Former Bank of England official says early UK elections make interest rate cuts in June less likely

The Zhitong Finance App learned that Michael Saunders (Michael Saunders), a former interest rate setter at the Bank of England, believes that the possibility of interest rate cuts in June has disappeared, but the market may have underestimated the potential chance of cutting interest rates later this year. As a senior adviser at the Oxford Institute of Economics, Sanders pointed out after analyzing higher-than-expected inflation data released on Wednesday that this has drastically reduced the possibility that central bank officials will take action next month. Coupled with the government's decision to hold elections, this probability was further weakened. Sanders made it clear in an interview on Thursday: “The Bank of England itself does not want to be a market

Zhitong Finance42minutes ago

UK Recovery From Recession Loses Pace With PMIs Below Forecast

The UK economy’s recovery lost some momentum in May as activity and price pressures in the services sector started to fade.

BNN Bloomberg05:07 ET

Australia Private-Sector Sustains Expansion in May: PMI Report

Australia's private-sector expansion was sustained in May, supported mainly by service-sector growth and a flush of new business, reported S&P Global on Thursday, citing its monthly survey.

MT Newswires05:06 ET

Pound Sterling Exhibits Firm-footing Ahead as Traders Pare BoE Rate Cut Bets

The Pound Sterling (GBP) clings to gains above the crucial support of 1.2700 in Thursday's London session.

FXStreet03:23 ET

Australia's Business Activity Accelerates in May, But Growth Eases to Three-Month Low

Business activity in Australia's private sector expanded further in May, albeit at a slower pace, with manufacturing output reaching an eight-month high and the services sector sustaining its growth, according to preliminary readings from S&P Global and Judo Bank's monthly purchasing managers' index data.

MT Newswires01:50 ET

Australian Dollar Rebounds Due to Improved Risk Appetite

The Australian Dollar (AUD) halts its three-day losing streak on Thursday, possibly driven by the improved risk appetite. However, the Aussie Dollar came under pressure following the Consumer Inflation Expectation, released by the Melbourne Institute. Consumer expectations of future inflation over the next 12 months fell to 4.1% in May from 4.6% in April, marking the lowest level since October 2021.

FXStreet23:01 ET