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Top StoriesBank of England’s Mann Says Weak Pound Makes Case for Big Rate Hike
Bank of England’s Mann Says Weak Pound Makes Case for Big Rate Hike
Date: June 20, 2022
By David Milliken and William Schomberg LONDON (Reuters) -The Bank of England should raise rates faster than it has so far because sterling’s weakness is adding to Britain’s inflation pressures, interest-rate setter Catherine Mann said on Monday. Mann – who voted unsuccessfully for a half-point increase in interest rates last week – said the U.S....
Euro Rises With Focus on Ecb, Dollar Retreats
Date: June 20, 2022
By Samuel Indyk LONDON (Reuters) – The euro rose on Monday as markets focused on the European Central Bank’s tools to fight fragmentation in the currency bloc, looking through the risk of political gridlock in France for now after President Emmanuel Macron lost an absolute majority in the country’s parliamentary election. Macron’s Ensemble alliance secured...
Russian Gas to Europe Falls Short as Heatwave Drives Demand
Date: June 17, 2022
By Nina Chestney LONDON (Reuters) -Russian gas flows to Europe fell short of demand on Friday, coinciding with an early heatwave gripping its south and boosting benchmark prices already lifted by concerns the continent may struggle to build up storage in time for winter. Italy and Slovakia reported receiving less than half of the usual...
Swiss Franc in Biggest Daily Jump Since 2015 After Rate Hike
Date: June 16, 2022
By Joice Alves and Julien Ponthus LONDON (Reuters) -Switzerland’s franc soared on Thursday after the Swiss National Bank took markets by surprise with a large interest rate hike, putting the currency on track for its biggest one-day rise against the euro in more than seven years. The central bank had broadly been expected to stand...
Sterling Edges up After BoE’s Tentative Rate Hike
Date: June 16, 2022
By Lawrence White LONDON -Sterling rose on slightly on Thursday, recouping losses earlier in the day after the Bank of England (BoE) raised interest rates by 25 basis points and confounded forecasts by some market participants of a bigger hike to fight soaring inflation. The pound was last up 0.29% on the day at $1.2212...
Pound Rebounds but Headwinds Blow Ahead of BoE Decision
Date: June 15, 2022
LONDON (Reuters) -Sterling recovered from its lowest level against the dollar since March 2020 on Wednesday, a day ahead of the Bank of England’s rate decision, but the reprieve could prove temporary due to slowing economic growth and growing post-Brexit tensions. Britain’s growth prospects are seen among the weakest for rich countries in 2023, and...