Investors await BOE verdict on whether budget hinders rate cuts

Quick Summary:

The Bank of England may extinguish hopes of a shift to quicker interest-rate cuts this week after the budget reignited inflation concerns and triggered a selloff in UK bonds that evoked memories of the 2022 market meltdown.

The Office for Budget Responsibility’s verdict suggested that the budget policies added 0.4 percentage points to inflation at the peak impact in 2026.

The scale of the fiscal giveaway “increases the risk the BOE skips the December cut and undermines Governor Bailey’s hopes of the BOE becoming more activist with rate cuts.

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Article Details

Author / Journalist: Tom Rees & Greg Ritchie | Bloomberg

Category: BusinessStartups

Markets: Philippines

Topics: Inflation Market Hopes Bank Budget Year Bonds Rate Cuts Week December

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-04 @ 11:31:16 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 983 words

Reading Time: 6 minutes read

Sentences: 29 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23394265

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Official Website: businessmirror.com.ph

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News Last Updated: 17 hours ago

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