The Bank of England delivered the largest rate hike since 1995, with a 50bps rise in the Bank Rate. However, they also delivered arguably one of the most dovish 50bps hikes in history, thus weighing on the Pound.
The Bank of England delivered the largest rate hike since 1995, with a 50bps rise in the Bank Rate. However, they also delivered arguably one of the most dovish 50bps hikes in history, thus weighing on the Pound to retest the 1.20 handle against the greenback. The BoE projects the UK to enter a recession in Q3, lasting five quarters with GDP falling to 2.1%. What’s more, the BoE raised their expectations of peak inflation, now seen at 13.3% in October, up from above 11%.
Elsewhere, the BoE also highlighted that based on market implied rates, which see the Bank Rate going to 3%, inflation over the three-year horizon is projected to fall to 0.8%. The lowest projection ever over this horizon, therefore sending a clear message that not only do markets remain far too aggressive on the BoE tightening but also that rate cuts could be coming sooner than expected.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
EUR/JPY jumps to weekly highs near 137.90 after NFPThe EUR/JPY jumped following the release of a better-than-expected US employment report. The cross rose to 137.75, reaching the highest level in a wee
Baca lebih lajut »
Rider Strong, Will Friedle: Kissing Girls Weekly on ‘BMW’ Was ‘Creepy’Eric Matthews and Shawn Hunter had plenty of onscreen love interests on BoyMeetsWorld, but how did Will Friedle and Rider Strong REALLY feel about their TV kisses? Exclusive interview:
Baca lebih lajut »
Marc Lamont Hill Joins ‘The Grio’, Will Host Daily TV Show & Weekly PodcastVeteran academic, author, activist and television host Marc Lamont Hill will join AMG’s Black news/entertainment media platform theGrio. Hill will bring his perspectives on culture, politics, race,…
Baca lebih lajut »
Weekly Utah COVID report shows decrease in new casesUtah health officials report 5,150 new cases of COVID-19 over the past 7 days and 28 new deaths. The number of new cases has continued a decrease over the last few weeks, according to the Utah Department of Health and Human Service's weekly report.
Baca lebih lajut »
Neil Gaiman discusses the new Netflix show, Sandman | New Scientist Weekly podcast, episode 130Why do we dream? 😴 There are many theories, but we wanted to hear from the Lord of Dreams Neil Gaiman rowhoop caught up with neilhimself ahead of the new Netflix_Sandman series. Listen on YouTube ▶️
Baca lebih lajut »
AUD/JPY Price Analysis: Bulls attack weekly hurdle above 93.00 on upbeat Aussie dataAUD/JPY Price Analysis: Bulls attack weekly hurdle above 93.00 on upbeat Aussie data – by anilpanchal7 AUDJPY Technical Analysis ForeignTrade SwingTrading Crosses
Baca lebih lajut »