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☆ BoE might need to cut rates sooner than thought, Tenreyro says
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

LONDON, April 4 (Reuters) - The Bank of England will probably need to start cutting interest rates sooner than previously thought after raising them sharply in recent months despite signs of weaker inflation pressures, monetary policymaker Silvana Tenreyro said on Tuesday. Investors currently put a 75% chance on a further quarter-point rate hike by the BoE in May and more than a 50% probability on another such increase by August. "With Bank Rate moving further into restrictive territory, I think a looser stance is needed to meet the inflation target in the medium term," she said. Tenreyro used her speech mostly to explain the BoE's bond-buying and bond-selling programmes. Reporting by David Milliken Writing by William SchombergOur Standards: The Thomson Reuters Trust Principles.

☆ Stock futures higher, building on Wall Street's strong Wednesday gains
▼ + stars: | 2023-03-30 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStock futures higher, building on Wall Street's strong Wednesday gainsCNBC's Silvana Henao reports on the trading moves before Thursday's opening bell.

☆ Bank of England raises interest rates again, sees inflation falling
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +5 min

Sounding more upbeat about the outlook for the country's slow pace of economic growth, the BoE's nine rate-setters voted 7-2 in favour of a 25 basis-point increase in Bank Rate to 4.25%. "The MPC will continue to monitor closely any effect on the credit conditions faced by households and businesses, and hence the impact on the macroeconomic and inflation outlook," it said. On Wednesday, the U.S. Federal Reserve raised its main interest rates by a quarter of a percentage point, and indicated it was on the verge of pausing further increases. However, it said it expected wages to rise slightly less than it had previously forecast, as inflation expectations fell. The BoE was the first major central bank to start raising rates in December 2021 and until this week had seemed likely to join the Bank of Canada which this month stopped raising borrowing costs.

☆ Markets to open lower as investors digest SVB collapse
▼ + stars: | 2023-03-15 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets to open lower as investors digest SVB collapseCNBC's Silvana Henao reports on the news moving markets before Wednesday's trading session.

Despite recent signs that Britain's economy may be holding up better than some economists had feared, Dhingra stuck to her view that the BoE risked harming the economy unnecessarily by raising rates too high. Along with Silvana Tenreyro, Dhingra voted last month to leave interest rates on hold at 3.5%, while the other seven members of the Monetary Policy Committee voted through an increase to 4%. Dhingra on Wednesday stressed that the risk of too-high interest rates were a larger threat than the risk of embedded inflation pressure. Dhingra said she did not think either wage growth or inflation expectations offered good evidence of persistent domestically generated inflation pressures. "Those who put too much weight on those numbers, I think should have that in mind as well," she said.

"Some further increase in Bank Rate may turn out to be appropriate, but nothing is decided," Bailey added. Bailey said that the economy had developed largely as expected since the BoE raised rates on Feb. 2. "Inflation has been slightly weaker, and activity and wages slightly stronger, though I would emphasise 'slightly' in both cases," he said. Bailey also highlighted how the central bank shifted its language in February, when it said further tightening would be required if there was evidence of more persistent inflation pressures. But two MPC members - Swati Dhingra and Silvana Tenreyro - voted in February to pause the rate hikes.

☆ Markets to open neutral as investors anticipate key inflation and consumer data
▼ + stars: | 2023-02-24 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets to open neutral as investors anticipate key inflation and consumer dataCNBC's Silvana Henao looks at the news affecting markets ahead of Friday's trade.

☆ Morning Bid: War and PCE
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanWith world headlines focussed on first anniversary of Russia's invasion of Ukraine, the inflationary consequences that pounded world markets last year still smoulder. Curiously, the initial energy shock from the Ukraine war is already less of a problem than the change in pricing behaviour that it seeded - especially in services still distorted by the pandemic, in corporate margin building and rising wage settlements. But it's the pickup and stickiness in underlying "core" prices, excluding energy and food, that is irking the central banks and the Federal Reserve most of all. Alongside another tight U.S. weekly jobs report, markets got another glimpse of those price pressures on Thursday. And increasingly buoyed by the still intense geopolitical fallout from a year of the war in Ukraine, the dollar pushed higher yet again.

LONDON, Feb 23 (Reuters) - Bank of England interest rate-setter Catherine Mann said on Thursday that it was too soon to say the risks posed by the surge in inflation last year had eased and that the central bank should continue to raise borrowing costs. The BoE raised interest rates to 4% earlier this month but signalled it was close to ending a run of increases which began in December 2021. She has previously argued in favour of raising borrowing costs sharply in the face of an inflation rate that remains above 10%, even though the BoE has forecast that it will fall sharply this year. Two other members of the Monetary Policy Committee - Swati Dhingra and Silvana Tenreyro - voted to pause the rate hikes at this month's meeting. Mann also said that she believed that in normal times, interest rate changes took their full effect faster than the 18-24 months which economists have previously estimated.

☆ Markets set to open sharply lower
▼ + stars: | 2023-02-22 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets set to open sharply lowerCNBC's Silvana Henao breaks down the market action to consider ahead of Wednesday's trading session.

