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Bank of England to cut rates on December 18 to 3.75% and again in Q1 2026 - Reuters poll

Bank of England to cut rates on December 18 to 3.75% and again in Q1 2026 - Reuters poll

LONDON, Dec 11 (Reuters) - The Bank of England will cut interest rates by a quarter point to 3.75% on December 18, according to all economists polled by Reuters, with evidence showing still-elevated inflation drifting downwards convincing most that a tightly split policy committee will flip towards
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Bank of England's Bailey says continued QT needed to end interest rate risk

Bank of England's Bailey says continued QT needed to end interest rate risk

By David Milliken LONDON, Dec 11 (Reuters) - Bank of England Governor Andrew Bailey said he wants to remove as much interest rate risk as possible from the BoE's balance sheet, suggesting he will seek to largely eliminate its remaining 553 billion pounds ($740 billion) of gilt holdings.
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Big central banks edge back towards hiking mode, but Fed keeps cutting

Big central banks edge back towards hiking mode, but Fed keeps cutting

By Alun John and Naomi Rovnick LONDON, Dec 11 (Reuters) - Central banks in big economies are signaling a change of stance, with many now on hold after a long easing cycle, and policymakers flagging that their next moves, in time, could be rate hikes. The U.S.
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UK housing market slows after tax-raising budget, RICS survey shows

UK housing market slows after tax-raising budget, RICS survey shows

MANCHESTER, England, Dec 11 (Reuters) - Britain's housing market slowed after finance minister Rachel Reeves' budget last month, according to a survey of chartered surveyors that showed buyer enquiries falling at the fastest rate in over two years.
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Bank of England's Taylor expects inflation to fall to target 'in the near term'

Bank of England's Taylor expects inflation to fall to target 'in the near term'

LONDON, Dec 8 (Reuters) - British inflation is likely to return to its 2% target "in the near term" as wage growth and inflation in the services sector look set to slow further, Bank of England policymaker Alan Taylor said on Monday.
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Morning Bid: Wobbling bonds find a level as Fed meets

Morning Bid: Wobbling bonds find a level as Fed meets

By Mike Dolan Dec 9 - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Fed week got off to a rocky start in global markets, courtesy of bond market hits across the world, but government debt yields stabilized on Tuesday as the Federal Reserve started
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Sterling ticks lower as traders brace for busy week

Sterling ticks lower as traders brace for busy week

LONDON, Dec 8 (Reuters) - The pound dipped on Monday, although volatility remained contained, as investors prepared for an action-packed week that, among other things, could bring a U.S. rate cut. 
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UK grocery inflation steady at 4.7%, keeps pressure on households, says Worldpanel

UK grocery inflation steady at 4.7%, keeps pressure on households, says Worldpanel

By James Davey LONDON, Dec 9 (Reuters) - British grocery inflation held steady at 4.7% in the four weeks to November 30, industry data showed on Tuesday, keeping the pressure on households who are facing higher bills as they head into the Christmas holiday period.
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UK Consumer Spending Declines Amid Economic Uncertainty, Impacting Retail Sector

UK Consumer Spending Declines Amid Economic Uncertainty, Impacting Retail Sector

British consumers reduced their spending in November, marking the steepest annual decline in almost five years. This pullback is attributed to uncertainty surrounding the government's budget and rising economic concerns, leading to delayed Christmas purchases. Barclays reported a 1.1% year-on-year decline in card spending, the largest since February 2021. Despite Black Friday promotions, overall spending remained subdued, with food sales rising 3% but still below the inflation rate. Non-food sales saw minimal growth, and political tensions further exacerbated the slowdown. Economists predict the Bank of England may cut interest rates to stimulate the economy.
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UK consumer spending disappointed in November, surveys show

UK consumer spending disappointed in November, surveys show

By Andy Bruce MANCHESTER, England, Dec 9 (Reuters) - British consumers kept a tight rein on their spending in November as they awaited finance minister Rachel Reeves' budget, while retailers said Black Friday sales disappointed, according to surveys on Tuesday.
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Fed likely to lower borrowing costs this week, but follow-up rate cuts face longer odds

Fed likely to lower borrowing costs this week, but follow-up rate cuts face longer odds

The Federal Reserve faces an unusually contentious meeting this week that will test Chair Jerome Powell’s ability to corral the necessary support from fellow policymakers for a third straight interest rate cut
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Central bank body BIS raises concerns of gold and stocks double bubble

Central bank body BIS raises concerns of gold and stocks double bubble

By Marc Jones LONDON, Dec 8 (Reuters) - The combination of gold and share prices soaring in unison is a phenomenon not seen in at least half a century and raises questions of a potential bubble in both, global central bank umbrella body, the Bank for International Settlements, says.