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☆ UK economy ekes out 0.1% growth in the third quarter, below expectations
▼ + stars: | 2024-11-15 | by ( April Roach | ) www.cnbc.com time to read: +3 min

Bank of England in the City of London on 6th November 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. The City of London is widely referred to simply as the City is also colloquially known as the Square Mile. Gross domestic product came in at 0.1% in the three months to September compared to the previous quarter. That's below the 0.2% growth expected by economists polled by Reuters and follows an expansion of 0.5% in the second quarter of the year.

Persons: Mike Kemp, Rachel Reeves, Thiru, Donald Trump, Trump's, Andrew Bailey, I'm Organizations: of England, Getty, Gross, Reuters, National Statistics, Bank of England's, Bank of England, Labour, Finance, Institute of Chartered Accountants, U.S Locations: City of London, London, United Kingdom, The City, U.K, That's, Britain, England, Wales

☆ Former BOE member on what Trump's reelection could mean for the UK
▼ + stars: | 2024-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer BOE member on what Trump's reelection could mean for the UKJohn Gieve, former deputy governor at the Bank of England, speaks to CNBC's Silvia Amaro about monetary policy and Trump tariff implications.

Persons: Former BOE, John Gieve, CNBC's Silvia Amaro Organizations: Former, Bank of England

☆ Bank of England set for second cut after Labour reveals tax-hiking budget
▼ + stars: | 2024-11-07 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

A pedestrian crosses the streets in front of The Bank of England illuminated by a ray of sunlight, in central London, on February 12, 2024. LONDON — The Bank of England is widely expected to cut interest rates Thursday, when policymakers deliver their first monetary policy decision following Labour's bumper budget announcement last week. The BOE is forecast to lower rates by 25 basis points for the second time this year, bringing its key rate to 4.75%. Policymakers had signaled a "gradual approach" to cuts after holding rates steady at their September meeting. The Federal Reserve on Thursday will also deliver its latest interest rate decision following the conclusion of the U.S. presidential election, having previously cut by 50 basis points in September.

Persons: BOE, Goldman Sachs, Rachel Reeves Organizations: The Bank of England, LONDON, Bank of England, Finance, Federal Reserve, U.S Locations: London

☆ Firm dollar keeps peers on back foot ahead of BOE, Fed decisions
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: +3 min

Trump's policies on restricting illegal immigration, enacting new tariffs, lowering taxes and deregulation may boost growth and inflation and crimp the Fed's ability to cut rates. Following the election, markets now see about a 70% chance the Fed will also cut rates next month, down from 77% on Tuesday, according to the CME Group's Fed Watch Tool. Anything less than a "dovish cut" from the Fed on Thursday could see traders trim back bets for a December cut and the dollar and yields rising higher, Simpson added. The yen was up 0.22% at 154.30 per dollar, after touching 154.7 on Wednesday, its lowest against the greenback since July 30. The Riksbank is seen easing by 50 basis points, and the Norges Bank is set to stay on hold.

Persons: Donald Trump's, Matt Simpson, Trump, Treasuries, Simpson Organizations: U.S, Federal Reserve, Trump, White, Index, Treasury, Fed, Republicans, CME, Bank of England, Norges Bank, Bitcoin Locations: U.S, Index ., cryptocurrencies

☆ Europe's markets head for mixed open as Trump win settles in; Fed, BoE decisions in focus
▼ + stars: | 2024-11-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading for a mixed open as global investors digest Donald Trump's presidential election win and political upheaval in Germany. They also await monetary policy decisions from the U.S. Federal Reserve and Bank of England. Global markets continue to react to Donald Trump's decisive election win, with U.S. stocks rallying Wednesday as Wall Street rejoiced the speedy conclusion of the presidential election. Central banks will be closely watched Thursday, with the Fed and BoE both expected to announce rate cuts. Scholz announced he would bring a vote of confidence to the German parliament on Jan. 15.

