CADGBP CAD/GBP
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CAD/GBP News
UBS Now Sees Bank of England Starting to Cut Rates in August Vs. Earlier View of June
UBS said it shifted its call for the first Bank of England (BoE) rate cut from June to August, implying no change from the Monetary Policy Committee (MPC) at the next meeting on June 20.
Pound Sterling Edges Higher After April GDP Stalls in Line With Expectations
Pound sterling edged higher against a softer US dollar and rose against some other major currencies in early European trade on Wednesday after government data showed the UK economy stalling in line with expectations in April.
U.K. Is Growing, Though Trend Is Unclear -- Market Talk
The U.K. is likely to grow over the second quarter despite stagnation in April, ING economist James Smith writes in a note.
UK Economy Stalled in April After Wet Weather Held Back Retail
A rebound from last year’s recession appears to be losing momentum after the highest interest rates in 16 years continued to weigh down the finances of both businesses and consumers.
In May, 50,000 people were laid off in the United Kingdom, but the salary increased to 5.9%, making the outlook for the Bank of England's interest rates more complex.
In May, the United Kingdom laid off 50,000 people, and the unemployment rate rose to 4.4%. The average income, including bonuses, increased from 5.7% to 5.9%. The Bank of England will formulate policies next week, and may lay the foundation for economic recovery by reducing interest rates in the second half of the year as overall inflation decreases.
As of April, the United Kingdom's unemployment rate for the first three months is 4.4%, the highest in two and a half years.
As of April, the UK's unemployment rate for the three months unexpectedly rose to the highest level in more than two and a half years, while the pressure for pay rises in the private sector eased, further proving that inflationary forces are weakening. The UK's National Statistics Office said on Tuesday that the unemployment rate rose to 4.4% in the three months to April, the highest level since mid-2021. The average weekly wage growth in the private sector was 5.8%, the lowest level in two years, despite a nearly 10% increase in the minimum wage. These data give hope to policymakers at the Bank of England that they may begin to cut interest rates at the end of this summer, led by Governor Andrew Bailey and other officials.
UK Unemployment Rises in Sign Inflationary Pressures Cool
Job vacancies dropped by 12,000 in the quarter to 904,000, the 23rd consecutive fall. That’s still above levels before the Covid-19 pandemic hit.
UK Unemployment Rate Rises to 4.4% in Quarter to April Vs. 4.3% Expected
The UK Unemployment Rate rose to 4.4% in three months to April.
Pound Sterling Falls as Traders Rollback Fed Rate-cut Bets
The Pound Sterling (GBP) seems vulnerable against the US Dollar (USD), slightly below the round-level support of 1.2700 in Monday’s New York session.
Bank of Canada cuts rates ahead of time, analyst says interest rate spread may lead to depreciation of the Canadian dollar.
This week, the Bank of Canada cut its policy rate by 0.25 percentage points, but people began to question how much the gap between the key interest rates of the two countries would widen as it is expected that the Federal Reserve will hold the overnight interest rate steady until autumn.
The UK's right-wing Reform Party will comprehensively reform the Bank of England's quantitative easing plan.
The rebellious right-wing party 'Reform UK' wishes to completely reform the Bank of England's banknote printing plan in order to save billions of British pounds for campaign promises.
After the Bank of Canada fired the first shot in G7's interest rate cut, the market expects at least two more rate cuts this year.
Economists predict that the Bank of Canada will cut interest rates at least twice more in 2024 and that the interest rate will fall to 4.25% or 4%.
Canadian Dollar Flattens on Thursday as Markets Await US NFP
The Canadian Dollar (CAD) settled into a holding pattern on Thursday as markets batten down the hatches ahead of Friday’s key labor data from both the US and Canada. Investors are still leaning into bets of a September rate cut from the US Federal Reserve (Fed), but chances of a push-out to November are still on the cards.
Statistics Canada Reports Country Posted $1B Merchandise Trade Deficit for April
Canada posted a merchandise trade deficit of $1.0 billion in April, as exports of natural gas and crude oil climbed higher, Statistics Canada said Thursday.
Bank of Canada's Pivot Opens Path for Others to Diverge From Fed
Bank of Canada Governor Tiff Macklem led the Group of Seven in lowering interest rates, and his confidence may help reassure other central banks that they can launch into cuts before the Federal Reserve.
The Bank of Canada cuts interest rates to 4.75%, implying further cuts in the future.
The Bank of Canada has lowered its interest rate by 0.25 percentage points, becoming the first central bank in the G7 to start a loose monetary policy cycle.
Canadian Dollar Churns on Wednesday After BoC Rate Cut
Canadian Dollar loses minor ground against Greenback after BoC rate cut.
Bank of Canada's Macklem Signals 'Gradual' Rate-Cut Path -- Market Talk
Bank of Canada Gov. Tiff Macklem says he expects interest rates to come down on a gradual basis, in line with its own inflation forecast.
As inflation enters the target range, the Bank of Canada cuts interest rates, and the Canadian dollar weakens.
After the Bank of Canada cut interest rates, it is understandable that the Canadian dollar fell among most G7 currencies, with the most notable being the rise of the US dollar against the Canadian dollar after the data release. Following a surprising increase in the US services purchasing managers' index (PMI), the US dollar was boosted and further rose.
Macklem Speech: It Is Looking Like a Soft Landing for the Economy
Tiff Macklem, Governor of the Bank of Canada (BoC), explains the BoC decision to lower the interest rate by 25 basis points to 4.75% after the June policy meeting and responds to questions from the press.