{"id":88992,"date":"2024-08-01T09:41:00","date_gmt":"2024-08-01T06:41:00","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=88992"},"modified":"2026-02-04T09:36:37","modified_gmt":"2026-02-04T07:36:37","slug":"boe-interest-rate-decision-due-today","status":"publish","type":"post","link":"https:\/\/www.smartchinaeducation.com\/ko\/boe-interest-rate-decision-due-today\/","title":{"rendered":"BoE interest rate decision due today"},"content":{"rendered":"

The BoE\u2019s interest rate decision is set to occur during today\u2019s European session. Currently, the majority of market participants are anticipating the bank to cut interest rates by 25bp from 5.25% to 5%, with GBP OIS currently implying a 63% probability for such a scenario to materialize, with the rest being attributed to the bank keeping interest rates steady.The Fed kept interest rates steady yesterday, as was widely expected by market participants. In the bank\u2019s accompanying statement<\/a>, it was stated that \u201cthere has been some further progress toward the Committee’s 2 percent inflation objective\u201d, implying that with progress being made in the battle against inflation, the door for a September rate cut is open. In particular, FFF currently implies an 88.25% probability for a 25bp cut. As such, should Fed policymakers further imply that a rate cut may occur in September it could weigh on the greenback. However, the US Employment data for July which is set to be released tomorrow upend the current market expectations, should the US Employment data showcase a resilient labour market.Over in Asia, China\u2019s Caixin manufacturing PMI figure for July came in lower than expected at 49.8 and has now entered contraction territory. The financial release implies that China\u2019s manufacturing sector may be shrinking and thus given the close economic ties between Australia and China, it could lead to a reduction in demand for raw materials stemming from Australia, which in turn may weigh on the AUD.Tensions in the Middle East are escalating, with the NYT reporting that Iran\u2019s supreme leader, Ayatollah Ali Khamenei has ordered a retaliation strike against Israel. The renewed possibility of a war may have provided support for gold and oil prices.<\/p>\n\n\n\n

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