interestrates
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...
Euronews (English)
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...
Euronews (English)
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...
Euronews (English)
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 ...
Euronews (English)
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 (...
Euronews (English)
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 ...
Euronews (English)
Federal Reserve officials on Wednesday kept the US interest rate unchanged at 5.3%, explain that, although inflation has fallen further toward their target level in recent months, it remains persistantly high. They signalled they expected to cut their benchmark interest rate just once this year. The policymakers' forecast for one rate cut was down from a previous forecast of three, because of their concerns about inflation. Will far-right surge in Europe pressure renewable energy stocks?France's borrowing costs rise on Macron's snap election decisionIn a statement issued after its two-day meet...
Euronews (English)
Inflation in Germany for May was up 2.4% year-on-year, according to just published figures from the Federal Statistical Office. That was in line with analyst expectations, the first rise for five months and a slight rise from the three-year low of 2.2% seen in both March and April. The increase was mainly due to a rise in services costs, which came in at 3.9% in May, up from 3.4% in April. Food costs also increased, up 0.6% on last month, and 0.5% in April. However, the prices of goods saw a slowdown, inching up 1% in May, compared with 1.2% in the previous month, with energy prices continuing...
Euronews (English)
ValueWalk
Some significant events and economic data are poised to dominate market movements this week. Firstly, the outcome of the EU Elections is expected to shape equity market trends across the eurozone and impact the single currency. Additionally, the Fed is scheduled to decide on the interest rate, a pivotal event for global markets, following the European Central Bank’s rate cut last week. EuropeAfter the European stock market reached a record high last week, the outcome of the EU Parliamentary elections can be considered a pivotal factor impacting businesses in the euro area. This, in turn, will ...
Euronews (English)
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