☆ Markets set for mixed open after a holiday weekend
▼ + stars: | 2023-02-21 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets set for mixed open after a holiday weekendCNBC's Silvana Henao looks at the news affecting Tuesday's markets.

☆ Markets set to end week lower
▼ + stars: | 2023-02-17 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets set to end week lowerCNBC's Silvana Henao breaks down the market action affecting the indices.

☆ Today's markets are headed toward a flat open
▼ + stars: | 2023-02-14 | 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 EmailToday's markets are headed toward a flat openCNBC's Silvana Henao joins 'The Morning Report' to discuss today's market activity headed toward a flat opening after yesterday's gains. 00:49 3 minutes ago

Last week, Bailey signalled the tide was turning on inflation, even if it was too soon to declare victory. We have got the largest upside skew in our forecasts that we have ever had on inflation," Bailey said. Haskel aligned himself with Catherine Mann who also sees big upside risks to the BoE's price forecasts. By contrast, Tenreyro said the full force of the BoE's rate hikes over the last year had yet to be felt, with economic momentum already fading. "It's crucial to see it through, that we do enough to address potential upside risks to inflation," he said.

☆ Bank of England's Bailey speaks to lawmakers after hint of rate hike pause
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

Below are quotes from Bailey and his colleagues in a question-and-answer session with parliament's Treasury Committee. BAILEY ON PERSISTENCE OF INFLATION"We are concerned about persistence (of inflation) and that's why, frankly, we raised interest rates this time... BAILEY ON PAY DEMANDS"What I would urge is that - particularly going forwards because we think inflation is going to fall very rapidly - that is taken into account." CHIEF ECONOMIST HUW PILL ON POLICY TIGHTENING"It's crucial to see it through, that we do enough to address potential upside risks to inflation." Reporting by William Schomberg, Suban Abdulla, and Sarah Young; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

☆ Markets set to open higher after Biden's SOTU address
▼ + stars: | 2023-02-08 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets set to open higher after Biden's SOTU addressCNBC's Silvana Henao delivers the market action to consider ahead of Wednesday's trading session.

☆ Markets set to open slightly lower
▼ + stars: | 2023-02-07 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets set to open slightly lowerCNBC's Silvana Henao breaks down the market action to consider ahead of Tuesday's trading session.

☆ Bank of England's Mann doubles down on backing for rate hikes
▼ + stars: | 2023-02-06 | by ( Gergely Szakacs | ) www.reuters.com time to read: +2 min

After hiking interest rates to 4% last week, the BoE's Monetary Policy Committee (MPC) signalled it was close to pausing a run of increases which began in December 2021. Mann, consistently the most hawkish member of the MPC, said the risk of under-tightening policy far outweighed the alternative. "In my view, a tighten-stop-tighten-loosen policy boogie looks too much like fine-tuning to be good monetary policy. "From a risk-management point of view, monetary policy has to lean against these upside biases since wage and price inflation are still so high," she said. At the other end of the MPC spectrum, Dhingra and Tenreyro say over-tightening risked sending Britain's economy into an unnecessarily severe downturn, with the full force of the BoE's rate hikes yet to feed through.

☆ Markets headed for mixed open
▼ + stars: | 2023-02-03 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets headed for mixed openCNBC's Silvana Henao breaks down the news to consider ahead of Friday's trading session.

☆ Markets set for higher open ahead of Federal Reserve rate announcement
▼ + stars: | 2023-02-01 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets set for higher open ahead of Federal Reserve rate announcementCNBC's Silvana Henao breaks down the market action to consider.

Although Britain saw the same easing of wholesale energy prices, UK industry - by stark contrast - continued to contract this month. More than two thirds of the 42 economists polled by Reuters this month expect another hefty 50 basis point rate rise to 4% next week, while their average 'terminal rate' forecast implies yet another quarter point rise to 4.25% after that. Despite economic funk, the implied peak BoE rate derived from money and swaps markets shows almost another full percentage point of hikes to 4.5% before the Bank calls it quits later this summer. Either way, the eventual outcome leaves the BoE and the pound in something of a half way house. Reuters Graphics Reuters GraphicsUK vs Euro zone economic surprise gapThe opinions expressed here are those of the author, a columnist for Reuters.

☆ Markets set for positive open
▼ + stars: | 2023-01-24 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets set for positive openCNBC's Silvana Henao looks at things to monitor ahead of Tuesday's trading session.

☆ Futures point to further Wall Street gains
▼ + stars: | 2023-01-23 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFutures point to further Wall Street gainsCNBC's Silvana Henao looks at the futures action ahead of a new trading week.

☆ Wall Street points toward modest losses at open
▼ + stars: | 2023-01-19 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWall Street points toward modest losses at openCNBC's Silvana Henao reports on the market action ahead of Thursday's trade.

☆ Wall Street set to open with modest gains
▼ + stars: | 2023-01-18 | by ( Silvana Henao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWall Street set to open with modest gainsCNBC's Silvana Henao breaks down the market action ahead of the start of the trading week.

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