Bank of England (BoE) news

The Bank of England (BoE) is the central bank of the United Kingdom. Its primary objective is to maintain price stability, targeting a 2% inflation rate. The BoE uses interest rate adjustments and quantitative easing to influence the economy and achieve its inflation target. It also plays a key role in ensuring financial stability in the UK.

GBP/USD Dips to 1.2850 Amid Growing BoE Rate Cut Speculation

GBP/USD is declining due to speculation of a BoE rate cut and concerns about global growth. Market participants are pricing in a 53% chance of rate cuts in August, but economists polled predict an 80% chance of a cut. Technically, GBP/USD has support at 1.2850 and resistance at 1.2950. Most Read: USD/JPY Declines Sharply as BoJ Considers Rate Hike Next Week Cable has continued to edge toward support at the 1.2850 handle as high impact US data lies in wait.

25-07-2024 07:25 GMT by Zain Vawda

UK Election 2024: Impact Analysis on GBP and FTSE 100

The UK election has had a surprisingly muted impact on the market, likely due to the focus on monetary policy. Polling suggests a comfortable Labour victory, but any surprises could trigger volatility in the GBP and FTSE 100.

03-07-2024 07:45 GMT by Zain Vawda