#Monetary Policy Committee (MPC)

[touchaheartnews]

Fidelity Bank outperforms banks, stock market with 507% gain in 5 years

Investors in Fidelity Bank Plc have earned more than 507 per cent in capital gains over the past five years, ranking above all other major return benchmarks at the Nigerian stock market and the entire banking sector. Trading reports at the Nigerian stock market for the five-year period between May 31, 2019 and May 31, 2024 showed that Fidelity Bank outperformed all key indices at the stock…

[kazifatagar]

Bank Negara Holds Strong at 3% Interest Rate

Bank Negara Malaysia (BNM) has decided to maintain its Overnight Policy Rate (OPR) at 3%, with the Monetary Policy Committee (MPC) affirming that the current stance supports stable, sustainable growth. BNM emphasized it will monitor inflation and growth trends closely to adapt policies for 2025. Bank Negara Supports Growth The central bank highlighted Malaysia’s strong economic activity,…

[accapitalmarket]

Fed, BoE double cut, Sterling rebounds, UK100 mixed

UK blue chips ended lower on Thursday as investors digested a slew of corporate news, assessed a rate cut by the Bank of England (BoE), and awaited the latest policy announcement from the Federal Reserve in the wake of Donald Trump’s victory in Tuesday’s US Presidential election.

As expected, the BoE’s Monetary Policy Committee (MPC) voted by eight to one to reduce UK interest rates by 25 basis points to 4.75%. It was the second cut so far this year, after the MPC trimmed rates for the first time in over four years in August. The MPC kept rates on hold at 5.0% at its last meeting in September.

Thursday's cut was widely anticipated after a surprise drop in UK inflation in September to 1.7%, the lowest rate for more than three years and below the BoE's 2.0% target.

The latest data showed UK house prices hit record highs in October. Mortgage lender Halifax said that house prices rose by 0.2% last month following a 0.3% increase in September. Year-on-year, prices were up 3.9% in October following a 4.6% rise the month before. The average price of a UK home increased to £293,999 last month, up from £293,305 in September.

On currency markets, ahead of the US rate decision, sterling was up 0.8% against the dollar at 1.2982 and added 0.1% versus the euro at 1.2017 bolstered by the UK rate move.

GBPUSD H1

After the London close, US rate-setters also decided to ease monetary policy by 25 basis points, as expected. However, the Fed shied away from providing any further forward guidance until the new Trump administration's policies are known and could be modelled.

At the close in London, the blue-chip FTSE 100 index was down 0.3% at 8,140, although the broader FTSE 250 index managed to gain 0.9% to 20,635.

Among the blue-chip fallers, BT Group shed 3.6% as the telecoms giant downgraded its full-year revenue guidance, pointing to both its non-UK operations and a competitive retail environment as the cause.

Supermarket giant Sainsbury’s fell 4.1% after its underlying retail earnings before interest and tax in the first half came in at £503mln, below the company compiled consensus of £516mln.

Other blue-chip fallers after results included engines maker Rolls Royce, down 3.7%, insurer Hiscox, off 3.6%, and media group Auto Trader which lost 7.2%.

UK100 H1

On the upside engineer IMI was the biggest FTSE 100 gainer, up 5.4% as it hailed a resilient third-quarter performance and reaffirmed its full-year adjusted earnings per share guidance.

Miners were also higher as metal prices increased after Chinese exports rose a strong 13% year-on-year in October, more than double the 5% increase analysts had predicted. Antofagasta rose 4.8%, Anglo American gained 3.6% and Rio Tinto added 3.1%.

Disclaimer: The information contained in this market commentary is of general nature only and does not take into account your objectives, financial situation or needs. You are strongly recommended to seek independent financial advice before making any investment decisions. Trading margin forex and CFDs carries a high level of risk and may not be suitable for all investors. Investors could experience losses in excess of total deposits. You do not have ownership of the underlying assets. AC Capital Market (V) Ltd is the product issuer and distributor. Please read and consider our Product Disclosure Statement and Terms and Conditions, and fully understand the risks involved before deciding to acquire any of the financial products provided by us. The content of this market commentary is owned by AC Capital Market (V) Ltd. Any illegal reproduction of this content will result in immediate legal action.

