U.S. businesses paid higher prices for a range of goods and services in June, the latest sign that a rebound in oil prices and a tightening labor market are pushing up inflation.
The Bank of England’s monetary policy committee (MPC) voted 8-1 to keep interest rates unchanged at their record low of 0.5%. Its newest member, Gertjan Vlieghe, backed an immediate quarter point cut but the rest preferred to wait until August, when the Bank is due to release its latest growth and inflation forecasts. This is what economists made of the decision.
Sterling surged and world shares stopped in their tracks having hit an eight-month high on Thursday, as the Bank of England unexpectedly opted to keep its post-Brexit powder dry for at least few more weeks.
Next Trading Day's Important Events
- USDJPY: 105.76
- EURUSD: 1.1111
- S&P 500: 2,164.10
- NASDAQ : 5,029.96