The Bank of England held its key interest rate steady at 4.50% in an 8-1 vote, with one policymaker backing a cut—catching some investors off guard who had expected a more dovish signal. Despite the decision, analysts at Commerzbank continue to forecast a rate cut in May, which could add further pressure to the pound, already weaker against both the dollar and the euro this morning.
Asian markets were mixed on Friday as Wall Street losses and lingering investor concerns over political uncertainty in the US, stemming from President Donald Trump, weighed on sentiment.
Chinese stocks declined for a second consecutive session. Hong Kong’s Hang Seng Index slumped 1.9% to 23,772.39 after China opted to keep its key lending rates unchanged. Technology shares were among the hardest hit as traders locked in recent gains. The Shanghai Composite Index also slipped, down 1.2% to 3,369.42.
In Japan, the Nikkei 225 edged down 0.2% to 37,677.06 as trading resumed following Thursday’s holiday. The country’s core inflation came in slightly above expectations, lifted in part by a sharp rise in rice prices due to supply shortages.
Elsewhere in the region, South Korea’s Kospi added 0.2% to close at 2,643.13, while Australia’s S&P/ASX 200 also advanced 0.2% to finish at 7,931.20. In Southeast Asia, Bangkok’s SET edged up 0.1%, whereas Taiwan’s Taiex slipped 0.8%.
On Wall Street, the Dow Jones Industrial Average was little changed, ending at 41,953.32. The S&P 500 dipped 0.2% to 5,662.89, and the tech-heavy Nasdaq Composite lost 0.3%, settling at 17,691.63.
In fixed income markets, the yield on the benchmark 10-year US Treasury note eased to 4.237%, down from 4.256% the previous day.
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