* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, June 10, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    Leading Proxy Advisory Firm Glass Lewis Recommends Shareholders Vote “FOR” Both of PENN Entertainment’s Director Nominees on the WHITE Proxy Card – Business Wire

    Glass Lewis Urges Shareholders to Support All PENN Entertainment Director Nominees on the WHITE Proxy Card

    Cisco Partners with Monumental Sports & Entertainment to Power New D.C. Arena – Cisco Newsroom

    Cisco Teams Up with Monumental Sports & Entertainment to Revolutionize the New D.C. Arena Experience

    Middle Eastern Entertainment Headlines at 5:49 a.m. GMT – Yahoo

    Exciting Updates from the Middle Eastern Entertainment Scene!

    Ceramic Dalmatian Entertainment is WLAF’s Business of the Week – WLAF

    Spotlight on Success: Ceramic Dalmatian Entertainment Shines as This Week’s Featured Business!

    Brass Lion Entertainment unveils co-op action RPG Wu-Tang: Rise of the Deceiver – VentureBeat

    Unleash Your Inner Warrior: Discover the Co-Op Action RPG Wu-Tang: Rise of the Deceiver!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

    Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

    SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

    SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

    Technology, Labor Rights, and Political Power in Kenya and Across Africa – Tech Policy Press

    How Technology is Shaping Labor Rights and Political Power Across Africa

    Reeves to Announce £86 Billion for Science and Technology in Spending Review – Bloomberg

    Reeves Set to Unveil Groundbreaking £86 Billion Investment in Science and Technology!

    Innovation at Scale: How P&G Transforms Business Through Technology – Procter & Gamble

    Revolutionizing Business: P&G’s Bold Journey into Technological Innovation

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    Leading Proxy Advisory Firm Glass Lewis Recommends Shareholders Vote “FOR” Both of PENN Entertainment’s Director Nominees on the WHITE Proxy Card – Business Wire

    Glass Lewis Urges Shareholders to Support All PENN Entertainment Director Nominees on the WHITE Proxy Card

    Cisco Partners with Monumental Sports & Entertainment to Power New D.C. Arena – Cisco Newsroom

    Cisco Teams Up with Monumental Sports & Entertainment to Revolutionize the New D.C. Arena Experience

    Middle Eastern Entertainment Headlines at 5:49 a.m. GMT – Yahoo

    Exciting Updates from the Middle Eastern Entertainment Scene!

    Ceramic Dalmatian Entertainment is WLAF’s Business of the Week – WLAF

    Spotlight on Success: Ceramic Dalmatian Entertainment Shines as This Week’s Featured Business!

    Brass Lion Entertainment unveils co-op action RPG Wu-Tang: Rise of the Deceiver – VentureBeat

    Unleash Your Inner Warrior: Discover the Co-Op Action RPG Wu-Tang: Rise of the Deceiver!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

    Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

    SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

    SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

    Technology, Labor Rights, and Political Power in Kenya and Across Africa – Tech Policy Press

    How Technology is Shaping Labor Rights and Political Power Across Africa

    Reeves to Announce £86 Billion for Science and Technology in Spending Review – Bloomberg

    Reeves Set to Unveil Groundbreaking £86 Billion Investment in Science and Technology!

    Innovation at Scale: How P&G Transforms Business Through Technology – Procter & Gamble

    Revolutionizing Business: P&G’s Bold Journey into Technological Innovation

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Pound Sterling soars as BoE remains concerned about sticky inflation

December 14, 2023
in Business
Pound Sterling soars as BoE remains concerned about sticky inflation
Share on FacebookShare on Twitter

Pound Sterling recovers further on steady monetary policy by the BoE.
The BoE was expected to keep interest rates steady due to a weakening economy and falling inflation.
Three BoE policymakers supported raising interest rates further.

The Pound Sterling (GBP) has extended its rally above 1.2700 against the US Dollar after the Bank of England (BoE) maintained interest rates steady at 5.25% in the finale of 2023. This was the third straight time when the BoE maintained the status quo through a 6-3 majority as anticipated. BoE policymakers: Megan Greene, Jonathan Haskel, and Katherine Mann endorsed raising interest rates one more time by 25 basis points (bps).

BoE Governor Andrew Bailey kept doors open for further policy-tightening and remained stuck to the ‘higher for longer interest rates’ narrative. Bailey warned that measures of inflation persistence are higher in the UK economy than in other major advanced economies.

Meanwhile, the shrinking UK economy has put UK Prime Minister Rishi Sunak’s promise of ramping growth in jeopardy as the economy is struggling to absorb the consequences of higher interest rates. This could dampen the outlook of GBP/USD ahead.

