Board games halma7/28/2023 The BMA has urged Prime Minister Rishi Sunak to get involved in talks, but it was made clear he is not going to intervene. The dispute remains deadlocked, with no talks planned amid a standoff between the BMA and government. The action is expected to lead to tens of thousands more appointments and procedures being delayed. Members of the British Medical Association will mount picket lines outside hospitals across the country for the second of a three-day walkout in a long-running row over pay. The bank also announced a surprise cut in a short-term interest rate this week, which analysts said reflected growing concern about the state of the economy among Chinese policymakers.Ī strike by junior doctors in England will continue on Thursday as new figures showed that more than half a million appointments and procedures have been postponed due to industrial action since December. The PBOC also said it was offering USD33 billion of funds to banks through the medium-term lending facility, "to maintain reasonable and sufficient liquidity in the banking system". The medium-term lending facility rate - the interest for one-year loans to financial institutions - was lowered 10 basis points to 2.65%, the People's Bank of China said in a statement. Retail sales, the main indicator of household consumption, rose by 12.7% on-year compared with 18.4% a month earlier.Īmid the weak economic readings, China's central bank cut a key interest rate and injected USD33 billion into financial market. Meanwhile, industrial production rose 3.5% in May, down from 5.6% a month earlier, as factories gradually returned to full capacity. Overall urban unemployment remained at 5.2%, the NBS said in a statement. The unemployment rate for Chinese between the ages of 16 and 24 rose to 20.8%, up from what was already a record 20.4% in April, the National Bureau of Statistics said. UK BoE Deputy Governor Jon Cunliffe speaks at Politico Global Tech summitĠ8:30 EDT US import and export price indexĠ8:30 EDT US Philadelphia Fed business outlook surveyĠ8:30 EDT US unemployment insurance weekly claims reportġ6:30 EDT US foreign central bank holdingsġ6:30 EDT US federal discount window borrowingsĬhina reported a series of weak economic indicators, with youth unemployment hitting a record high for the second consecutive month as the economy's post-Covid growth spurt fades. Thursday's key economic events still to come: (changes since previous London equities close) Nasdaq Composite: closed up 0.4% at 13,626.48 Here is what you need to know at the London market open:įTSE 100: called down 17.34 points, or 0.2%, at 7,585.40 Online fashion retailer Asos said it had "restored profitability". In early UK corporate news, distribution services firm Halma boasted a record annual revenue figure but lower profit. In contrast to the US central bank, another 25 basis point hike by the ECB is see as a done deal by markets. A press conference with President Christine Lagarde will follow half an hour later. The ECB will announce its interest rate decision on Thursday at 1315 BST. With the Fed decision made, the European Central Bank is up next. In the wake of the announcement, Wall Street ended mixed, but the dollar was stronger. Speaking to reporters after the decision, Fed Chair Jerome Powell said nearly all committee participants view some further hikes this year as "appropriate".Ĭhris Beauchamp, chief market analyst at IG, said "any lingering hope" of a rate cut this year from the Fed now seems to have gone following this meeting. The US central bank left the federal funds rate range unchanged at a range of 5.00% to 5.25%. (Alliance News) - Stocks in London were set to open lower on Thursday, after the US Federal Reserve paused its interest rate hikes but indicated that more will follow this year.
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