Market insights

Pound Rates Hold Steady - MI090724

The election looks to be fully priced in now and the Pound has held steady throughout.

As more is revealed by Labour about it's short term plans, the immediate response for Sterling rates has been generally positive.

The latest news to hit the markets is the Labour pledge to build 1.5 million new homes in the next 5 years indicating a Government focused on growth.

Outside of that the news is a real global affair in the next 24 hours.

Highlights are the FED Chair, Jerome Powell, testifying in front of congress, Chinese inflation and the New Zealand interest rate decision.

Chinese inflation is expected to report annualised growth of 0.4%, and the Reserve Bank of New Zealand is expected to keep rates at 5.5%.

Business news looks at the state of retail sales in the UK with a reported annual contraction of -0.5% last night.

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Economic calendar

UK: 15:00 FEDs Jerome Powell Testifies

CHN: Wednesday 02:30 Inflation Report

NZ: Wednesday 03:00 RBNZ Interest Rate Decision

As ever we look forward to keeping you in the loop and look out for our next update.

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