[thefloatingpost]

"RBI MPC Meeting October 2024: Latest News on Repo Rate, Policy Announcements, and Potential Rate Cuts"

As the financial world watches closely, the Reserve Bank of India (RBI) continues to steer India’s economic policies. In October 2024, the RBI MPC (Monetary Policy Committee) meeting has garnered significant attention, especially with discussions surrounding the repo rate—a key tool in regulating inflation and liquidity in the economy. Let’s dive into the latest developments, repo rate changes,…

[financia012]

RBI Keeps Repo Rate Unchanged at 6.5%: Implications for India's Economy in 2024

Introduction The Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 6.5% for the 10th consecutive time, in its October 2024 Monetary Policy Committee (MPC) meeting. This decision, though widely anticipated, comes amidst global uncertainties, inflation concerns, and a cautious approach to India’s economic growth. In this blog, we will delve into the reasons behind this…

[vedantbhoomidigital]

Stocks To Watch Today: From RIL, Tata Tech to Patanjali Foods, keep focus on these companies

Stocks To Watch Today, October 9: Amid mixed signals from the global market, the Indian stock market may start on a positive note today i.e. on Wednesday. Investors in India are eyeing the Monetary Policy Committee (MPC) announcement to be made by Reserve Bank of India Governor Shaktikanta Das at 10 am today (…).

[bhaskarlive]

RBI likely to maintain status quo as MPC meet begins, realty sector hopeful on repo rate

The Reserve Bank of India (RBI) is likely to maintain the status quo in its Monetary Policy Committee (MPC) meeting, said industry experts on Monday, as the much-anticipated three-day meeting began, led by Governor Shaktikanta Das, amid geo-political uncertainties.

Source: bhaskarlive.in

[indiaepost]

Market Outlook: RBI MPC, Q2 results, IIP data key factors to watch next week

The market outlook for next week will depend upon RBI MPC meet, IIP data, and the Q2 earnings season will kick off with key companies like TCS, IREDA Tata Elxsi and DMart among others which will drive stock-specific movements. The broader market’s focus will be on the RBI’s Monetary Policy Committee (MPC), which is scheduled to meet from October 7 to 9, with the outcome to be announced on…

[scoopgh]

BoG introduces gold coins as a fresh way to invest.

Within the following two weeks, the gold coin—an initiative under its gold purchasing program—will be put on the market. Dr. Ernest Addison, the governor of the Bank of Ghana, told the media during a press conference on Friday, September 27, 2024, at the Monetary Policy Committee (MPC) news conference that prospective investors may buy gold coins in three different ounces at any commercial bank…

[scarletnews]

CBN Increases Interest Rate To 27.25%

The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has raised the Monetary Policy Rate (MPR), from 26.75 percent to 27.25 percent. CBN’s Governor, Olayemi Cardoso, announced the 50 basis points increase at a press conference on Tuesday after the Committee’s 297th meeting in Abuja. The MPR increase which benchmarks interest rates, Cardoso said, was to further tame inflation. On…

[vagnocarvalho]

LIBRAS ESTERLINAS 🇬🇧

Bank of England (MPC: 8-1)

Rate maintained - September 2024

[riversfunding]

Signs of business confidence

In August, the Bank of England (BoE) lowered interest rates to 5% in the first cut since March 2020, an action which followed a fall in inflation to the 2% target set by The Monetary Policy Committee (MPC). In addition, the UK's economy grew by 0.6% between April and June, making it the second-best performer in the G7.

Read more - https://www.riversfunding.com/news/how-small-business-loans-could-help-businesses-capitalise-on-market-confidence/

[accapitalmarket]

BoE hints gradual easing, GBPUSD drops, UK100 lower

UK stocks closed lower on Wednesday, retreating after some hawkish comments from a Bank of England (BoE) policymaker and as energy heavyweights dropped in tandem with weaker oil prices.

