Good morning! Here’s what you need to know in markets on Thursday.
1. All eyes are on the Bank of England, with the latest inflation decision, asset purchase facility decision, and outlook on the UK economy all due at 12.00 p.m. BST (7.00 a.m. ET). No change is expected to the Bank’s policy but inflation data on Wednesday put pressure on the bank to raise rates sooner rather than later. Markets will therefore be watching the wording of any statements closely.
2. The tax authorities have accused Amazon of failing to co-operate fully in tackling a multibillion-pound fraud that is putting scores of small British companies out of business. The Times reports that figures from HM Revenue & Customs suggest that foreign companies selling goods through websites such as Amazon and eBay are evading tax on up to a third of all sales. Meanwhile, the online giants make millions of pounds in commission.
3. US stocks nudged higher to a new record overnight as investors weighed new inflation data in an attempt to forecast the Federal Reserve’s next move. The S&P 500 rose less than 0.1%, up slightly from a new record high reached on Tuesday. Meanwhile, the Dow rose 0.2%, …read more
Source:: Businessinsider – Finance