Wages in Britain, excluding bonuses, in the three months to October are expected to slow to a 7.4% rise, analysts estimate, compared with a 7.7% rise in September. The data will likely keep the central bank on guard for inflationary pressures.
While the BOE is expected to keep rates steady on Thursday, the focus is on when and how fast it will cut rates. Traders expect the British central bank to cut rates at a slower pace than the Fed.
Investors have slightly dialled back their expectations of the Fed cutting rates early next year. Markets are now pricing in a 45% chance of a rate cut in March compared with 57% a week earlier, according to CME FedWatch tool.
And that brings us to 2023’s final central bank bonanza, with investors bracing for policy decisions from the European Central Bank, Norges Bank and the Swiss National Bank apart from the BOE and the Fed.
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