Source: Bank of England The Bank of England hinted at a possible interest rate hike as soon as November, with inflation seen to breach 4% amid the surge in energy prices. The central bank noted that some developments had strengthened the case for modest tightening, but uncertainties remain.Any tightening in policy would begin with a hike in interest rates, even if it … [Read more...] about Bank of England Hints at Possible Rate Hike Within 2021
Forex News
UK Output Cools to Seven-Month Low in September on Supply-Chain Disruptions
Source: IHS Markit The United Kingdom output declined for the fourth straight month in September, dragged by ongoing supply-chain issues. The IHS Markit / CIPS Flash UK Composite Output Index fell to 54.1 in September. This is the weakest since March.Business activity dropped to a seven-month low of 54.6, as new order growth and job creation slowed, while employment fell … [Read more...] about UK Output Cools to Seven-Month Low in September on Supply-Chain Disruptions
Eurozone Business Activity Slips to Five-Month Low as Costs Hit 21-Year High
Source: IHS Markit The Eurozone business activity slowed to a five-month low in September, as supply issues and pandemic concerns weighed down output while costs rose to a 21-year high. The Eurozone PMI Composite Output Index slipped to 56.1 from 59.0 in August. This is the lowest since April but remains above the pre-pandemic trend.Costs surged to post a 21-year high … [Read more...] about Eurozone Business Activity Slips to Five-Month Low as Costs Hit 21-Year High
German Economy Slips to Seven-Month Low in September
Source: IHS Markit The German economy slowed to a seven-month low in September, dragged by supply constraints during the month. The headline Flash Germany PMI Composite Index fell to 55.3, down from 60.0 the previous month. This is the lowest since February.The latest reading brought the third-quarter average to 59.2, up from 57.4 the second quarter and the highest in … [Read more...] about German Economy Slips to Seven-Month Low in September
Fed Hints on Tapering By November, Rate Hike in 2022
Source: WSJ The Federal Reserve indicated the possible tapering of its bond-buying program in November, and the possible interest rate hike next year amid the prolonged inflation uptick. DXY is down 0.37% The rate-setting committee said it could start to cut down on its $120-billion monthly bond purchases as soon as the next meeting scheduled November 2 and 3.Officials … [Read more...] about Fed Hints on Tapering By November, Rate Hike in 2022
