InterestRates
The International Monetary Fund (IMF) has released its 2024 Concluding Statements on Common Policies for member countries, highlighting both the progress and the persistent challenges facing the euro area economy. Following the disruptions caused by the pandemic, Russia’s gas supply halt, and the ongoing war in Ukraine, the region is gradually recovering. Inflation rates are moving towards target levels, and banks have demonstrated resilience amid rising interest rates. Weekly Recap: European markets stabilise as French election approachesNonetheless, significant challenges persist, such as re...
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The Swiss National Bank announced on Thursday morning that it would be cutting interest rates to 1.25%, a further decrease of 25 basis points. This is mainly due to the central bank anticipating that although inflation did increase slightly in April, coming up to 1.4% in May, it is now expected to come down to about 1.3% for the rest of the year, as inflationary pressures reduce. Furthermore, if interest rates remain constant at 1.25%, the central bank also conditionally expects inflation in 2025 to touch 1.1% and in 2026 to come down once more to 1%. Regarding their interest rate decision tod...
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The Bank of England decided to keep the Bank Rate unchanged at 5.25% for the seventh straight meeting during its June meeting, as widely predicted by market participants. Seven members of the Monetary Policy Committee voted to keep rates unchanged, while Swati Dhingra and Dave Ramsden favoured a 0.25 percentage point reduction, bringing the rate to 5%. In its statement, policymakers noted that the restrictive monetary policy is weighing on real economic activity, leading to a looser labour market and curbing inflationary pressures. Despite the labour market easing, the Bank of England highligh...
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Norway's central bank has held its base rate at 4.5%, keeping borrowing costs at their highest level since 2008. The committee cited concerns about robust wage growth, which could continue to put upward pressure on inflation. "Since the last report, price inflation has been slightly lower than forecast, while unemployment has increased as expected," said the bank in a statement. "On the other hand, the companies in our regional network are reporting better prospects, and wage growth looks set to be higher than we previously envisioned. This may indicate that price growth will be higher in the ...
Euronews (English)
Despite a rate reduction by the European Central Bank, the Bank of England (BoE) is widely expected to keep the policy rate at 5.25% on Thursday, although inflation in the UK eased to the 2% target level in May. The bank is likely to maintain a cautious tone on the rate trajectory and signal that a rate cut may be on the horizon later this year, possibly in August, according to Reuter's consensus. The economic trajectory may encourage an August cutRecent economic data showed that the UK's economy has slightly improved, with first-quarter GDP growth rising to 0.6% from a 0.3% contraction in the...
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This marks the lowest annual change in the consumer price index since July 2021, aligning with analysts' forecasts. On a monthly basis, inflation increased by 0.3% in May 2024, consistent with April 2024 but slightly below economist expectations. The UK's CPI inflation rate was lower than France (2.6%), Germany (2.8%), and the EU average (2.7%), and matched the US (2.0%) in the 12 months to May 2024. The decline in annual inflation rates in May 2024 was driven by reductions in food and non-alcoholic beverages, recreation and culture, and furniture and household goods. However, transport and co...
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Hargreaves Lansdown has revealed that it is in discussions with a group led by private equity firm CVC Capital and Abu Dhabi's wealth fund regarding a potential takeover approach worth £5.4bn (€6.39bn) The board of the financial services company has told investors that it would be willing to recommend such a deal if the consortium presents a solid offer. The company disclosed that this follows three previous approaches from the consortium in recent months. On Tuesday, Hargreaves Lansdown confirmed receipt of the latest non-binding proposal from the consortium, which includes Luxembourg-based p...
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The National Bank of Hungary has reduced its base interest rate by a quarter point, down from last month's 7.25% to 7%. The cut comes after larger half-point reductions in April and May - and is the latest in a series of cuts which began in May last year. Before the bank started lowering borrowing costs, the key interest rate peaked at 18%, reaching the highest level seen in the European Union during this period. Experts believe that the cautious approach to easing was precipitated by a drop in the forint and creeping inflation. The Hungarian currency has fallen 2.5% against the euro over the ...
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Following rate cuts by the European Central Bank and the Bank of Canada earlier this month, more central banks, including the BoE, SNB, and RBA, are poised to decide on their interest rates. Last week, the Federal Reserve projected one rate cut for this year. The SNB delivered a rate cut in March, making it the first central bank among this group to do so. Investors will closely watch whether other central banks will follow suit or at least provide clear indications about their rate paths. EuropeThe spotlight will be on major economies’ flash manufacturing and services producer price indices (...
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European stock markets resumed their rally, with tech stocks taking the lead following cooler-than-expected inflation data from the United States. Major benchmark indices reversed losses caused by election jitters earlier in the week, with the Euro Stoxx 600 up by 1.01%, the DAX rising by 1.49%, and the CAC 40 climbing by 0.97% on Wednesday. The swift rebound may suggest that the decline in the European markets provided an opportunity for dip-buyers amidst central banks' rate-cut trajectories. Central banks on rate cut trajectoriesThe Fed kept its benchmark rate unchanged at between 5.25% and ...
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