19:33:15
Bank of England Governor Bailey: We expect inflation to fall further to about 7% in July.
19:32:54
Bank of England Governor Bailey: Inflation is expected to continue to decline this year.
19:31:58
Bank of England Governor Bailey: Low and stable inflation is crucial for the economy.
19:23:44
UK 30-year bond yields rose to 4.64%, the highest level in three weeks, up 9 basis points on the day.
19:11:03
Market interest rates imply that the Bank of England will further tighten interest rates, with interest rates expected to reach 5.8% in the fourth quarter of 2023, 5.9% in the fourth quarter of 2024, and 5.0% in the fourth quarter of 2025 (May forecast: 5.0% in the fourth quarter of 2023 4.8%, 4.0% in the fourth quarter of 2024, and 3.7% in the fourth quarter of 2025).
19:09:59
UK 10-year government bond yields fell back after the BoE decision and were last up 0.40 basis points at 4.407%.
19:09:42
The UK 2-year government bond yield continued to fall, and was last down 7.10 basis points at 4.922%.
19:09:05
Bank of England: Wage growth expected to be 6% in the fourth quarter of 2023 (5% in May), 3.5% in the fourth quarter of 2024 (3.5% in May), and 2.5% in the fourth quarter of 2025 (May 2.5%).
19:08:43
Bank of England: The unemployment rate is expected to be 4% in the fourth quarter of 2023 (3.75% in May); 4.5% in the fourth quarter of 2024 (4% in May); and 4.75% in the fourth quarter of 2025 ( May forecast was 4.5%).
19:08:30
Bank of England: Housing investment expected to decline "significantly" -5.75% in 2023 (-4.25% in May), -6.25% in 2024 (-3.75% in May) and -3% in 2025 (5 month -0.5%).
19:08:08
Bank of England: Real after-tax household income expected to grow by 1.25% in 2023 (+1% forecast in May), fall by 0.25% in 2024 (+1% forecast in May), and grow by 0.25% in 2025 (+1% forecast in May) 1%).
19:07:48
Bank of England: Consumer Price Index fell unexpectedly in June, but the decline in core goods and services was much smaller.
19:07:30
After the BoE decision, traders saw a 68 percent chance of a 25 basis point rate hike at the September meeting and a 32 percent chance of keeping rates unchanged.
19:07:22
The Bank of England predicts that GDP will grow by 0.1% quarter-on-quarter in the second quarter of 2023 (the June forecast is flat); in the third quarter, it will grow by 0.4%.
19:06:39
The Bank of England model forecasts said risks remained skewed to the upside, but less than in May.
19:05:21
Bank of England: will pay close attention to economic resilience, as well as continued inflationary pressures.
19:05:03
After the BoE decision, traders expect rates to hit 5.68% in March 2024, from 5.74% previously.
19:04:16
Tip: The Bank of England raised its forecast for economic growth this year and lowered its forecast for economic growth in the next two years.
19:04:11
Bank of England Governor Bailey: Need to ensure that inflation rate "completely comes down" to 2%.
19:04:00
Bank of England: Forecast is conditioned on key rate just above 6%.