BoE’s Greene Drops a Hint That Rate Cuts Are Far From Over — Here’s What That Means for Your Wallet and the Market Now
Ever wonder if the Bank of England’s taps on interest rates are more like a gentle drizzle or a sudden downpour? Megan Greene, a sharp voice from the BoE’s Monetary Policy Committee, dropped some intriguing insights at the IMF and World Bank shindig in Washington, DC — and she’s got us thinking differently about inflation and labor markets. She argues that the usual fearsome wage-price spiral might be losing steam thanks to slack opening up in the labor market — yes, that old nemesis of rising wages pushing prices higher might not be as loud as we once thought. Curious how this plays into unemployment trends and whether the BoE is done cutting rates or not? Well, the rate-cutting cycle isn’t quite ready to pack its bags yet. Plus, with the British Pound flexing its muscle against major currencies today, there’s plenty to chew on for investors and entrepreneurs alike. Dive into the details and see what’s really stirring beneath the surface. LEARN MORE
Bank of England (BoE) MPC member Megan Greene spoke about inflation dynamics, the global rate path, and risks in currency markets at the annual meetings of the International Monetary Fund and World Bank Group, hosted by the Atlantic Council in Washington, DC. She claimed that slack has opened up in the labor market, making the wage part of the wage-price spiral less likely.
Key Takeaways
Slack has opened up in labour market, making wage part of wage-price spiral less likely.
Latest rise in uk unemployment is in line with what we were expecting.
We should not cut rates every quarter, but rate cutting cycle not over.”
Pound Sterling Price Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.15% | 0.16% | 0.00% | -0.11% | -0.01% | 0.00% | -0.08% | |
| EUR | -0.15% | -0.01% | -0.12% | -0.26% | -0.16% | -0.16% | -0.22% | |
| GBP | -0.16% | 0.00% | -0.14% | -0.27% | -0.16% | -0.15% | -0.22% | |
| JPY | 0.00% | 0.12% | 0.14% | -0.11% | -0.02% | -0.02% | -0.09% | |
| CAD | 0.11% | 0.26% | 0.27% | 0.11% | 0.10% | 0.13% | 0.03% | |
| AUD | 0.00% | 0.16% | 0.16% | 0.02% | -0.10% | 0.00% | -0.04% | |
| NZD | -0.01% | 0.16% | 0.15% | 0.02% | -0.13% | -0.01% | -0.07% | |
| CHF | 0.08% | 0.22% | 0.22% | 0.09% | -0.03% | 0.04% | 0.07% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
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