Market insights

The UK And US Cut Interest Rates

Both the Bank of England and the FED cut their base rates by 25 points to 4.75%.

This was expected by analysts.

What was slightly unexpected was that 8 members of the monetary policy committee in the UK voted for the cut.

Economists had expected the vote count to be 7 to 2.

That difference in vote count could have supported Pound rates yesterday afternoon.

Today is a quieter day for news with the Canadian unemployment rate being announced before Chinese inflation in the early hours of tomorrow.

Business news continues on with the US election, and President Elect, Donald Trump, starting to choose his team.

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Economic calendar

CAN: 13:30 Unemployment Rate

CHN: Saturday 01:30 Inflation Report

As ever we look forward to keeping you in the loop and look out for our next update.

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