Money News Overview Thursday 1st August: Interest rate announcements will be the talking point today

Last night the USA released their latest Monetary Policy Statement, as expected the interest rate has stayed the same, markets are growing increasingly confident that a rate cut in September could be on the cards.

Last night the USA released their latest Monetary Policy Statement, as expected the interest rate has stayed the same, markets are growing increasingly confident that a rate cut in September could be on the cards.

Stealing the show today is the Bank of England, they will announce their latest interest rate decision with forecasts showing no cuts this month.

Focus will then shift to the meeting minutes, investors will be keen to listen in to the Bank of England’s stance on a September rate cut.

Later this afternoon sees the US release Employment figures and Purchase Manager Index, with the latter expected to come in at 48.8, an increase in last months figure but still below the 50 growth mark.

The pound has taken a hit this morning following the release of last nights Fed interest rate decision, as of this morning the pound is down 60 points.

The same can be said for the pound/euro pairing, with the pound falling 40 points.

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