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05.11.26 - 18:36
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Bank of England raises interest rates to 4%, the first increase for more than three years (The Guardian)
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Base rate increases from 3.75%, and Bank governor signals another rise in near future to combat rising inflationAnalysis: Interest rate rise in midst of cost of living crisis will leave many incredulousBusiness live – latest updatesThe Bank of England has raised interest rates for the first time in three years and warned of another increase to come to combat rising inflation unleashed by the Iran war.Eight members of the Bank's monetary policy committee (MPC) voted for the move, which takes the base rate from 3.75% to 4%. The ninth member, Catherine Mann, preferred a more dramatic half-point increase. Continue reading......
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05.11.26 - 16:09
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"Neither Does It Seem To Be The Last": Bank Of England Hikes For First Time Since 2023, Sees Inflation Near 5% (ZeroHedge)
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"Neither Does It Seem To Be The Last": Bank Of England Hikes For First Time Since 2023, Sees Inflation Near 5%
For the first time in 1,190 days, the Bank of England has raised interest rates.On Thursday the BoE's Monetary Policy Committee voted 8-1 to lift Bank Rate by 25bps to 4.00%, the first hike since August 3, 2023, when the BoE topped out at 5.25%. And the lone dissenter was no dove: external member Catherine Mann wanted a half-point move to 4.25%. Put differently, not a single one of the nine MPC members voted to keep rates on hold, which is a little more hawkish than consensus: Goldman and JPMorgan both expected a 7-2 vote (Goldman's STIR desk had Swati Dhingra and Alan Taylor as the holdouts), while Deutsche Bank's UK economists were looking for a 6-3 split.Even the doves came along, if grudgingly. Alan Taylor, one of the most dovish members of the committee, called it "a risk management, 'one-for-now' insurance hike," while Governor Andrew Bailey, in his own ...
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05.11.26 - 16:09
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Futures Split As Blue-Wave Chip Purge Enters Day Two; Oil Rebounds, BoE Hikes (ZeroHedge)
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Futures Split As Blue-Wave Chip Purge Enters Day Two; Oil Rebounds, BoE Hikes
US futures are mixed, with the Nasdaq lagging as the post-midterm rotation out of chipmakers and the AI complex enters a second day, after the Democratic sweep raised fears of a data center backlash, Qualcomm tumbled on a weak forecast and the Kospi crashed almost 6%, while oil rebounded modestly from Wednesday's plunge and the BoE hiked rates for the first time in three years; as a result the 10Y yield touched 4.83%, the lowest since Sept. 10. As of 6:20am ET, S&P futures are 0.1% higher while Nasdaq futures are down 0.5%, Russell 2000 futures add 0.4% and Dow futures are 0.7%; this follows Wednesday's session when the S&P jumped 1.6% for its best day since August and the Dow soared 3%. In premarket trading, semis are again getting hit (the SOXX ETF was down 2% premarket per Bloomberg) with Qualcomm sliding 10% after a lackluster forecast, continuing the hyperscalers vs semis split we flagged yesterday, wh...
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05.11.26 - 16:06
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The BOE Decides | Special Coverage (Bloomberg)
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The Bank of England warned inflation is on track to hit almost 5% next year as policymakers voted unanimously to raise interest rates and signaled another hike is on the cards. Traders added to bets for another hike next month.
Bloomberg TV brings you Governor Andrew Bailey's press conference live, as well as, all the market reaction and analysis in a special program hosted by the Opening Trade team and a range of experts. (Source: Bloomberg)...
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05.11.26 - 14:36
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BOE Sees Case for Another Rate Hike If Iran War Doesn′t End (Bloomberg)
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"I'm not going to sign up to the two-and-done point," Bank of England Governor Andrew Bailey says when asked if a second interest-rate increase is on the cards following Thursday's decision to hike. "Absent a resolution of the conflict in the Middle East, and I think I put this in my commentary in the minutes, I could see the case for a further 25 [basis points]," Bailey says at a news conference in London. (Source: Bloomberg)...
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05.11.26 - 13:36
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BOE Rate Hike a ′Big One and Done,” Says BNY′s Yu (Bloomberg)
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“Probably it's an insurance move,” says Geoffrey Yu, senior market strategist at BNY, as the Bank of England voted 8-1 to raise rates by a quarter point. He sees the messaging “not envisaging further moves” by the central bank's Monetary Policy Committee. He speaks on “Bloomberg Surveillance.” (Source: Bloomberg)...
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Notenbank Großbritannien 10650.595 -0.38% (FTSE 100 Kurs)
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