BoE Monetary Policy Committee (MPC) member Megan Greene said she believed the risks to activity are to "the upside", and that she favoured a "gradual approach to removing restrictiveness." Greene was one of the MPC members who voted to hold rates in August. The BoE ultimately cut rates by 25 basis points to 5.00% in a 5 to 4 decision then but held them at that level this month by an 8-1 majority.

Meanwhile, the Organisation for Economic Co-operation & Development has placed the UK joint second in its economic growth forecasts for the rest of 2024. The prediction of 1.1% growth for the whole of this year puts the UK alongside Canada and France but behind the US. However, its prediction of 2.7% inflation for this year means the UK is still the country in the G7 with the fastest-rising prices.

GBPUSD H1

On currency markets, the pound was weaker, losing 0.63% versus the US dollar to 1.3328, and down 0.24% against the euro at 1.1967.

At the stock market close in London, the FTSE 100 index was down 0.2% at 8,268, while the FTSE 250 ended 0.1% lower at 20,755.

Among the oil heavyweights, BP shed 2.4% and Shell lost 1.6%. Brent crude has fallen 9.3% over the past month and is down 19% in the year to date.

But elsewhere with commodities, the recent strength in the gold price continued to support Fresnillo, up 3.4%. And copper miner Rio Tinto added 0.6% helped by some positive comments as analysts visited some of the miner's Canadian operations.

Meanwhile, positive comments from analysts at JPMorgan on the airline sector boosted British Airways owner International Consolidated Airlines, up 0.8%, and easyJet, ahead 2.2%.

UK100 H1

Beazley was also hoisted higher by broker comment, up 1.0% as analysts at Deutsche Bank raised their price target and reiterated a buy rating on the insurer.

Among other blue-chip gainers, Rentokil added 4.5% after activist investor Brian Baldwin secured a seat on the board. Baldwin is the head of research of Trian Fund Management, an investment management firm, run by Nelson Peltz.

Paddy Power owner Flutter Entertainment gained 6.9% after it announced a £5bn share buyback and said it is targeting doubling annual profit by 2027. And DFS Furniture rose 6.6% as the retailer said it sees increasing reasons to be optimistic even after reporting two years of revenue declines.

Disclaimer:

The information contained in this market commentary is of general nature only and does not take into account your objectives, financial situation or needs. You are strongly recommended to seek independent financial advice before making any investment decisions.

Trading margin forex and CFDs carries a high level of risk and may not be suitable for all investors. Investors could experience losses in excess of total deposits. You do not have ownership of the underlying assets. AC Capital Market (V) Ltd is the product issuer and distributor. Please read and consider our Product Disclosure Statement and Terms and Conditions, and fully understand the risks involved before deciding to acquire any of the financial products provided by us.

The content of this market commentary is owned by AC Capital Market (V) Ltd. Any illegal reproduction of this content will result in immediate legal action.

[thefloatingpost]

RBI Monetary Policy: Key Highlights from the October 2024 MPC Meeting

The RBI Monetary Policy for October 2024 is highly anticipated as markets and economists closely monitor the central bank’s decisions on interest rates, liquidity, and inflation management. In the backdrop of global economic uncertainties and fluctuating inflation, the RBI’s Monetary Policy Committee (MPC) plays a crucial role in steering India’s economy. The latest meeting of the RBI MPC brings…

[destkelamedia]

CBN Reopens Borrowing Window, Sets New Lending Rate at 31.75%

Nigeria’s Central Bank Lifts Suspension on Bank Borrowing Amid New Measures to Control Liquidity In a significant policy shift, the Central Bank of Nigeria (CBN) has lifted the suspension on bank borrowings from its Standing Lending Facility (SLF), setting a new lending rate at 31.75 percent. This decision follows the 296th meeting of the Monetary Policy Committee (MPC) and marks a pivotal move…

[blogmushroomincus]

Bank of Uganda MPC Decision: Inflation Trends & Economic Outlook

On August 7, 2024, the Bank of Uganda’s Monetary Policy Committee (MPC) announced a significant adjustment in the country’s monetary policy, reducing the Central Bank Rate (CBR) by 25 basis points to 10.0%. This decision comes against a backdrop of moderating inflation and a recovering economy, reflecting the complex interplay of domestic and global economic factors. Inflation Trends and…