The Bank of England has taken another step towards cutting interest rates, focusing on wage and employment data for next Tuesday

Only two members of the Bank of England's policymaking committee voted to cut interest rates, but this is one more member than last time, and there are signs that more people will join the “interest rate cut team” next month. The Bank of England has long said it relies on data, and next Tuesday's wage and employment data will become even more important.

FX678 Finance22:47 ET

Experts say the surge in the US money supply means the Federal Reserve will not cut interest rates in 2024!

Bert Dohmen, an analyst at Dohmen Capital Research, said that the recent sharp increase in the supply of M2 money in the US means that the Federal Reserve will not be able to deliver on expected interest rate cuts this year. He also believes that all discussions about how many times the Federal Reserve may cut interest rates this year are meaningless.

FX678 Finance20:55 ET

Federal Reserve Daly: Restrictive interest rates need more time to work

The Zhitong Finance App learned that San Francisco Federal Reserve Chairman Daly said that interest rates are currently holding back the economy, but it may take more time for inflation to return to the Federal Reserve's target level. “We have taken restrictive measures, but it may take more time to reduce inflation,” Daly said in a discussion on Thursday. This statement echoes Federal Reserve Chairman Powell's speech on April 16. Daly said that recent data showed that price pressure picked up at the beginning of this year, which highlights the reason why policymakers cannot declare victory in the fight against inflation until they are convinced that inflation is under control. She said, “For the next few months

Zhitong Finance19:48 ET

GBP/USD Posts Modest Gains Above 1.2500, UK GDP Data Eyed

GBP/USD trades with a mild positive bias around 1.2525 amid the weaker USD on Friday.

FXStreet19:15 ET

US Dollar Modestly Retreats After Disappointing Jobless Claims Data

The US Dollar Index (DXY) is trading at 105.35, slightly down. Despite signals of persistently high inflation acknowledged by Federal Reserve (Fed) Chair Jerome Powell and a recent hawkish stance from the Fed, the Dollar seems to be under mild downward pressure on Thursday due to the report of weak Initial Jobless Claims figures

FXStreet13:05 ET

BoE Pill: BoE to Think About Rate Cuts Over Next Few Meetings

In the absence of big disturbances to the economy, we will be thinking about cutting rates over the next few meetings.

FXStreet13:00 ET