{
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British pound struggles as dollar strength overshadows UK inflation data
Despite stronger-than-expected UK inflation data, market sentiment remains bearish on the British pound following a recent rate cut by the Bank of England. The pound briefly rose above $1.27 against the dollar but quickly lost ground, driven by the dollar's strength and the BoE's cautious policy approach. UBS indicates that this trend will likely keep sterling under pressure.
Forexlive | Forex News, Technical Analysis & Trading Tools
British Pound Sterling United States Dollar UBS Bank of England USA GBR Andrew Bailey
TradFi, Market Report
02:28 22.11.2024
europe faces energy crisis with rising prices and manufacturing challenges
Since Russia's invasion of Ukraine, Europe faces a severe energy crisis, with policymakers misjudging the situation. High gas and electricity prices are set to persist, leading to plant closures and job losses in manufacturing, while households will experience rising retail energy costs, exacerbating inflation. Current wholesale gas prices have surged to €47 per megawatt-hour, significantly above the 2010-2020 average.
Bloomberg.com
Euro Bank of England European Central Bank
Finance & Economy, Market Report
06:00 21.11.2024
Bank of England's Ramsden open to rate cuts amid economic uncertainty
Bank of England Deputy Governor Dave Ramsden indicated he might support quicker interest rate cuts if economic uncertainty diminishes in the coming months. Despite October's inflation rising above the BOE's 2% target, he anticipates a trend toward low and stable inflation as the economy normalizes.
bloomberg.com
British Pound Sterling Bank of England GBR Dave Ramsden
Finance & Economy, News Article
18:24 20.11.2024
UK inflation rises to six-month high driven by higher energy costs
UK inflation rose to a six-month high in October, driven by higher energy bills, surpassing the Bank of England"s target rate of 2%. In response to previous low inflation rates, the bank raised its main interest rate by 0.25% to 4.75%, marking the second increase in three months.
Moneycontrol
British Pound Sterling Bank of England GBR
Finance & Economy, News Article
09:04 20.11.2024
British inflation exceeds expectations raising concerns for interest rate cuts
British inflation surged past the Bank of England"s 2% target last month, exceeding expectations. Additionally, underlying price growth accelerated, prompting the BoE to adopt a cautious approach regarding interest rate cuts.
reuters.com
British Pound Sterling Bank of England GBR
Finance & Economy, Market Report
08:12 20.11.2024
boe governor discusses impact of tax rises on interest rate strategy
BOE Governor Andrew Bailey stated that the UK Labour government"s tax increases support a gradual approach to interest rate cuts. He noted that employers may respond to higher National Insurance contributions by raising consumer prices, absorbing costs, slowing wage growth, or reducing hiring.
bloomberg.com
British Pound Sterling Bank of England GBR Andrew Bailey
Finance & Economy, Transcript
12:00 19.11.2024
bank of england warns budget may drive inflation and impact employment
Megan Greene, a Bank of England policymaker, cautioned that Labour"s budget could elevate employment costs and drive inflation higher. She noted that companies might pass increased costs onto consumers, leading to higher prices, while also considering reducing employment or hours worked as potential responses.
bloomberg.com
British Pound Sterling Bank of England GBR Megan Greene Show more
Finance & Economy, Market Report
20:44 18.11.2024
uk inflation rises above target prompting cautious bank of england response
UK inflation is expected to rise to 2.2% in October, surpassing the Bank of England's 2% target for the first time in over three years. This increase may lead policymakers to adopt a cautious approach regarding interest rate cuts.
Bloomberg.com
British Pound Sterling Bank of England GBR
Finance & Economy, Market Report
22:00 16.11.2024
British pound experiences significant decline as dollar strengthens amid economic concerns
The British pound is experiencing its largest weekly decline since January, dropping 2% as the strong US economy outpaces the UK's sluggish performance. Recent data revealed an unexpected contraction in the UK, while the US dollar reaches a yearly high, driven by confidence in US policies.This currency shift highlights the stark contrast between the two economies, with the pound now down 0.4% for the year. As the Bank of England may cut rates to stimulate growth, the Federal Reserve's rates are expected to stabilize around 3.84%, influencing global trade and investor sentiment.
Finimize
British Pound Sterling United States Dollar Federal Reserve Bank of Boston N.A. Bank of England GBR
TradFi, Market Report
13:43 15.11.2024
UK economy shows marginal growth of 0.1 percent in third quarter
The U.K. economy grew by just 0.1% in the third quarter, falling short of the 0.2% forecast, following a stronger 0.5% expansion in the previous quarter. The services sector also saw minimal growth, while inflation dropped to 1.7%, prompting a rate cut by the Bank of England. Finance Minister Rachel Reeves expressed dissatisfaction with the growth figures, emphasizing the need for investment and reform to stimulate the economy.
CNBC
Euro United States Dollar British Pound Sterling Bank of England GBR Donald Trump Suren Thiru Andrew Bailey Rachel Reeves Show more
Finance & Economy, News Article
08:05 15.11.2024
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