In London, the FTSE 100 Index dropped 63 points or 0.65 percent on Thursday. Losses were led by Hikma Pharmaceutical (-13.21%), Smith & Nephew (-11.16%) and Diageo (-6.45%). Offsetting the fall, top gainers were J Sainsbury (5.07%), IMI (4.29%) and Antofagasta (3.47%).
Bank of England: Pound Sterling Steady as Bailey Says “Wait and See” on Disinflation.The Bank of England held interest rates unchanged at 4.0% on Thursday, but a surprisingly close vote and dovish messaging suggested that a rate cut in December remains firmly on the table. Latest — Exchange Rates:Pound to Euro (GBP/EUR): 1.13582 (+0.04%)Pound to Dollar (GBP/USD): 1.31041 (+0.4%)Euro to Dollar (EUR/USD): 1.15371.
Pound Sterling Price News and Forecast: Rebounds after BoE's dovish hold but remains below 1.31.Pound Sterling Price News and Forecast: Rebounds after BoE's dovish hold but remains below 1.31
Bank of England holds rates in knife-edge vote that hints at December cut.The Bank of England's Monetary Policy Committee voted 5-4 to maintain the Bank Rate at 4.0%, citing a diminished risk of persistent high inflation. Despite the hold, a narrow vote and Governor Bailey's cautious optimism suggest a potential rate cut in December, influenced by upcoming economic data and the government's budget.
Goldman Sachs expects the Bank of England to cut rates by 25 basis points in December.Goldman Sachs is now expecting that the Bank of England will cut rates by 25 basis points in December after their interest rate decision today. About today was 5 – 4 with the 4 dissenters arguing for a cut of 25 basis points.