On Tuesday, the inflation rate for the euro area is forecast to decrease from 2.9% to 2.4%. Should this go to plan, it will suggest the European Central Bank's monetary policy has been somewhat effective.
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On Wednesday, UK inflation is forecast to fall from 4.6% to 4.3%. Bank of England policymakers are hopeful that their approach to monetary policy is efficient enough to start chipping away at British inflation, which is currently at…
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Jerome Powell’s apparent volte face on Wednesday led to the US dollar losing heavily in the past couple of days. USD hit a four-month low against EUR and a three-month low against GBP.
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The euro moved in lockstep with sterling against the US dollar yesterday, gaining over 1% as Christine Lagarde made it clear that the ECB did not see the battle against inflation as won.
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Sterling joined the euro in shooting upwards against the US dollar, gaining well over 1% on USD.
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Sterling powered upwards against the US dollar yesterday following the Bank of England decision on interest rates. Not so much because of the decision to hold rates at 5.25%, but because of the relatively hawkish comments from the…
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Last night, the US Federal Reserve decided to keep interest rates unchanged at 5.25-5.55% at its December meeting but it indicated 75bps cuts in 2024.
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After keeping the rates unchanged in its December meeting, the Fed’s revealed that officials’ median view of the policy rate at the end of 2024 stood at 4.6%, which would require a reduction of 75 basis points between…
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