Bullet points of European markets close higher after Bank of England holds rates, Fed cuts
Bullet points of European markets close higher after Bank of England holds rates, Fed cuts
- The Bank of England held its key rate steady at 5% in a widely anticipated move.
- The US Federal Reserve cut its target range to 4.75% to 5.00%.
- The pan-European Stoxx 600 index provisionally ended the session 1.36% higher.
- Mining stocks added 3.16% and retail stocks climbed 1.9%.
- The Bank of England said a 'gradual approach' to monetary easing remained appropriate, with services inflation remaining 'elevated'.
- Two more rate cuts are expected by financial markets, and with time running out in 2024, the next meeting is likely to see the BoE's next cut delivered.
- The Bank of England held its key rate steady at 5% in a widely anticipated move.
- The US Federal Reserve cut its target range to 4.75% to 5.00%.
- The pan-European Stoxx 600 index provisionally ended the session 1.36% higher.
- Mining stocks added 3.16% and retail stocks climbed 1.9%.
- The Bank of England said a 'gradual approach' to monetary easing remained appropriate, with services inflation remaining 'elevated'.
- Two more rate cuts are expected by financial markets, and with time running out in 2024, the next meeting is likely to see the BoE's next cut delivered.