The Bank of England could cut interest rates in the next few months, depending on how rapidly the knock-on impact on wage growth and prices from 2022’s surge in inflation eases, Deputy Governor Ben Broadbent said on Monday.
The dollar was broadly steady on Monday as investors awaited further clues to help chart the path of U.S. interest rates in the wake of cautious comments from Federal Reserve officials, even as inflation showed signs of cooling.
Oil prices slipped lower Monday, handing back early gains after the confirmation of the death of Iran’s President in a helicopter crash. At 08:30 ET (12:30 GMT), Brent oil futures fell 0.5% to $83.53 a barrel, while West Texas Intermediate crude futures dropped 0.6% to $79.10 a barrel.
Bitcoin price moved little on Monday after rebounding over the weekend, although the token still remained rangebound amid persistent caution over the outlook for U.S. interest rates.
JPMorgan (JPM) shares are rising premarket Monday, currently up 0.8%, after the company reportedly increased its 2024 net interest income (NII) forecast to $91 billion, excluding the markets division.
