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| Intra-day Market Moving News |
| 18 Jun 2026 |
11:01 |
Continues from previous update...
"Whatever happens in the future, the higher energy prices of the past four months means there's already some inflationary pressure in the pipeline," Bailey said in a statement alongside Thursday's decision.
The BoE expects inflation to rise above 3.25% in the final quarter of this year, up from 2.8% in May, though this is a smaller increase than the rise to 3.6%-3.7% which it projected in April under two of its three main scenarios.
The central bank was also marginally more upbeat on growth, estimating the economy is expanding at an underlying rate of 0.2% a quarter, up from 0.1% in its last set of forecasts despite a small fall in output in April.
Both Pill and Greene said a rate rise now was needed to rein in households' expectations for future inflation, which are their highest since at least 2009 in a quarterly BoE survey, though are coming down on a more frequent monthly survey.
Inflation has exceeded the BoE's 2% target for most of the past five years due to a series of upward shocks since the COVID-19 pandemic, most notably Russia's 2022 invasion of Ukraine that lifted British inflation above 11%.
"A proactive hike now in Bank Rate should help anchor inflation expectations," Greene said.
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| 18 Jun 2026 |
11:00 |
GBP/USD - 1.3227... LSEG reported the Bank of England kept interest rates on hold at 3.75% in June, as it has since the start of the U.S.-Iran war, judging it would be premature to raise rates now given the unclear strength of increased inflation pressures.
The central bank's Monetary Policy Committee voted 7-2 to keep rates on hold, in line with economists' expectations in a Reuters poll, after external member Megan Greene joined Chief Economist Huw Pill in calling for a quarter-point rate rise.
But most other MPC members appeared little closer to raising rates, broadly sticking with what Governor Andrew Bailey has called an "active hold" which he views as an effective tightening compared with market expectations of cuts before the conflict.
The BoE's approach contrasts with those of the European Central Bank and Bank of Japan - which have both raised rates in the past week - and projections from the U.S. Federal Reserve after its first meeting under its new chair, Kevin Warsh, which showed policymakers expected rates to rise later this year.
In the run-up to the BoE's June meeting, a tentative truce between the United State and Iran promises to reopen the Strait of Hormuz and lower oil prices, a boon for Britain if the deal sticks as it relies heavily on imported natural gas.
However, the BoE said it was too soon to declare the inflation threat over.
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| 17 Jun 2026 |
18:43 |
USD/MAJORS... LSEG news, Fed's Chairman Warsh continues to say :
- Fed has commitment, capability to deliver 2% inflation
- that's exactly what we will do
- inflation is primarily determined by monetary policy
- we've dropped forward guidance
- can't give any forward guidance about what will do next
- Fed policy appears to be restrictive vis a vis housing market, but not financial markets
- we've got a task for that, when asked about future of dot plot
- noted that dot plot submissions came in with pencils, that have big erasers
- policymakers don't feel bound by their dots
- did not hear tons of conviction on projective submissions
- expect by year end there will be a broad review of communications - press conferences, dots, meetings
- pretty open minded
- commitment to deliver 2% inflation is strong, unanimous, unambiguous
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| 17 Jun 2026 |
18:39 |
USD/MAJORS... LSEG news, Fed's Chairman Warsh continues to say :
- each independent task force will have best minds inside, and outside, economic profession
- task forces will be supported by Fed staff
- task forces will ultimately propose next steps
- expect to propose changes, including to summary of projections
- balance sheet task force will review benefits and risks of ample reserves regime
- data task force will consider new data sources, methodological changes
- task force on productivity and jobs will survey reach of AI and other gen purpose tech
- task force on inflation frameworks will examine drivers of inflation
- each task force will serve an objective share by all Fed policymakers
- task forces to begin work in next couple of weeks
- expect to see some results by fall, conclusion of task forces by year end
- inflation framework review task is to focus on drivers of inflation
- 2% inflation is Fed's longheld objective
- I see no reason until we have delivered 2% goal to revisit that goal
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| 17 Jun 2026 |
18:30 |
USD/MAJORS... LSEG news, Fed's Chairman Warsh begins press conference and says :
- goal is to get monetary policy right
- congressional remit of price stability, max employment guided our meeting
- economic activity expanding at solid pace
- inflation well ahead of 2% goal
- persistently high prices a burden
- FOMC members are unanimous that will deliver price stability
- timely opportunity to review practices, reaffirm mission when leadership changes
- today's policy statement was shorter, simpler
- statement dispenses with older language
- statement just gives the facts
- also absent is forward guidance, not well-suited to current policy state
- did not offer projections today
- that's consistent with long held views
- encouraged others to participate as they have been
- appointing task force in five areas on monetary policy
- task force on communications, balance sheet, use of data sources
- communications, balanced sheet, data sources, productivity and jobs, and Fed's inflation frameworks will be studied
- also task forces on productivity, and inflation frameworks
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| 17 Jun 2026 |
18:01 |
Continues from previous update...
