FTSE 100 Drifts Lower Ahead Of BoE Rate Decision
(RTTNews) - U.K. stocks fell sharply on Thursday after the U.S. Federal Reserve cut rates as expected and penciled in two more for 2025, fewer than four seen in September.
Investors also braced for the Bank of England's last meeting of the year later in the day.
The central bank is widely expected to hold rates at 4.75 percent after data showed a high rate of wage growth and inflation above the bank's 2 percent target.
The benchmark FTSE 100 was down 90 points, or 1.10 percent, at 8,109 after finishing marginally higher the previous day.
In corporate news, Serco Group shares jumped nearly 7 percent. The outsourcing giant Serco forecast full-year revenue of £4.8bn in line with its prior guidance.
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Philippines Cuts Policy Rate To 5.75%
The Philippine central bank decided to reduce its benchmark rate by 25 basis points on Thursday as inflation is projected to remain within the target range and, hinted at further policy easing next year. The Monetary Board of the Bangko Sentral ng Pilipinas lowered the target reverse repurchase rate to 5.75 percent from 6.00 percent.
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6h 25min ago
Sensex, Nifty Extend Losses For Fourth Day On Hawkish Fed Commentary
Indian shares fell sharply on Thursday to extend losses for a fourth day running as hawkish Fed commentary spooked markets.
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6h 28min ago
Pound Rises As Traders' Await BoE Rate Decision
The British pound strengthened against other major currencies in the European session on Thursday, as investors braced for the Bank of England's last meeting of the year later in the day.
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7h 10min ago
European Shares Decline On Fed Policy Uncertainty; BoE Decision Eyed
European stocks were moving lower on Thursday after the U.S. Federal Reserve cut rates as expected and penciled in two more for 2025, fewer than four seen in September.
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7h 14min ago
Pound Rises Against Majors
The British pound strengthened against other major currencies in the European session on Thursday.
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7h 36min ago
CAC 40 Slides After Hawkish Shift At Fed; Banks Hit Hard
French stocks fell notably on Thursday after the U.S. Federal Reserve cut interest rates, as expected, but warned that rate cuts may not come so easily in 2025 as anticipated earlier.
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7h 51min ago
German GfK Consumer Sentiment To Rise In January
German consumer confidence recovered marginally towards the end of the year and it is forecast to rise again in January, survey data jointly published by the market research group GfK and the Nuremberg Institute for Market Decisions showed on Thursday. The forward-looking consumer sentiment index posted -21.3 in January, up from -23.1 in December. The score was expected to rise to -22.6.
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8h 2min ago
DAX Drifts Lower As Fed Flags Slower Rate Cuts
German stocks drifted lower on Thursday after the Federal Reserve signalled a slower pace of interest rate cuts next year, citing inflation risks.
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8h 2min ago
