The Bank of England hiked interest rates as expected on Thursday by 25 basis points.
The Monetary Policy Committee voted 8-1 to lift rates to 0.75%, with only deputy governor Jon Cunliffe voting against a hike. This marked the third time the Bank has upped interest rates in four months as it looks to combat surging inflation.
Inflation is currently at a 30-year high of 5.5%, versus the Bank’s target of 2%.
With the market now pricing in 1-2 interest rate cuts by the Fed this year, and top US central bank officials including Fed Chair Jay Powell (pictured) holding back in statements this week, from giving any indication of when interest rates might be cut and dashing...
This morning, the Office for National Statistics has reported the latest UK CPI inflation data, showing that prices rose by 3.2% during the year to the end of March 2024, compared to 3.4% the previous month. Market predictions had been for a greater fall. However,...
Yet again it seems that market expectations have been dashed with the March US CPI inflation data coming in at 3.5% compared to expectations of 3.4% year-on-year. The data are likely to make life harder for the US Federal Reserve and expectations of that first all...
This morning, the Office for National Statistics has reported the latest UK CPI inflation data, showing that prices rose by 3.2% during the...
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