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 Finance7minutes 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

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

UK inflation is higher than expected, cooling the outlook for interest rate cuts in June

The UK CPI for April was 2.3%, which is expected to be 2.1%. Heated inflation in the UK cooled the Bank of England's interest rate cut in June. Dutch International Group said that although the inflation data “will not change the Bank of England's rules of the game,” the possibility of cutting interest rates in June has decreased.

FX678 Finance22:51 ET

Hopes of interest rate cuts in June dashed? The decline in the UK's CPI in April fell short of expectations, and inflation in the service sector remains stubborn

Traders cut bets on interest rate cuts in June

Gelonghui FinanceMay 22 06:29 ET

Interest rate cut bets fell due to rising inflation in the UK in April, GBP/USD strengthened, and EUR/GBP fell

After the CPI heated up, the British CPI unexpectedly lifted the interest rate cut bet. The pound strengthened, and the pound rose against the US dollar. EUR/GBP continued its decline after breaking through the support level, and it is worth watching until the ECB's June meeting.

FX678 FinanceMay 22 05:44 ET