UK Core Inflation YoY (Aug) was expected to drop by 0.1% to 6.8% but released cooler than expected at 6.2%. This eases some of the pressure for the BOE on Thursday ahead of its interest rate decision, with a 25 basis points hike on the agenda.
The ECB surprised markets last week by raising interest rates by 25bps to record highs instead of keeping them on hold as initially expected- the bank now will pause on rate hikes for now and keep an eye on data- it seems the ECB believes that growth will be slow in the Eurozone but inflation could still creep up into next year.
The pound rose against the dollar today as the greenback slipped and as traders looked ahead to the Bank of England's interest rate decision next week.
Pound Sterling continued it’s downward trend against The USD, struggling to get back to the 1.25 levels, after poorer than expected economic growth figures in The UK.
Investing is a great mechanism for building wealth and achieving savings goals, whether it’s to buy a new car, put a deposit down on a house, or retire with a comfortable pot of money.
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Sterling slipped this morning and is on track for its biggest daily drop in a week as UK economy contracted by 0.5% in July, a worse than expected 0.2% contraction in gross domestic product.
Monero is a privacy-focused cryptocurrency, and it's gaining ground.
This means that you can expect more people to want to purchase the coin and participate in its market.
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