Five Things You Need to Know to Start Your Day
Get up to speed with what the markets are monitoring
Good morning. Rate decisions by the BOE and ECB, markets aren’t convinced by Powell and it’s tough commuting in the UK. Here’s what people are talking about.
The Bank of England is likely to slow the pace of interest-rate rises on Thursday as it balances risks from high inflation with concerns that overly aggressive action might unnecessarily deepen the recession ahead. Investors and economists expect the UK central bank to deliver a half-point increase in the key rate, putting the benchmark at 3.5%, the highest since 2008. The European Central Bank will decide on its policy as well, with a half-point move expected. Investors will also be closely watching ECB’s blueprint for shrinking almost €5 trillion ($5.3 trillion) stash of bonds.