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International Trade Global Update - Cambridgeshire Chambers of Commerce
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4 Articles
International Trade Global Update - Cambridgeshire Chambers of Commerce
GBP The Bank of England held rates at 4.25 per cent as expected Thursday, although the vote split showed a slightly more dovish outcome than forecasted, with three members voting for a rate cut. The minutes highlighted signs of labour market easing, potentially giving the MPC room to look through above-target inflation and cut interest rates in August’s meeting. Markets are currently pricing this in at a 76 per cent probability. UK year-over-yea…
Mahmut Akten, General Manager of Garanti BBVA, one of Türkiye’s leading private banks, announced that they expect a 300 basis point reduction in July. Akten also predicts that year-end inflation will fall below 30 percent and interest rates will be at 36 percent.
Weak UK job market may allow interest rate cut, while trade tariffs delay similar snip in US
Following significant movements on Monday, the pound, dollar and euro held their ground on Tuesday, with less than 0.2% change between them. The euro was slightly ahead, up 0.13% on the pound and just under 0.1% on the dollar. Clearly, however, there was very little in it. With a softening jobs market in the UK and a decline in pay increases, Bank of England Governor Andrew Bailey indicated in an interview on CNBC that this may pave the way for …
The Monetary Policy Council (MPC) will cut interest rates by 75-100 basis points by the end of 2025 – predict economists from Bank Gospodarstwa Krajowego (BGK).
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