Weekly Market Commentary - 26 February 2024

Chair of the US Federal Reserve, Jerome Powell, had suggested that The Fed will announce three quarter-point interest rate cuts this year. In the UK, Bank of England governor Andrew Bailey has not offered specific guidance, which might be for good reason. The ONS’ Labour Force Survey (LFS) provides the BoE with key stats such as the rate of unemployment, which can influence interest rate decisions. This week it has been deemed “dodgy” due to a significant decline in the response rate.

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