Why the BoE is unlikely to cut rates despite CPI at 2%?! | MarketTalk: What’s up today? | Swissquote

Show notes

Appetite in Europe was weak yesterday in the absence of American markets. The French CAC40 remained firmly offered near its 200-DMA and fell 0.77%, the European Stoxx 600 index retreated 0.17%, and the Swiss SMI consolidated above the 12’000 mark while the FTSE 100 took out the 50-DMA and closed slightly higher at yesterday’s trading session.
Crude oil consolidated gains above the $80pb and remains supported by positive trend vibes since it stepped into the medium bullish consolidation zone after it cleared the major 38.2% Fibonacci resistance on April to June rally.
The day will bring three important policy announcements on top of China’s. China maintained its rates unchanged today at record lows, as expected, and the People’s Bank of China (PBoC) signaled a new toolkit that could allow the Chinese central bank to start buying government bonds – which would be a new way of injecting liquidity into the markets.
The Swiss National Bank (SNB) …. and the Bank of England (BoE) is not expected to make a chance before fall.
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