The outlook for a summer interest rate cut should become clearer today when the Bank of England publishes its latest economic forecasts. Interest rates are set to stay at a 16-year high of 5.25%, with the focus on whether inflation has been tamed to allow a rate cut as soon as next month. On the corporate front, Balfour Beatty, ITV and BAE Systems have posted updates while Watches of Switzerland has bought an American retailer.
Announcement due on Thursday as economists expect interest rate to remain at 5.25 per cent
A fresh record for the FTSE 100 index and trading updates by JD Wetherspoon and Informa today provided more cheer for investors. Loss-making fashion chain Boohoo and the insurer Direct Line fared less well in the City, having also reported this morning. The Bank of England’s two-day policy meeting is underway, with Sweden’s central bank today cutting interest rates.
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