BUSINESS LIVE: BofE expected to cut base rate; Rolls faces supply chain hit; ITV Studios still suffers US strikes
By Live Commentary
Updated:
The Bank of England is expected to cut interest rates again later today, despite the reemergence of concerns about a looming revival in inflationary pressures.
Markets expect the bank’s Monetary Policy Committee to vote for another 25 basis points cut to 4.75 per cent at midday.
The FTSE 100 will open at 8am. Among the companies with reports and trading updates today are Rolls-Royce, ITV, Sainsbury’s, Taylor Wimpey, Auto Trader Group, S4 Capital and Trainline. Read the 7 November Business Live blog below.
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BofE and Fed set to cut rates today: UK rate setters likely to stay tight lipped on outlook
Michiel Tukker, senior european rates strategist at ING:
‘The main focus in the wake of the elections is the policy-setting meetings of the Fed and the BoE.
‘The Fed is firmly expected to cut by another 25bp, but the elections have important implications for the longer-run outlook of the Fed.
‘Chair Powell’s commentary on the current economic environment and how the next US president could likely influence the outlook will be of huge significance.
‘The BoE is also very likely to cut rates by 25bp again, but the combination of extra fiscal stimulus and the US election aftermath means officials won’t want to comment on its next steps.’
BofE expected to cut base rate at midday
The Bank of England is expected to cut interest rates again later today, despite the reemergence of concerns about a looming revival in inflationary pressures.
Markets expect the bank’s Monetary Policy Committee to vote for another 25 basis points cut to 4.75 per cent at midday.
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BUSINESS LIVE: BofE expected to cut base rate; Rolls faces supply chain hit; ITV Studios still suffers US strikes
