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On September 19, 2024, the Bank of England decided to maintain its base interest rate at 5%, following a previous cut from 5.25%. Policymakers are cautious about inflation, particularly in the services sector, which remains elevated. Analysts anticipate potential rate cuts in November, contingent on upcoming economic data.
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Mario Draghi's recent report urges the EU to invest €800 billion annually to address stagnation and enhance competitiveness against the US and China. Highlighting Europe's innovation gap, Draghi emphasizes the need for a unified approach to economic and defense strategies amid rising global tensions.
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On September 19, 2024, global markets surged following the Federal Reserve's unexpected 0.5 percentage point interest rate cut. The FTSE 100 rose 0.91%, buoyed by mining stocks, while the S&P 500 also climbed, reflecting investor optimism about economic recovery. The Bank of England maintained its rates at 5%, contributing to a stronger pound.