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Day: August 5, 2021

Bank of England’s Subdued Signal of Future Tightening

Summary The Bank of England (BoE) held monetary policy steady at today’s announcement, but sent a subdued signal of future policy tightening in its accompanying statement. Specifically, the BoE said some modest tightening of monetary policy over the forecast period is likely to be necessary if the economy evolves in lines with its projections. The …

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BOE Signals Earlier Unwinding of Balance Sheet. Modest Tightening On the Way

The BOE voted unanimously to keep Bank rate at 0.1%, and 7-1 to leave purchases of government bond at 875B pound. While the latter decision came less hawkish than we had anticipated (we expected 2 dissents), British pound got a boost as policymakers hinted about “modest tightening”. Upgrading Inflation Forecast The staff revised higher 2Q21 …

BOE Signals Earlier Unwinding of Balance Sheet. Modest Tightening On the WayRead More

Continuing jobless claims hit new pandemic-era low, falling below 3 million

Initial claims for unemployment insurance edged lower last week, meeting Wall Street expectations, while longer-term unemployment signs showed improvement, the Labor Department reported Thursday. First-time filings for benefits dipped to 385,000 for the week ended July 31, a decline of 14,000 from the previous week as the jobs market remains essentially in a holding pattern …

Continuing jobless claims hit new pandemic-era low, falling below 3 millionRead More

Sterling Lifted Slightly after BoE, But Overall Markets Tread Water

Sterling was lifted very briefly after BoE policy decision, but there was again no follow through buying. Dollar also pays little attention to jobless claims. Overall, the markets are staying in consolidative mode, and would probably stay so before tomorrow’s non-farm payrolls report. As of now, Kiwi is the strongest one for the week followed …

Sterling Lifted Slightly after BoE, But Overall Markets Tread WaterRead More