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.

EUR/GBP - UK wage growth cools which could enable earlier BoE rate cuts

UK wages (inc bonus) rise 6.5% in the three months to November (7.2% in three months to October) Markets expect 125 basis points of rate cuts from the BoE this year Double bottom forms in EURGBP Labor market figures this morning have kicked off a big week of economic data for the UK in a promising way, with wage growth a highlight from the report. For a long time now, central banks have indicated that a significant amount of pressure from higher interest rates will need to be applied

16-01-2024 08:36 GMT by Craig Erlam

UK inflation data sees markets price in more rate cuts from the BoE

The Bank of England may be much closer to cutting interest rates than it admitted last week when three policymakers thought it still appropriate to hike again. Inflation data from the UK this morning showed price growth has cooled faster again and much more so than the BoE anticipated in November when it released its last forecasts. The headline CPI slipped back to 3.9% while the core fell to 5.1%; both still far above target but on a rapid descent toward it.

20-12-2023 14:58 GMT by Craig Erlam