US rate cut hopes lift pound over $1.27, ahead of Bank of England decision - business live
Rolling coverage of the latest economic and financial news, as the dollar falls after US Federal Reserve hints that borrowing costs will fall soonIntroduction: Fed hints that rates will fall soonMarkets think July rate cut is nailed-onComing up: Bank of England decision at noon
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
“We’d like to see if these risks continue to weigh on the outlook.
We want to see and we want to react to trends that are sustained, that are genuine.”
Cut Probabilities 100% after the FOMC statement.
July is 76% for a 25 bps cut, 24% for a 50 bps cut.
If they don't cut 50 in July, the "second" 25 cut in Sept to 1.875% is 87% (67.1% + 19.9%)
Cannot find an example of 100% probability and the Fed failed to deliver. pic.twitter.com/37mSu9ta1C