through 2029. The UK economy has shown resilience despite global uncertainty, with stronger business surveys and a solid Q1 GDP pointing to recovery from a weak end to 2024. However, concerns remain about high public debt levels, and the public is eager for improvements in living standards, according to Finance Minister Rachel Reeves. Markets expect the Bank of England to keep interest rates steady at its June 19 meeting. This week's key UK data...
Three top aides to US President Donald Trump will meet with their Chinese counterparts in London on Monday for talks aimed at resolving a trade dispute between the world's two largest economies that has unsettled global markets. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent the United States in the talks, Trump announced in a post on his Truth Social platform without providing further details. China's foreign ministry said Saturday that Vice Premier He Lifeng would be in Britain between June 8 and June 13,...
China's Consumer Price Index (CPI) dropped at an annual pace of 0.1% in May after declining 0.1% in April, the National Bureau of Statistics of China reported on Monday. The market consensus was for a 0.2% decrease in the reported period. Chinese CPI inflation came in at -0.2% MoM in May versus April's 0.1% increase. China's Producer Price Index (PPI) fell 3.3% YoY in May, following a 2.7% decline in April. The data came in lower than the market consensus of 3.2%. Market reaction to China's inflation data At the press time, the AUD/USD pair is up 0.30% on the day to trade at...
Top U.S. and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two superpowers that has widened in recent weeks beyond tit-for-tat tariffs to export controls over goods and components critical to global supply chains. At a still-undisclosed venue in London, the two sides will try to get back on track with a preliminary agreement struck last month in Geneva that had briefly lowered the temperature between Washington and Beijing and fostered relief among investors battered for months by U.S. President Donald Trump's...
According to the US Bureau of Labor Statistics on Friday (02/05), US nonfarm payrolls rose to 139K in April. This figure is up from the estimate of 138K. Meanwhile, Average Hourly Earnings m/m data increased by 0.4% and Unemployment Rate is not change at 4.2% Source: Newsmaker
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
The U.S. Supreme Court's tough questioning of President Donald Trump's global tariffs has fueled growing speculation that they will be overturned, but it also raises the potential for further...