News Formal

London stocks climb as surprise inflation dip spurs rate-pause bets

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 78%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Market News

Sept 20 - UK stocks rose on Wednesday after data showing a surprise fall in inflation in August boosted sentiment and raised hopes that the Bank of England was nearing the end of its interest rate hiking cycle.

Britain's annual consumer price inflation unexpectedly fell to 6.7% last month from 6.8% in July, data showed, prompting investors to bolster bets that the BoE would pause its historic run of rate hikes as soon as Thursday."CPI data makes tomorrow's decision a little bit more balanced and the market is no longer fully priced for a rate hike," said Michael Metcalfe, head of macro strategy at State Street Global Markets.

Money markets are betting on a 45% chance for the BoE to hold interest rates steady at 5.25% on Thursday. Rate-sensitive homebuilder stocks jumped 3.8%, leading sectoral gains and aiding a 1.2% rise in mid-cap stocks .

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 13. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock futures step higher as markets wait for Fed: Stock market news todayWall Street stocks set up for a higher open as investors focus on what the Fed plans for the future.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks slide ahead of Fed meeting, Instacart IPO: Stock market news todayStocks fell on Tuesday as the Federal Reserve was set to begin its latest policy meeting.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks slide as Fed meeting begins, Instacart IPO: Stock market news todayStocks fell on Tuesday as the Federal Reserve was set to begin its latest policy meeting.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks end lower amid Fed meeting, Instacart IPO: Stock market news todayStocks fell on Tuesday as the Federal Reserve began its latest policy meeting.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

US futures step higher as markets wait for Fed: Stock market news todayWall Street stocks set up for a higher open as investors focus on what the Fed plans for the future.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks step higher as markets wait for Fed: Stock market news todayWall Street stocks set up for a higher open as investors focus on what the Fed plans for the future.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »