General view of the Bank of England building in London. Sopa images | Light rocket | Getty Images It keeps the central bank’s policy rate at a 16-year high of 5.25%, where it has been since August 2023. Seven members of the Monetary Policy Committee voted in favor of maintaining it, while two members favored … Read more
LONDON — Britain had some reason to celebrate Wednesday morning as headline inflation hit the Bank of England’s 2% target for the first time in almost three years. But the print only served to convince further traders that an interest rate cut is not imminent. Money market pricing at 11am in London implied only a … Read more
Money market pricing at 11am in London implied just a 5% probability of a bank rate cut at Thursday’s BOE meeting – after registering stronger odds earlier in the week. Bets on an August cut were also cut to around 30%. While 2% inflation is an important milestone – not least as UK politicians set … Read more
Sun Jun 2, 2024 7:29 PM EDT CNBC Pro: Profits at these five global banks will remain high despite an ECB rate cut, Berenberg says Despite a rate cut expected this week, profits at a handful of major European banks will remain robust, according to Berenberg. One of the lender’s shares could rise more than … Read more