Persons: Donald Trump's, Germany's DAX, BoE, Chancellor Olaf Scholz, Christian Lindner, Lindner's, Scholz Organizations: U.S . Federal Reserve, Bank of England, France's CAC, IG, Global, Fed Locations: Germany, Asia, Pacific, U.S

☆ Brits brace for higher mortgage payments despite Bank of England seen cutting rates
▼ + stars: | 2024-11-06 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Oversnap | E+ | Getty ImagesLONDON — Britons are facing the prospect of higher mortgage rates for longer after the government's tax-and-spend budget threw off expectations for a series of near-term interest rate cuts. Mortgage rates also took a hit from the uncertainty, with a number of smaller and mainstream lenders raising mortgage rates on the expectation that interest rates may stay higher for longer. watch nowVirgin Money became the first major lender to raise mortgage rates after the budget, lifting them by 0.15%. "This isn't the radical spike in rates that have blighted mortgage rates in the last couple of years. He added that interest rates could now remain 50-basis-points higher than previously expected at the end of the cutting cycle.

Persons: Rachel Reeves, Reeves, —, David Hollingworth, Hollingworth, Allan Monks, BOE Organizations: Bank of England, Wednesday, Virgin Money, Santander, Morgan's Locations: London's, Oversnap

☆ Dollar dips as U.S. election outcome remains uncertain, Fed rate cut looms
▼ + stars: | 2024-11-04 | by ( ) www.cnbc.com time to read: +3 min

The euro rose 0.4% to $1.0876 but faces resistance around $1.0905, while the dollar dipped 0.3% on the yen to 152.45 yen . Analysts believe Trump's policies on immigration, tax cuts and tariffs would put upward pressure on inflation, bond yields and the dollar, while Harris was seen as the continuity candidate. "A Harris win and a split Congress would likely result in 'Trump trades' quickly reversed and priced out," he added. Uncertainty over the outcome is one reason markets assume the Federal Reserve will choose to cut rates by a standard 25 basis points on Thursday, rather than repeat its outsized half-point easing. Futures imply a 99% chance of a quarter-point cut to 4.50%-4.75%, and an 83% probability of a similar-sized move in December.

Persons: Kamala Harris, Republican Donald Trump, Harris, Chris Weston, Trump, Goldman Sachs, Jan Hatzius Organizations: Democratic, Republican, Dealers, Trump, Reserve, of England, Norges Bank, Reserve Bank of Australia, Labor, China's National People's Congress, Reuters Locations: Asia, United States, Iowa, Treasuries, gilts, Beijing

☆ Surge in UK borrowing costs is not a repeat of the 'mini-budget' crisis, economists say
▼ + stars: | 2024-11-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Loading chart...LONDON — U.K. borrowing costs posted two days of gains right after the Labour government unveiled a huge package of borrowing and tax rises in its Wednesday budget — but analysts downplayed the possibility of a second "mini-budget" crisis in the British bond market. The 10-year gilt yield , representing medium-term borrowing costs for the government, was slightly lower on the day at 11:20 a.m. London time. Yields move inversely to prices, so higher yields represent a sell-off in bonds — and an aversion to funding U.K. debt. The incident sent bond yields soaring so rapidly, they threatened to destabilize pension funds. Loading chart..."The market is right to be concerned" about the U.K. fiscal outlook, Mohit Kumar, chief financial economist for Europe at Jefferies, told CNBC.

Persons: Rachel Reeves, Reeves, Liz Truss, BOE, Susannah Streeter, Hargreaves Lansdown, It's, Streeter, CNBC's, Sterling, Mohit Kumar, We've Organizations: LONDON, Labour, Wednesday, Bank of England, Deutsche Bank, Hargreaves, U.S ., Jefferies, CNBC Locations: London

☆ UK borrowing costs soar day after Labour government unveiled tax-raising budget
▼ + stars: | 2024-10-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

watch nowLONDON — U.K. bond yields spiked sharply Thursday after the ruling Labour Party unveiled a sweeping package of tax hikes and increased borrowing. Yields had already risen on Wednesday shortly after the budget announcement by Finance Minister Rachel Reeves, which contained plans for £40 billion ($52 billion) worth of tax hikes and committed to substantially higher borrowing in the coming years. Despite the big moves this week, the gilt market is remaining relatively stable compared to September 2022, when the U.K. suffered its so-called "mini-budget crisis." Analysts had said ahead of the October 2024 budget that such bond market volatility was unlikely to repeat itself, largely because the U.K. inflation has dropped sharply since the Truss era. Analysts at Goldman Sachs said Thursday it would "reduce the urgency for sequential cuts in the near term."

