The Bank of England cut interest rates but four of its nine policymakers – worried about high inflation – sought to keep borrowing costs on hold, suggesting the BoE’s run of rate cuts might be nearing an end.
Bank of England cuts rates to 4%
S&P 500 flattens on report of Waller as Trump’s preferred Fed chair pick
Wall street’s main indexes trimmed their early gains amid concerns over the Federal Reserve’s independence, following a report that Fed Governor Christopher Waller was President Donald Trump’s top candidate for the central bank’s chair post.
Ripple to buy stablecoin payments platform Rail
Ripple announced that it will acquire stablecoin-powered payments platform Rail for $200 million, with the deal expected to close in the fourth quarter of 2025. The company said the move aims to expand its enterprise-grade digital asset infrastructure
Euro at one-week high
The dollar dropped and the euro hit a one-week high as traders bet that the Federal Reserve will cut rates more times than previously expected this year, following weaker than expected jobs data for July.
Wall Street boosted by earnings, Fed rate cut hopes
Wall Street gained, boosted by a string of largely upbeat corporate earnings, while rising expectations of a Federal Reserve interest rate cut provided additional support. Odds for next month’s rate cut stand at 93.2%
Gold eases on profit-taking
Gold prices eased as investors booked profits after prices hit a near two-week high in the previous session, while the market’s focus shifted to U.S. President Donald Trump’s upcoming Federal Reserve nominations.