Latest news with #rate decision
Reuters
08-08-2025
- Business
- Reuters
UK stocks mixed; BoE rate split clouds outlook, Fed revamp in focus
Aug 8 (Reuters) - British stocks closed mixed on Friday as traders digested Thursday's Bank of England rate decision that reignited inflation worries, while weighing U.S. President Donald Trump's interim pick for a seat on the Federal Reserve board. The benchmark FTSE 100 (.FTSE), opens new tab closed 0.06% lower, but registered a weekly gain of 0.3%. The midcap FTSE 250 index (.FTMC), opens new tab rose 0.1% and posted a weekly gain of 1.2%. Investors this week weighed a slew of strong corporate earnings that helped British equities recover from last Friday's steepest drop in nearly four months. However, sentiment remained fragile following the BoE's split rate decision, where four of nine policymakers voted to hold rates steady amid persistent inflation concerns, signaling that the central bank's rate-cutting cycle may be nearing its end. The pound neared two-week highs on Friday, which further pressured export-oriented companies. Meanwhile, expectations for rate cuts in the U.S. solidified after Trump said he will nominate Council of Economic Advisers Chairman Stephen Miran to fill a vacant seat at the Federal Reserve for a few months. The White House also continues its search for a successor to Fed Chair Jerome Powell, whose term ends on May 15, 2026. Investors weighed the possibility that by appointing Miran to the Fed, even temporarily, could be a potential move by Trump to exert greater influence over monetary policy, aligning with his long-standing push for lower interest rates. In the market, industrial metal miners (.FTNMX551020), opens new tab rose 2%, tracking higher copper prices. Miners such as Glencore (GLEN.L), opens new tab and Antofagasta (ANTO.L), opens new tab were the top percentage gainers in the FTSE 100, up 2.8% and 2.5% respectively. Automobiles and parts stocks (.FTNMX401010), opens new tab led sectoral gains, rising 5.3%, with British auto parts supplier Dowlais (DWL.L), opens new tab topping the FTSE 250 with a 5.7% gain. London-listed shares of Georgia's TBC Bank (TBCG.L), opens new tab fell 5.1% after the lender reported its half-year results. Heading into the weekend, most firms pared back gains from earlier in the week, led by declines in personal goods (.FTNMX402040), opens new tab and travel & leisure (.FTNMX405010), opens new tab stocks, which fell 2.5% and 1.7%, respectively.
Bloomberg
07-08-2025
- Business
- Bloomberg
Autumn Budget Boosts the Case for Cut: CEBR CEO
Centre for Economics and Business Research CEO Nina Skero discusses the BOE rate decision and the downside risks of the upcoming autumn budget on the growth outlook with Bloomberg's Joumanna Bercetche on 'Daybreak Europe.' (Source: Bloomberg)
Bloomberg
07-08-2025
- Business
- Bloomberg
Trade Deal Eased Pressure Before Korea Rate Decision, Rhee Says
South Korea's trade deal with the US 'helped ease a significant burden' before this month's rate decision, Bank of Korea Governor Rhee Chang Yong said. While Rhee declined to elaborate on the likely direction of policy at the Aug. 28 meeting, the BOK is emerging from a two-month pause in its easing cycle that coincided with the trade talks. Economists remain divided on the outcome, with some expecting the central bank to hold rates and others forecasting a quarter-point cut.