Persons: Rachel Reeves, We've, Liz Truss, Truss, Reeves, Goldman Sachs, Morgan, Andrew Sheets, BOE, Sterling Organizations: Labour Party, Labour, ING, Budget, Conservative Party, Bank of England, Goldman, CNBC, U.S Locations: London

☆ Economists see UK cutting interest rates more substantially as inflation pressures ease
▼ + stars: | 2024-10-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +5 min

Mike Kemp | In Pictures | Getty ImagesLONDON — The U.K. is likely to see interest rates drop at a faster pace than previously expected, according to economists who flagged key data releases that indicated inflationary pressures are finally easing. However, economists at Goldman Sachs in a Monday note forecast rate cuts "notably below market pricing." As a result, they see consecutive 25 basis point cuts taking the Bank Rate to 3% as early as September 2025, and to 2.75% in November next year. "Recent data have cemented expectations of another cut in interest rates in November. "That said, uncertainty around the economic outlook is high, and interest rate expectations will be sensitive to what the government announces in the Budget," Muir added.

Persons: Mike Kemp, Goldman Sachs, BOE, Price, —, James Smith, Smith, David Muir, Muir, Keir Starmer, Rachel Reeves Organizations: of England, Labour, Bank of England's, BOE policymakers, Bank of England, ING . Services, Reuters, International Energy Agency, U.S . Federal Reserve, European Central Bank, Moody's, Finance Locations: City of London, London, United Kingdom

☆ SuperLimbs: Wearable robotic limbs could help astronauts recover from falls
▼ + stars: | 2024-10-14 | by ( Amy Gunia | ) edition.cnn.com time to read: +11 min

That includes researchers at the Massachusetts Institute of Technology (MIT), who are developing a set of wearable robotic limbs to help astronauts recover from falls. When the wearer falls over, an extra pair of limbs can extend out to provide leverage to help them stand, conserving energy for other tasks. The study found that falls were more common when, like Duke, astronauts were collecting samples or using tools – tasks that Artemis astronauts are likely to undertake. Kim Shiflett/NASA NASA astronaut Eric Boe wears Boeing's new spacesuit designed for astronauts who will fly on the CST-100 Starliner. Ballesteros plans to spend the next few years of his PhD using a “Swiss Army Knife technique” to turn SuperLimbs into a system for astronauts that can “address different important use cases, but all be one unified design.”SuperLimbs could help astronauts recover from falls, move efficiently, and do work.

Persons: haven’t, Artemis, Charlie Duke, Duke, Walter M, Schirra Jr, Donald K, Slayton, John H, Glenn Jr, Scott Carpenter, Alan B, Shepard Jr, Virgil I, Grissom, Gordon Cooper Jr, John W, Michael Collins, Edwin E, Aldrin Jr, Buzz Aldrin, Neil A, Armstrong, Aldrin, Joe Engle, Richard Truly, John Young, Bruce McCandless, McCandless, Robert L, Stewart, Michael J, McCulley, Franklin R, Chang, Diaz, Ellen S, Baker, Shannon W, Donald E, Williams, Michael Fincke, Yury Lonchakov, Kennedy, Center's Neil A, Jessica Watkins, Bob Hines, Kjell Lindgren, Samantha Cristoforetti, Kim Shiflett, Eric Boe, Boeing Dustin Gohmert, NASA's, Joel Kowsky, NASA Kristine Davis, SuperLimbs, Harry Asada, Erik Ballesteros, Ballesteros, it’ll, ”, Jonathan Clark, ” Ballesteros, Ana Diaz Artiles, Kalind Carpenter, Preston Rogers, Mirza Samnani Organizations: CNN, Massachusetts Institute of Technology, MIT, University of Michigan, National Aeronautics and Space Administration, NASA, Mercury, Command, NASA Space Shuttle, Challenger, NASA's, NASA NASA, Russian Sokol, International Space, SpaceX, Armstrong Operations, Boeing, Orion, Space, Space Center, Extravehicular Mobility, UPI, Jet Propulsion, SuperLimbs, Neurology, Space Medicine, Baylor College of Medicine, Texas, Swiss Locations: Tranquility, Russian, Washington ,, Washington, Japan, Mars . China

☆ Dollar on a roll after U.S. jobs data and Middle East flare-up
▼ + stars: | 2024-10-07 | by ( ) www.cnbc.com time to read: +3 min

