UK: Jobless Embolden Bailey’s Cut
Another disappointing rise in the unemployment rate should embolden Bailey’s bias to cut rates in December. Falling net underemployment...
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HEW: Caution Echoes Outside the BoE
The BoE resisted cavalier calls for a rate cut this week, but it is much less cautious than we expected. A December rate cut is now likely, absent...
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BoE: Bailey Leans Over December Fence
Another 5:4 vote split broke the BoE’s run of quarterly rate cuts. Governor Bailey is revealed to be the pivotal member, with the others worried...
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Rebound To Resilience
The diverging services PMI and ISM resolved bullishly in October, with activity broadly back to 2024 averages. The ISM headline still looks lower...
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BoE: Hawkish Surprise Set For November
Markets have erroneously repriced a BoE rate cut as potentially imminent and repeated. Policymakers are tending to surprise hawkishly in the UK...
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