Boeing Financial News

Bank of England halted its long run of 14 straight interest rate hikes on Thursday as the British economy slowed, but it said it was not taking a recent fall in inflation for granted. A day after a surprise slowing in Britain's fast pace of price growth, the BoE's Monetary Policy Committee voted by a narrow margin of 5-4 to keep Bank Rate at 5.25%. Four members — Jon Cunliffe, Megan Greene, Jonathan Haskel and Catherine Mann — voted to raise rates to 5.5%. It was the first time since December 2021 that the BoE did not increase borrowing costs. «There are increasing signs of some impact of tighter monetary policy on the labour market and on momentum in the real economy more generally,» the MPC said in a statement. It cut its forecast for economic growth in the July-September period to just 0.1% from August's forecast of 0.4% and noted clear signs of weakness in the housing market. Growth for the rest of the year was likely to be weaker than previous forecasts, the BoE said. Record growth in workers' pay, which has been a big concern for the central bank, was not backed up by other measures of the labour market, it noted, suggesting the BoE's policymakers expected it to slow down soon. «CPI inflation is expected to fall significantly further in the near term, reflecting lower annual energy inflation, despite the renewed upward pressure from oil prices,» the BoE said. But it said services inflation was expected to remain elevated. The BoE's decision to pause its rate hikes came a day after the U.S. Federal Reserve also opted to keep borrowing costs on hold.

Investing.com — U.S. stocks seen lower, while the dollar soars and U.S. bond yields head higher after the Federal Reserve suggested interest rates will stay higher for longer in the wake of its latest policy decision. The Bank of England faces a tricky rate decision, while the Swiss National Bank halted its rate-hiking cycle.

(Reuters) — European shares fell on Thursday, tracking overnight losses on Wall Street after the U.S. Federal Reserve signalled higher-for-longer interest rates and ahead of rate decisions from the Swiss National Bank, Riksbank, Norges Bank and Bank of England.

By William Schomberg

A look at the day ahead in European and global markets from Kevin Buckland

By Brigid Riley

₹21.6 crore compensation, including ₹14.28 crore for damages to the airline’s reputation due to flight cancellations, rescheduling and grounding, ₹6.96 crore for loss of operational profits, and ₹36 lakh related to the pilots’ training agreement. Separately, the airline has also approached the civil aviation regulator, Directorate General of Civil Aviation.

aviation ministry, a person aware of the matter said. “According to the DGCA, Akasa Air is eligible to apply for international scheduled air transport services," the ministry informed the airline. “However, it is also informed that based on traffic rights to be allocated to Akasa Air, scrutiny of country-specific preparedness will be carried out by the DGCA before permitting Akasa Air to operate international operations." Since 2019, Indian airlines have shown strong interest in expanding their presence in the international market due to the potential for higher yields.

Inflation in Britain fell unexpectedly in August to its lowest level since the start of Russia’s invasion of Ukraine, which led to sharp rises in energy and food costs

Investing.com — The U.S. dollar traded in a steady fashion in Europe Wednesday ahead of the conclusion of the latest Federal Reserve policy meeting, while sterling weakened after a surprise drop in the headline U.K. inflation rate.

Bank of England later this week, which is expected to yield a final rate rise in the current cycle. Sterling was last unchanged on the day against the dollar at $1.2382, just above Monday's session trough of $1.2371, its weakest since early June, and flat against the euro at 86.36 pence. The BoE meets on Thursday and money markets show traders widely expect to see one final quarter-point hike to 5.50%, but no realistic prospect of a rate cut until next summer.Inflation has fallen to 6.8% from a 41-year peak of 11.1% last October, but it is still the highest among major economies and progress in bringing it down has been far slower. Consumer inflation in the United States has fallen to 3.7% from last June's 9.1% rate, while in the euro zone, inflation is running at 5.3%, almost half last October's 10.7% reading. UK growth, meanwhile, is slowing more than most economists expected, after strikes in hospitals and schools and unusually wet weather weighed on output in July. Against that backdrop, a Reuters poll of economists last week showed a significant minority believe the BoE has room to raise rates at least once more this year after September. However, expectations for the BoE have softened in the past few weeks. Back in June, money markets showed traders believed UK rates could hit 6% by the middle of 2024, as the central bank was forced to keep tightening monetary policy to tackle inflation. «With the BoE market pricing now more reasonable, and sterling positioning still long, we think it will be harder for GBP to stage fresh rallies in the near term.

By William Schomberg and Andy Bruce

Investing.com — Sit and wait: That’s what the gold trading community seems to have decided ahead of Wednesday’s monetary policy update from the Federal Reserve and other central bank rate decisions due this week.

UK inflation is making the Bank of England's already difficult decision on when to pause rate hikes even harder. UK inflation data due out Wednesday will likely show that price gains notched higher to 7% last month from 6.8% in July, according to the median of more than 30 estimates in a Bloomberg survey. It would mark the first acceleration since February, with economists attributing the move to fuel price fluctuations. While some downturn in inflation had been anticipated by the BOE, it would make for a complicated backdrop when policymakers meet the next day to decide whether to raise rates for what could be the last time of the cycle.

By Huw Jones

Hindustan TImes. Canada is home to an influential Sikh community and Indian leaders say there are some fringe groups there that are still sympathetic to the cause of an independent Sikh state, carved out of India. The Sikh insurgency of the 1980s and 1990s killed some 30,000 people. Sikh militants were blamed for the 1985 bombing of an Air India Boeing 747 flying from Canada to India in which all 329 people on board were killed.

Canada and India has encountered a series of challenges that have raised concerns on both sides. In geopolitics and diplomacy, the K term has long been linked with Kashmir for India, but now another K — Khalistan — has arisen as very problematic, severing ties between India and Canada. A series of disturbing incidents have put a strain on what was once considered a relatively stable diplomatic relationship between the two nations, with a bilateral commercial relationship valued at a substantial $100 billion. Canadian Prime Minister Justin Trudeau accused the Indian government of participation in the killing of pro-Khalistan activist Hardeep Singh Nijjar in a statement vehemently condemned by New Delhi.

Investing.com – The pound extended its gloomy slide against the dollar continued Monday, just days ahead of a widely expected Bank of England rate increase amid fears that a hike will come with side order of dovishness as the central bank is likely to signal that its rate-hike cycle is coming to an end.

interest rates to ward off the risk of causing "stagflation," the prominent economist Nouriel Roubini warned. The famously pessimistic Roubini said the recent rise in oil prices will keep headline inflation high and that any talk of easier monetary policy would be premature. The ECB and BOE face a bigger dilemma than the US Federal Reserve because prices are still rising fast and growth is slowing, he said. The BOE «should be hiking rates all the way to 5.75%,» Roubini said Monday in an interview on Bloomberg Television.

Investing.com — Oil bulls pressed ahead Monday with the momentum they had gained in the past three weeks, closing in on the Saudi wish for triple-digit pricing, as markets awaited the Federal Reserve’s verdict on U.S. inflation creeping again from high energy costs.

The GBP/USD is in focus ahead of this week’s key events: FOMC and BoE rate decisions. We also have UK CPI and retail sales, as well as global PMI figures to look forward to this week. The BoE could deliver a final 25 bps hike, while the FOMC is seen holding policy unchanged. I think the cable could be heading towards the low 1.20s.