Bank notes of the Chinese yuan, Japanese yen and the U.S. dollar. Japan's yen fell to its lowest in nearly two months and other major currencies too were grappling with losses early on Monday as the dollar extended a rally sparked by Friday's strong U.S. jobs data and an escalation in the Middle East conflict. But that came on top of a more than 4% decline last week, its biggest weekly percentage decline since early 2009. Yields dipped early last week when investors bought safe-haven Treasuries after Iran launched more than 180 missiles against Israel in escalating geopolitical tensions. Market expectations have swung to the extreme for the Federal Reserve to do just a 25 bps cut in November, rather than 50 bps, following the jobs data.

Persons: Friday's, Chris Weston, haven't, Brent, underperformance, Shigeru Ishiba, Sterling, Huw Pill, Andrew Bailey, BoE Organizations: U.S ., Federal, U.S, Treasuries, Federal Reserve, Bank of England Locations: China, East, Israel, Lebanon, Gaza, Iran, Japan

☆ Sterling plunges 1% against dollar after Bank of England governor's comments on rate policy
▼ + stars: | 2024-10-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Andrew Bailey, Governor of the Bank of England, gestures as he addresses the media during a press conference at the Bank of England in London on Aug. 1, 2024. The British pound tumbled more than 1% against the U.S. dollar on Thursday after a The Guardian report that Bank of England Governor Andrew Bailey suggested more positive inflation data could lead the central bank toward a more aggressive approach to interest rate cuts. He also said he was encouraged that cost of living pressures had not been as persistent as previously thought, according to the Guardian. The central bank held its key rate in September, after cutting it by 25 basis points in August to 5%. During the September meeting, the institution expressed concerns about services inflation and the labor market, despite headline inflation hovering near its 2% target.

Persons: Andrew Bailey, Sterling, Bailey, BOE Organizations: Bank of England, U.S, Guardian, U.S . Federal, CNBC Locations: London, British

☆ UK house sales rise since the Covid-19 boom as lower mortgage rates spur activity
▼ + stars: | 2024-10-03 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

A pedestrians looks at residential properties displayed for sale in the window of an estate agents' in Windsor, west of London. LONDON — Lower mortgage rates are sparking an uptick in the U.K. housing market, following a surge in the pace of home sales last month, data showed. Shares of U.K. homebuilders Taylor Wimpey and Barratt Developments both rose more than 2.1% following the data release. Some rates for such products have dipped to 3.7%, well below the BoE's 5% key rate. Mortgage approvals rose in August to the highest level in two years in years, the Bank of England said Monday.

Persons: homebuilders Taylor Wimpey, Richard Donnell, Andrew Bailey Organizations: Barratt, Nationwide, Bank of England's, Bank of England, Bank Locations: Windsor, London, LONDON

☆ Aussie dollar near 2024 high before RBA; yen drifts as Ueda awaited
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: +3 min

The Australian dollar hovered close to its highest level of the year on Tuesday, with the central bank set to hold policy steady later and traders focused on any hints of potential near-term easing. The Australian dollar hovered close to its highest level of the year on Tuesday, with the central bank set to hold policy steady later and traders focused on any hints of potential near-term easing. The yen edged up to 143.45 per dollar, but remained close to the center of its September range of 147.20 to 139.58, a more than one-year peak reached on Sept. 16. The yen has retreated amid waning bets for aggressive tightening by the BOJ, particularly after governor Ueda struck a cautious tone of Friday, saying the central bank would spend some time monitoring global growth risks. The BoE kept rates unchanged last Thursday, with its governor saying the central bank had to be "careful not to cut too fast or by too much".

Persons: Kazuo Ueda, —, Pan Gongsheng, Ueda, Sterling, BoE Organizations: U.S, Bank of Japan, Bank of England, Federal Reserve, European Central Bank, Reuters, Commonwealth Bank of Australia, People's Bank of China, P Global Locations: China

☆ A stunning sterling rally is about to collide with Britain's political realities
▼ + stars: | 2024-09-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Sterling breached $1.33 against the greenback for the first time since March 2022 on Thursday, and was trading at $1.3315 early London time Monday. The pound's rally was tied to the BOE communication and "looks fully justified," Chris Turner, global head of markets at ING, said in a Friday note. Higher rates are traditionally a positive for a domestic currency as the higher yield can attract more foreign capital. watch nowGabriella Dickens, G7 economist at AXA Investment Managers, also cautioned on the pound's outlook in a note Thursday. If the government is more stringent on fiscal policy, we think the Bank will be forced to increase the pace of the cutting cycle to offset the hit on both households' and businesses' finances."