The shortened document, a return to a format similar to that used by former Fed Chairman Alan Greenspan, was approved by a unanimous 12-0 vote.
The statement showed other signs of Warsh's early influence on the debate as he takes over after being appointed earlier this year by President Donald Trump with an expectation that he would deliver the rate cuts the president has demanded.
The description of the economy touched on issues Warsh has emphasized, mentioning that "productivity growth and capital investment are strong." While acknowledging that inflation was "elevated relative to the Committee's 2% goal," that was assigned in part to "supply shocks that have driven price increases in certain sectors, including energy."
New projections show inflation slowing sharply next year.
"The Committee will deliver price stability," the statement said.
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| 17 Jun 2026 |
18:00 |
USD/MAJORS... LSEG reported tThe Federal Reserve held the benchmark interest rate steady on Wednesday and policymakers expect a hike in borrowing costs later this year amid growing concerns about inflation lodged above the U.S. central bank's 2% target.
New quarterly projections showed nine Fed officials now anticipate a rate hike by the end of 2026, and an updated policy statement removed language that had been used to flag the likelihood of further reductions in borrowing costs in 2026.
Indeed, the statement, in an early sign of new Fed Chairman Kevin Warsh's influence, removed any guidance about future rate moves altogether, with a revised format that simply stated the rate decision and reaffirmed the central bank's intent to keep "ample reserves in the banking system."
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| 14 Jun 2026 |
23:00 |
USD/MAJORS... LSEG news, Iran's National Security Council says :
- finalized text for MOU between Iran and U.S.
- signing of MOU will take place on Friday, June 19
- war and military operations on all fronts, including Lebanon, to end immediately and permanently from tonight
- agreement talks to begin after other party implements commitments under MOU
- maritime blockade against Iran to end immediately and completely
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| 14 Jun 2026 |
22:59 |
USD/MAJORS... LSEG reported E4 nations including the United Kingdom, France, Germany and Italy said on Sunday the countries were prepared to lift sanctions on Iran in response to steps on its nuclear program after the U.S. and Iran reached a deal to end their war.
"Iran must never acquire a nuclear weapon. We stand ready to work with the US, Iran and the IAEA to this end," the leaders of the countries said in a joint statement.
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| 14 Jun 2026 |
22:47 |
USD/MAJORS... LSEG reported one person was injured in a Russian air attack on the Ukrainian capital Kyiv, local authorities said, asking people to seek shelter.
A number of houses and cars caught fire after being hit by drone debris and the air attacks left some parts of Kyiv without power, Mayor Vitali Klitschko said on Telegram early on Monday.
Tymur Tkachenko, the head of the capital's military administration, said on Telegram separately that a high-rise apartment building was on fire. One person was injured, he added, without giving further details.
Drones continue to attack Kyiv from different directions, Ukraine's Air Force said separately on Telegram, adding that there was also a risk of missile attacks. Explosions were heard in Kyiv, a Reuters witness said.
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| 14 Jun 2026 |
22:39 |
USD/MAJORS... LSEG news, Iran's Mehr, on draft Iran-U.S. MOU, says :
- completed lifting of U.S. naval blockade within 30 days
- draft Iran-U.,S. memorandum calls for immediate, permanent halt to war on all fronts, including Lebanon
- calls for reopening Strait of Hormuz within 30 days under Iranian arrangements
- necessity for U.S. and allies to present reconstruction plans for Iran amounting to at least $300 billion
- draft deal envisages 60 days of talks on nuclear issues and full sanctions lifting
- draft excludes Iran's missile program and support for resistance groups from final talks
- calls for release of $24 bln Iranian blocked funds during talks
- includes that half of Iran's $24 bln blocked funds must be available before final talks start
- final negotiations will not begin before the release of half of Iran's blocked funds, waiving of Iran's oil sanctions, and lifting of the naval blockade
- final Iran-U.S. agreement would be endorsed by U.N. Security Council resolution
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| 14 Jun 2026 |
22:38 |
USD/MAJORS... LSEG news, Iran's Mehr issues details of the 14-article draft Memorandum of Understanding between Iran and the U.S.
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| 14 Jun 2026 |
22:36 |
USD/MAJORS... LSEG news, Iranian Deputy Foreign Minister continues to say :
- one of Iran's conditions for not retaliating in response to Israel's attack on Beirut's southern suburbs is Israel's withdrawal from southern Lebanon
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| 14 Jun 2026 |
22:33 |
USD/MAJORS... LSEG news, Iran's Tasnim cites source as saying that Strait of Hormuz will reopen on Friday after signing of MOU
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| 14 Jun 2026 |
22:32 |
USD/MAJORS... LSEG news, U.S. President Trump says :
- Strait of Hormuz will open Friday upon signing of ceasefire deal
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