EUR/USD
1.17149
-0.215%
Gold
4321.90
-0.377%
Oil
55.924
-1.363%
USD/JPY
155.844
0.100%
GBP/USD
1.33856
0.084%
GBP/JPY
208.611
0.191%
Real-time News
On December 18th, UBS Global Wealth Management economist Dean Turner noted in a report that while the Bank of Englands decision to cut its key interest rate to 3.75% largely met market expectations, the cut was hawkish and passed by a narrow margin of 5-4. He stated that disagreements remain among policymakers, which is not surprising given evidence of sticky inflation in the coming months. This means the Bank of England may need some time to achieve its 2% inflation target. "We expect the Bank of England to cut rates again at its next meeting in February, when they will have a new set of forecast data that may support their continued caution regarding the magnitude and pace of rate cuts," Turner said. However, beyond that, UBS expects the Bank of England to cut rates only once more in 2026.On December 18th, Peel Hunt, chief economist at Kallum Pickering, stated: “My intuition was that the Bank of England’s monetary policy statement was slightly dovish, but the vote was not. The market reacted slightly hawkishly, with the pound rising slightly and yields climbing sharply. I think some people in the market, including myself, had hoped for a 6-3 vote (six votes for a rate cut and three for keeping rates unchanged), hoping that one of the hawkish members would abandon their stance of keeping rates unchanged and instead support a rate cut. To me, the key point is that inflation is falling faster than the Bank of England expected, which strongly suggests that the benchmark rate may be lowered more quickly, meaning that the door is open for consecutive rate cuts.”On December 18th, Hozon New Energy, the parent company of Nezha Auto, issued a public announcement on December 2nd seeking a management trustee. The requirements for the entrusted management include restoring the sales network, taking full responsibility for the management of the entire vehicle sales channel, revitalizing the existing dealer network, and opening up new sales channels; organizing and carrying out various tasks related to the restart and operation of after-sales service, etc. On December 18th, the administrator of its parent company, Hozon New Energy, released the "Announcement of Hozon New Energy Automobile Co., Ltd. Regarding the Results of the Public Recruitment of Management Trustee," announcing that one interested institution has become the management trustee.Polish Prime Minister: Polands independence will be threatened if Ukraine is forced to surrender.December 18th - According to an analysis by IFR, a Reuters subsidiary, the Bank of England cut interest rates by 25 basis points as expected, a move already fully priced in by the market. The vote was 5-4, in line with market expectations but still surprising, as recent data (especially inflation data) had anticipated a more significant shift in the Bank of Englands hawkish stance. The fact that Bank of England officials did not adjust their position is itself somewhat hawkish and raises questions about the timing of the next rate cut. The market is divided on whether a rate cut will occur in March or April next year, with the probability of a cut in either month slightly below 50%. The Bank of Englands statement also confirms this, noting that "it will be more difficult to judge whether there will be further easing of monetary policy in the future."
