BUSINESS LIVE: BoE expected to hold base rate; Shell lines-up $3.5bn buyback; Haleon suffers weaker US demand

LIVE

By Live Commentary

Updated: 07:46 GMT, 2 November 2023

The Bank of England’s Monetary Policy Committee will reveal the next steps for UK interest rates at midday, with rate setters expected to opt for another pause at 5.25 per cent.

The FTSE 100 will open at 8am. Among the companies with reports and trading updates today are Shell, BT, Sainsbury’s, Haleon, Entain and British American Tobacco. Read the Thursday 2 November Business Live blog below.

> If you are using our app or a third-party site click here to read Business Live

Red Bull gives you wings: Son of founder scoops £500m payout

BoE expected to hold base rate

Shaan Raithatha, senior economist at Vanguard, Europe:

‘We think the MPC will keep the Bank Rate unchanged at 5.25 per cent. This is backed up by recent rhetoric by key members of the committee that suggest a preference for keeping rates at the current level for longer, rather than raising rates further from here.

‘For example, see [BoE chief economist Huw] Pill’s 16 October comments: “I am reasonably confident that interest rates at their current level are bearing down on inflation, are acting to squeeze out that persistent component of inflation”.’

***
Read more at DailyMail.co.uk

BUSINESS LIVE: BoE expected to hold base rate; Shell lines-up $3.5bn buyback; Haleon suffers weaker US demand

Red Bull gives you wings: Son of founder scoops £500m payout

BoE expected to hold base rate

: BUSINESS LIVE: BoE expected to hold base rate; Shell lines-up $3.5bn buyback; Haleon suffers weaker US demand

:
BUSINESS LIVE: BoE expected to hold base rate; Shell lines-up $3.5bn buyback; Haleon suffers weaker US demand