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 Finance08:30 ET

UK Election Kills Chance of June Rate Cut, Ex-BOE Official Says

Former Bank of England policy maker Michael Saunders said the prospects of an interest rate cut in June are dead for now but that markets are probably under-pricing the chances of a reductions later in the year.

BNN Bloomberg07:04 ET

Private Sector Grows Steadily in May Amid Signs of Cooling Services Inflation

The UK’s private sector grew at a steady rate this month, though slower than in April, amid early signs of slowing services sector inflation.

Yahoo Finance05:47 ET

U.K. Survey Data Offers Relief to Bank of England -- Market Talk

U.K. purchasing managers' survey data should provide the Bank of England with some comfort after the stronger-than-expected inflation data for April, Capital Economics economist Andrew Wishart says in a note.

WSJ05:44 ET

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