Persons: Keir Starmer, BOE, Chris Turner, Turner, Jane Foley, Gabriella Dickens, Dickens Organizations: Bank of England, Labour, Sterling, greenback, London, ING, Fed, U.K, European Union, Rabobank London, CNBC, AXA Investment, Bank, quicken Locations: Britain, –

☆ Deutsche Bank Research discusses outlook for BOE rates
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeutsche Bank Research discusses outlook for BOE ratesSanjay Raja, chief U.K. economist at Deutsche Bank, discusses the outlook for the Bank of England's interest rates.

Persons: BOE, Sanjay Raja Organizations: Deutsche Bank Research, Deutsche Bank, Bank of

☆ BOE doesn't share the Fed's urgency: MUFG
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBOE doesn't share the Fed's urgency: MUFGHenry Cook, senior Europe economist at MUFG, says the Bank of England is in no rush to front-load its policy easing path, highlighting key areas of concern compared to the Fed & the US economy.

Persons: BOE, Henry Cook Organizations: Bank of England, Fed Locations: Europe

☆ Treasury yields move lower as investors digest unemployment data after Fed cut
▼ + stars: | 2024-09-20 | by ( April Roach | ) www.cnbc.com time to read: +1 min

The 10-year Treasury yield was around 2 basis points lower at 3.7168%. The 2-year Treasury note yield was down around 2 basis points at 3.5784%. U.S. Treasury bond yields were lower on Friday following the release of lower-than-expected jobless claims in the wake of the Federal Reserve's jumbo rate cut. The Federal Reserve's decision on Wednesday to slash interest rates by 50 basis points comes amid a week full of central bank rate decisions. The Bank of England announced on Thursday it would hold interest rates steady after cutting rates for the first time in more than four years in August.

Persons: BOE Organizations: U.S, Treasury, Federal, Reuters, Bank of England, Bank of Japan, People's Bank of China Locations: Asia, China

☆ CNBC Daily Open: One day makes all the difference
▼ + stars: | 2024-09-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. "Recalibration" Fed Chair Jerome Powell's use of the word "recalibration" seemed to reassure investors that the central bank's 50 basis point cut wasn't that worrying. It signaled the Fed wasn't responding to a slowing economy, but shifting focus to ensuring employment doesn't dip further, wrote CNBC's Jeff Cox. At the end of Washington's song, she croons, "What a difference a day makes / And the difference is you."

Persons: BOE, Jerome Powell's, Jeff Cox, Dinah Washington, Oppenheimer, Brian Belski, Powell, –, Alex Harring, Fred Imbert, Hakyung Kim, Lisa Kailai Han Organizations: Nasdaq, CNBC, JPMorgan Chase, of England, Monetary, Fed, Dow, Nvidia, Apple, BMO Locations: New York, Dinah Washington . Washington

☆ Bank of England holds interest rates steady after August cut
▼ + stars: | 2024-09-19 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Commuters cycles past the Bank of England (BOE), left, in the City of London, UK, on Monday, Sept. 16, 2024. The central bank's Monetary Policy Committee's interest rate decision is scheduled for release on Sept. 19. LONDON — The Bank of England on Thursday said it would hold interest rates steady following its initial cut in August, even after the U.S. Federal Reserve opted for a jumbo rate cut the day before. The Monetary Policy Committee voted by 8 to 1 to hold, with the dissenting member voting for a 0.25 percentage point cut. Many strategists had expected a smaller 25 basis point cut at the September meeting, despite market pricing through this week pointing to more than 50% probability of the more aggressive option.