Daily Digest Market Movers: Pound Sterling rallies as BoE worries about sticky inflation

Pound Sterling climbs to near 1.2700 as the BoE has kept interest rates unchanged at 5.25% as anticipated by the market participants.
The BoE held interest rates unchanged at 5.25% for the third consecutive time but warned that further tightening in monetary policy would be required if there were evidence of more persistent inflationary pressures.
Out of the nine-member MPC-led committee, policymakers: Megan Greene, Jonathan Haskel, and Katherine Mann supported raising interest rates by quarter-to-a-percent to 5.50%. 
Easing price pressures, falling pay growth, and a shrinking economy seem supportive factors for maintaining a status quo by the BoE.
In the three months to October, earnings excluding bonuses grew at a slower pace of 7.3% against expectations of 7.4% and the former reading of 7.8%. Wage growth is slowing but it is still high. 
UK’s headline inflation has sharply declined to 4.6% in October. 
Monthly Gross Domestic Product (GDP) contracted 0.3% in October, more than the 0.1% forecasted by markets.  This is the first contraction since July. The Office for National Statistics (ONS) attributed exceptionally wet weather to the decline in GDP. 
A significant fall in Manufacturing and Industrial Production has raised concerns of a potential recession in the UK economy.
With a sharp decline in the UK’s economic activity, BoE policymakers are expected to follow the footprints of the Fed and will discuss cutting interest rates in 2024.
UK Chancellor Jeremy Hunt said that a sharp impact of higher interest rates on the economy was inevitable. 
The market mood favors risk-perceived assets as Jerome Powell remained surprisingly dovish while guiding further monetary policy action on Wednesday.
The Fed lowered their core Personal Consumption Expenditure (PCE) projections for 2024 and 2025 and hinted at three rate cuts in 2024. 
A “soft landing” scenario from the Fed is highly anticipated, which indicates that the economy has managed to tame inflation without any economic collapse and higher jobless rates.

Technical Analysis: Pound Sterling aims stabilization above 1.2700

Pound Sterling jumps above 1.2700 as the BoE has kept the interest rates unchanged at 5.25% as expected. The GBP/USD pair trades near a nine-day high of around 1.2650 after a sharp recovery from the psychological support of 1.2500.

On a broader note, more strength in the Pound Sterling would allow the GBP/USD pair to re-test November’s high around 1.2733, which coincides with the 61.8% Fibonacci retracement. The 20-day Exponential Moving Average (EMA) at 1.2557 is expected to continue to provide support to the Pound Sterling bulls.

Pound Sterling FAQs

The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data.
Its key trading pairs are GBP/USD, aka ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE).

The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.
When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.

Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.
A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall.

Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FXStreet – https://www.fxstreet.com/news/pound-sterling-clings-to-gains-ahead-of-boe-policy-meeting-202312140803

Tags: businessPoundSterling
Previous Post

Gold Price Forecast: XAU/USD set to hit fresh highs in 2024 – MUFG

Next Post

Natural Gas goes nowhere with ECB not copying Fed’s guidance

How the Shallowing of the Caspian Sea Will Affect Kazakhstan’s Ecology and Economy – The Times Of Central Asia

The Disappearing Caspian Sea: Exploring Its Dramatic Effects on Kazakhstan’s Environment and Economy

June 10, 2025
NIH scientists call on director to protect biomedical research – NPR

NIH Scientists Call for Bold Action to Protect the Future of Biomedical Research

June 10, 2025
Commentary: Trump’s NASA cuts would destroy decades of science and wipe out its future – Los Angeles Times

How Trump’s NASA Cuts Could Derail Decades of Scientific Breakthroughs and Jeopardize Our Future

June 10, 2025

Costco Shoppers Are Loving the ‘Refreshing’ New Frozen Summer Treat That Was Just Added to the Food Court Menu – Yahoo

June 10, 2025
How a forgotten tape recorder led to Tunde Adebimpe’s debut album : World Cafe – NPR

How a forgotten tape recorder led to Tunde Adebimpe’s debut album : World Cafe – NPR

June 10, 2025
Spain’s economy to grow at steady rate, central bank predicts – Investing.com

Spain’s Economy Set for Steady Growth, Central Bank Forecasts

June 10, 2025
3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

June 10, 2025

Inside US Health Secretary Kennedy’s Bold Vaccine Strategies and Game-Changing Policy Moves

June 10, 2025
A Professor Was Fired for Her Politics. Is That the Future of Academia? – The New York Times

A Professor Was Fired for Her Politics. Is That the Future of Academia? – The New York Times

June 10, 2025
Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

Study uncovers SiPore Technology’s capacity to regulate blood glucose levels – Nutraceutical Business Review

June 10, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (680)
  • Economy (694)
  • Entertainment (21,599)
  • General (15,313)
  • Health (9,736)
  • Lifestyle (698)
  • News (22,149)
  • People (695)
  • Politics (701)
  • Science (15,912)
  • Sports (21,196)
  • Technology (15,680)
  • World (679)

Recent News

How the Shallowing of the Caspian Sea Will Affect Kazakhstan’s Ecology and Economy – The Times Of Central Asia

The Disappearing Caspian Sea: Exploring Its Dramatic Effects on Kazakhstan’s Environment and Economy

June 10, 2025
NIH scientists call on director to protect biomedical research – NPR

NIH Scientists Call for Bold Action to Protect the Future of Biomedical Research

June 10, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version