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0 News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/british-pound-weakens-as-inflation-data-and-economic-events-drive-market-sentiment/
The British pound weakened as markets absorbed the latest inflation data and prepared for upcoming economic events.
The Consumer Price Index (CPI) rose by 0.1% month-on-month and 2.6% year-on-year, meeting expectations. Core inflation edged up to 3.5%, slightly below market forecasts, indicating a modest easing of underlying price pressures.
The benchmark 10-year gilt yield remains near its recent high of around 4.5%, reflecting ongoing concerns about inflation.
With key central bank decisions from the Federal Reserve and the Bank of England (BoE) on the horizon, bond market volatility is expected to persist. Later today, the Fed’s anticipated 25 basis point rate cut could offer some support to the pound, although a more hawkish stance might limit further gains.
Attention will then shift to the BoE’s upcoming meeting, where any unexpected decisions could drive substantial movements in both the currency and bond markets.
News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/british-pound-weakens-as-inflation-data-and-economic-events-drive-market-sentiment/
