LONDON, Nov 2 - British bonds were on track for their best day in more than a month on Thursday and stocks jumped after the Bank of England held interest rates steady for a second consecutive meeting.
The BoE left borrowing costs unchanged at 5.25% and published forecasts which showed the British economy was likely to skirt close to a recession and flat-line in the coming years. Yet Field said Thursday's rally in bonds only went some way to undoing the sharp sell-off that has pushed yields to around their highest level in decades.
Traders in derivatives markets on Thursday briefly moved to fully price in a BoE rate cut in August 2024, although later dialled that bet back slightly. They see two rate cuts by the end of next year, according to LSEG data.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bailey Pushes Back Against UK Market Reaction to BOE DecisionBank of England Governor Andrew Bailey pushed back against the market’s reaction to its latest decision after investors built up bets on interest rate cuts in the UK next year.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Stock market news today: US stocks waver in countdown to FedInvestors are weighing events in the bond market for any fallout for stocks as the Fed's meeting begins.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market news today: US futures slip with Fed rates decision on deckInvestors are laser-focused on the Fed policy statement and Chair Jerome Powell's comments for clues to how interest rates will evolve.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market news today: Stocks rise with Fed rates decision on deckInvestors are laser-focused on the Fed policy statement and Chair Jerome Powell's comments for clues to how interest rates will evolve.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market news today: US stocks close higher in countdown to FedInvestors are weighing events in the bond market for any fallout for stocks as the Fed's meeting begins.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market news today: Stocks rise as Fed holds rates steadyIn a move widely expected by investors, the Federal Reserve opted to hold interest rates steady at their latest meeting on Wednesday,
Source: YahooFinanceCA - 🏆 47. / 63 Read more »