| Prior Close | ||
|---|---|---|
| Asset | Level | Days Change |
| S&P 500 | 6,774.76 | +0.79% |
| FTSE 100 | 9,897.42 | +0.61% |
| UK Natural Gas | 3.91 | -2.88% |
| 2 Year Gilt | 3.75 | +0 bps |
| 10 Year Gilt | 4.53 | +3 bps |
| GBP/USD | 1.337 | -0.03% |
| GBP/EUR | 1.14 | +0.07% |
| GBP/JPY | 210.90 | +1.31% |
| Brent Oil | 59.82 | +0.23% |
| Gold ($) | 4,339.50 | -0.18% |
| Bitcoin ($) | 88,158.80 | +0.07% |
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
| Data | Prior | Cons | Time |
|---|---|---|---|
| Current Account Bal | -28.9m | -21.3m | 07:00 |
The Bank of England cut its base rate by 25bps to 3.75% in a 5-4 vote, reflecting ongoing inflation pressures and a neutral stance with dovish leanings. UK CPI rose 0.3% MoM and 2.8% YoY, beating expectations but indicating cooling trends. Gilt yields rose 3bps on the 10-year and held steady on the 2-year, while sterling edged down 0.03% against the dollar.
The UK will release current account balance data at 07:00, with previous figures at -£28.9B and consensus at -£21.3B, potentially influencing sterling. No major BoE speeches scheduled, but markets will watch for further rate cut signals.
UK services PMI remains resilient amid Brexit challenges, supporting growth. Housing market activity slowed, with Nationwide prices up 3.2% YoY. Energy costs from Brexit and geopolitical tensions weigh on consumer spending.
The BoE's split vote highlights a neutral phase, with data supporting slower cuts to combat inflation. (cont...)
Markets price 2-3 rate cuts by year-end, down from earlier expectations. MPC dissent underscores caution on employment and growth.