Persons: BOE Organizations: Bank of England, City of, LONDON, U.S . Federal, Monetary, U.S . Federal Reserve Locations: City, City of London, U.K

☆ An aggressive Fed move is unlikely to spur a surprise Bank of England rate cut
▼ + stars: | 2024-09-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Commuters outside the Bank of England (BOE) in the City of London, UK, on Monday, Sept. 16, 2024. The central bank's Monetary Policy Committee's interest rate decision is scheduled for release on Sept. 19. Either way, this would be Fed's first rate cut in the current cycle. Meanwhile, money market pricing for a BOE cut at Thursday's September meeting dipped from 35% late Tuesday to 26% Wednesday morning, still slightly higher than it was last week. The move came after U.K. inflation came in at 2.2% for August, steady on July and in-line with expectations — thus backing the need for a little more caution in Threadneedle Street.

Persons: BOE, —, Sanjay Raja, Raja, George Lazarias, Mazars, they're, Lazarias Organizations: Bank of England, City of, Bloomberg, Getty, Federal Reserve, CNBC, Deutsche Bank, Monetary, MPC Locations: City, City of London, China

☆ UK inflation holds steady in August, matching expectations
▼ + stars: | 2024-09-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Anadolu | Getty ImagesLONDON — U.K. inflation held steady during the month of August, data from the Office for National Statistics showed Wednesday, and matched analyst expectations. Headline CPI had come in at 2% in May and June, in line with the Bank of England's target rate. Services inflation — which is closely watched by the BOE, given its dominance within the U.K. economy and its reflection of domestically-generated price rises — rose to 5.6% in August from 5.2% in July. Core inflation, excluding energy, food, alcohol and tobacco, came in at 3.6%, up from the 3.3% recorded in July. "Despite recent data showing a stagnation in UK economic output and easing wage growth, core inflation remains sticky, with services inflation rising from 5.2% to 5.6% which will weigh heavily on the BOE's decision-making," Carter said in a note.

Persons: BOE, Richard Carter, Cheviot, Carter Organizations: Anadolu, Getty, Office, National Statistics, Headline CPI, Bank of, U.S . Federal Reserve

☆ It's a big week for central banks around the world, with a slew of rate moves on the table
▼ + stars: | 2024-09-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Kevin Dietsch | Getty ImagesA flurry of major central banks will hold monetary policy meetings this week, with investors bracing for interest rate moves in either direction. The U.S. central bank is widely expected to join others around the world in starting its own rate-cutting cycle. Elsewhere, Brazil's central bank is scheduled to hold its next policy meeting across Tuesday and Wednesday. Traffic outside the Central Bank of Brazil headquarters in Brasilia, Brazil, on Monday, June 17, 2024. The central bank delivered its first interest rate cut in more than four years at the start of August.

Persons: Jerome Powell, William McChesney Martin, Kevin Dietsch, John Bilton, CNBC's, Bilton, David Volpe, Volpe, 25bps, Wilson Ferrarezi, BOE, Ruben Segura Cayuela Organizations: Federal Reserves, Washington , D.C, Federal, Traders, The Bank of England, Norway's Norges Bank, South Africa's, Bank, Bank of Japan, Morgan Asset Management, European, Bank of England, ECB, Emerald Asset Management, Banco Central, TS Lombard, Central Bank of, Bloomberg, Getty, Reuters, Bank of America Locations: Washington ,, U.S, Brazil's, Brazil, Central Bank of Brazil, Brasilia, South Africa, Norway, Japan

☆ Dollar weak as traders add to wagers of big rate cut from Fed
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: +3 min

While the Fed is all but certain to cut rates next week, uncertainty around whether it will go with a 25 basis point cut or 50 basis points has kept investors on the edge and weighed on the dollar. Analysts pointed to media reports from the Financial Times and the Wall Street Journal suggesting the Fed's decision would be a close call as one of the reasons for traders adding to wagers of a big rate cut next week. Higher U.S. jobless claims data released on Thursday and the Wall Street Journal article on the Fed's rate cut dilemma revived bets on a jumbo cut at the September meeting, according to Christopher Wong, currency strategist at OCBC. Besides the Fed, the Bank of England and Bank of Japan hold policy meetings next week. "Risks remain that inflation may not return to target as easily as everyone, including the Fed, seems to expect."

Persons: Christopher Wong, Christine Lagarde, Ryan Brandham, Naoki Tamura, Sterling, BoE Organizations: Federal Reserve, Financial Times, Wall, Traders, European Central Bank, Fed, Bank of England, Bank of Japan, Validus Risk Locations: North America

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