tl;dr
The Bank of England (BoE) is facing a rate cut dilemma amid macro factors, with proponents for a cut stressing the importance of acting now. The decision is expected today, with economists predicting a tight 5:4 split in the votes. Governor Andrew Bailey has hinted at a policy direction, but there i...
The Bank of England (BoE) is facing a rate cut dilemma amid macro factors, with proponents for a cut stressing the importance of acting now. The decision is expected today, with economists predicting a tight 5:4 split in the votes. Governor Andrew Bailey has hinted at a policy direction, but there is skepticism about the timing. If rates are slashed, homeowners anticipate lower mortgage payments, while savers will benefit from the status quo. Commentators suggest that interest rate cuts could drive investment in the crypto market, particularly as higher interest rates may lead investors to move funds out of risky assets.
The United States Federal Reserve has left interest rates unchanged as they monitor inflation movements.
The Bank of England is in the middle of a rate cut dilemma sprung by macro factors. Proponents for a cut await the first move in four years while stressing that if the BoE doesn’t act now, a September date will be more difficult. With inflation down to 2%, several market participants expect the decision today. However, a major clog in the wheel is the services inflation data which came in at 5.7%. This was hotter than expected coupled with rebounding growth in recent months.
According to Bloomberg, economists reckon a tight 5:4 split votes today as participants brace for the next policy direction. The Monetary Policy Committee members seem divided in views with hawkish Catherine Mann likely to be against a rate cut while Swati Dhingra might back the move.
Andrew Bailey, Governor of the Bank of England has previously hinted at a policy direction on the way to rate cuts but skepticism trails whether it would come in August or delayed till September. If rates are slashed, homeowners point to lower mortgage payments as well as rent. On the flip side, savers are getting more with the status quo.
Bitcoin commentators look towards interest rate cuts to drive investment in the market. Higher interest rates will see investors move funds out of risky assets to reposition their portfolios. As the crypto market decides slight losses, stakeholders tip lowered interest rates to usher in the next market drive. This is coupled with the approval and inflow recorded by crypto ETFs. The United States Federal Reserve left interest rates unchanged as the Feds wait for more movements to 2% inflation.
More about United States Steel Corporation
United States Steel Corporation produces and sells tubular and flat rolled steel products primarily in North America and Europe. The company is headquartered in Pittsburgh, Pennsylvania.
Industry: Manufacturing, Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Market Cap: 9.15B
Current Price: $11.76
Price Change: $0.20
Change Percent: 3.46%
PE Ratio: 79.23
EPS: $0.0489
Revenue: 17.74B
EPS Estimate Current Year: $45.11
EPS Estimate Next Year: -$0.129
EPS Estimate Next Quarter: -$0.069
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