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RR
Rickie Reeve
@rickiereeve · Aug 3

Some information from today's Bank of England meeting:
Interest rates are expected to rise 25 points from 5.00% to 5.25%.
Further increases are in play if price pressures persist. Some of the inflation risks could start to crystallise. The BOE also raised inflation expectations for 2024 from 2.25% to 2.5% and for 2025 from 1% to 1.5%.
Further, the BoE still expects the UK to avoid recession despite slowing growth.
Traders see a 68% chance of another 25 point rate hike at the next meeting in September. 32% for no hike.

BC
Bill Combs @billcombs Aug 6

Great, thanks for the summary, I finally have a glimpse of what's going on in England again😁.

RR
Rickie Reeve @rickiereeve Aug 6

You're welcome. 😉 Actually, no major change.

WS
Willard Spencer @willardspencer Aug 3

Hmm... so it's not over after all...

RR
Rickie Reeve @rickiereeve Aug 3

They've got it pretty good in England. It's going to drag on for a long time.

AA
Ashraf Aboudar @ashraf_dd Aug 3

Super summary. Markets are bouncing back from yesterday's washout today, but the pound to the crown is rising. It may have an impact though probably the bigger one is the CNB meeting.

RR
Rickie Reeve @rickiereeve Aug 3

The pound to the USD is perhaps the lowest since June. That was the CNB's doing, as you say.

DD
Daniela Duong @danieladuong Aug 3

Super thanks for the info