Interest rates may need to rise this year, says Bank of England economist
Interest rates may need to increase this year to keep rising prices under control, according to the Bank of England's chief economist.
Economy
Five pressing questions for Reform UK about its finances
On Tuesday, amid an investigation by parliamentary standards into an undisclosed £5m gift, Nigel Farage announced he would resign and trigger a byelection in his constituency of Clacton-on-Sea.
Canadian Dollar remains rangebound as weaker US Dollar offsets lower Oil prices
USD/CAD trades around 1.4170 on Thursday at the time of writing, virtually unchanged on the day, as weakness in the US Dollar (USD) offsets the negative impact of lower Oil prices on the Canadian Dollar (CAD).
Capita expects to lose up to £40m over pension scheme fiasco
Capita has revealed that the bill for cleaning up its mess at the crisis-hit Civil Service Pension Scheme could wipe up to £40m off annual profits – a day after its chief executive apologised to MPs for a “very poor ser…
South Korean Won: Gains hinge on supportive flows against US Dollar – OCBC
Christopher Wong notes that Korean Won strength remains largely flow-driven, with USD/KRW dropping below 1,500 on offshore fund repatriation and official vigilance. While bearish momentum persists, Wong expects the pull…
Germany set to make rental e-scooter operators liable for accidents
Measures aim to make it easier for victims to gain compensation, with firms such as Bolt and Lime held responsible for damage
Fed: Divergent inflation paths shape rate outlook – Societe Generale
Societe Generale’s Jan Groen notes that the June Federal Open Market Committee (FOMC) minutes confirmed a hawkish hold, with the Summary of Economic Projections (SEP) showing an even split between members favoring uncha…
Big fall in oil, gas and cargo ships taking US-backed Hormuz route after new strikes
Traffic through the Strait of Hormuz has fallen steeply after a series of tit-for-tat strikes by the US and Iran following an attack on three tankers earlier this week.
Fed: Hawkish minutes keep upside rate risks – ING
ING strategists Michiel Tukker and Benjamin Schroeder note that the Federal Reserve’s June minutes confirmed a more hawkish stance despite an unchanged policy rate. They highlight that nine officials pencilled in higher…
Czech Koruna: CNB alignment may weigh CZK against Euro – BNY
Geoff Yu at BNY Mellon highlights that Czech National Bank policy expectations have risen alongside the ECB, yet the Czech Koruna is sliding on a nominal effective basis. He argues that closely matching Eurozone tighten…
Record: Chinese investors pull $2.22 billion from Gold ETFs in June, the highest monthly outflow ever
Chinese investors sharply trimmed their Gold ETF holdings in June, exacerbating global outflows for the month, as local investor risk appetite continued to improve amid equity market gains and a weaker Gold price, data …
Chinese Yuan: Range consolidation after recent retreat against US Dollar – UOB
UOB’s Quek Ser Leang notes that after a prior rise in USD/CNH, upward momentum has now faded, with the pair expected to trade between 6.7950 and 6.8100 in the near term. The analyst reiterates that a close above 6.8080 …
Aluminium: Price outlook shifts lower as market rebalances – TD Securities
TD Securities strategists have downgraded its Aluminium price outlook as supply recovers and demand softens. They now expect Aluminium to average $3,378/t in 2026 and $3,281/t in 2027, projecting smaller deficits and a …
Oil: Strait of Hormuz risks keep prices supported – BNY
BNY’s Geoff Yu highlights that Oil is back in focus as shipping through the Strait of Hormuz nears a standstill and ceasefire risks rise. iFlow data show energy equities flows stabilizing after June profit-taking, with …
GBP/JPY Price Forecast: Pound consolidates after hitting fresh all-time highs at 218.00
The British Pound (GBP) is pulling lower against the Japanese Yen (JPY) on Thursday, after hitting a fresh all-time high at 218.01 earlier on the day. The pair has returned to the mid-range of the 217.00s at the time of…
Andy Burnham urged to scrap income tax and NI in radical fiscal overhaul
Prominent economists including Jim O’Neill, an ally of Andy Burnham, are urging the MP for Makerfield to pursue radical tax and spending reform to “unlock the gridlock that plagues the country” when he is confirmed as p…
India: Tactical duration opportunity on rates – DBS
DBS Group Research economist Sherilyn Chew notes that renewed geopolitical risk has lifted yields across Asia, but sees Indian G-Secs as offering a tactical opportunity. She argues the India sell-off is mainly macro rep…
Federal Reserve Board issues enforcement action with TS Banking Group, Inc. and TS Contrarian Bancshares, Inc.
The Federal Reserve Board on Thursday announced the execution of the following enforcement action listed below:
Meeting of 10-11 June 2026
Ms Schnabel started her presentation by noting that, since the Governing Council's previous monetary policy meeting on 29-30 April 2026, euro area financial markets had been torn between two competing developments: the …
European Central Bank: September hike prospects stay firm – Nordea
Nordea’s Jan von Gerich argues that the European Central Bank (ECB) is likely to continue tightening policy, with the outlook heavily dependent on Middle East developments and energy prices. He notes that a July move is…
MPs urge Labour to ditch £330m Palantir software contract with NHS
A second parliamentary committee has urged Labour to scrap Palantir’s £330m contract with the NHS, increasing pressure on the next prime minister over government deals with the US tech company.
Mexican Peso: Gains seen limited against US Dollar – Commerzbank
Commerzbank’s Michael Pfister observes that markets expect substantial tightening by Banxico over the next year, but he questions whether conditions justify 75 basis points of hikes. With Mexican inflation near 3.5–4% a…
EU’s ‘unpleasant and dangerous’ border checks need overhaul, says Greek airports boss
Airports have had to use gazebos to shield passengers from sun as they wait to be processed, says Alexander Zinell
Gold firms but lacks momentum amid US-Iran tensions, hawkish Fed bets
Gold (XAU/USD) firms on Thursday as a mildly softer US Dollar (USD) and a modest pullback in US Treasury yields help the precious metal recover some ground after three consecutive days of losses.