Sterling up ahead of Fed, Bank of England decisions

  • 📰 RTEbusiness
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 61%

Ireland Headlines News

Sterling edged up against the dollar today as markets braced for policy decisions from the US Federal Reserve and Bank of England on benchmark interest rates aimed at curbing soaring inflation.

Investors are focused as much on any clues as to the path of future rate hikes as on immediate moves.

The dollar weakened broadly in early European trading hours - supporting currencies including the pound - on market bets the Fed would signal a slower pace of tightening in future. Currency analysts said the Fed meeting would likely set the tone ahead of the Bank of England's decision tomorrow. "Our worry is the Fed could be less hawkish than priced. If there's any disappointment that could put some downward pressure on cable tomorrow," he added.

Source: Financial Digest (financialdigest.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 16. in İE

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sterling drops as Bank of England hikes interest ratesSterling fell sharply today as the Bank of England raised interest rates by 75 basis points, a day after the Federal Reserve hiked borrowing costs by the same amount.
Source: RTEbusiness - 🏆 16. / 61 Read more »

Central Bank could ‘take action’ to delay Ulster Bank and KBC Bank exitsCentral Bank of Ireland governor Gabriel Makhlouf has said that the regulator could take “action” to delay Ulster Bank’s and KBC Bank’s exit from the Irish market if it feels it is appropriate to do so to ensure switching customers are not left stranded.
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

UK ‘hours’ from potential financial meltdown after mini-budget, confirms Bank of England governorThe Bank of England Governor said the Bank had to step in ‘quickly’ and ‘decisively’ to mitigate a ‘very real threat to financial stability’.
Source: thejournal_ie - 🏆 32. / 50 Read more »

Bank of England raises interest rates to 3%The Bank of England has today raised interest rates to 3% from 2.25%, its biggest rate rise since 1989 as it warned of a 'very challenging' outlook for the economy.
Source: RTEbusiness - 🏆 16. / 61 Read more »

Bank of England raises interest rates to 3% in biggest single hike since 1989The Bank warned that the UK could be on course for two years of uninterrupted recession.
Source: thejournal_ie - 🏆 32. / 50 Read more »