Rolling coverage of the latest economic and financial news
Stocks in London have opened higher, as investors cheer the dovish words from America’s central bank last night (see earlier post).
The FTSE 100 index of blue-chip companies is up 87 points, or 1.1%, at 7,824 points, its highest level since early May.
Bank of England policymakers are highly unlikely to waver from their stance and are likely to continue to stress that vigilance is still needed while they spy the prospect for rate cuts on the horizon.
With February’s inflation snapshot coming in slightly lower than expected, it’ll give the monetary policy committee a little more confidence that their action is doing the trick in bringing down demand in the economy, but a majority vote for rates to be held is still expected.
