USD/JPY tumbles further after intervention warning earlier

Iran Supreme Leader statement due 'shortly' - State TV Just in | Iran's Supreme Leader to Address Nation Soon, Reports State TV.

Iran's Supreme Leader: A new chapter for the Gulf and Strait of Hormuz is taking shape - Post on X Iran's Supreme Leader: The Gulf will have a 'bright future’ without the presence of the US - State TV IRAN'S KHAMENEI: NEW MANAGEMENT OF HORMUZ TO BENEFIT REGION IRAN WILL DISMANTLE "US EXPLOITATION’ OF HORMUZ: KHAMENEI IRAN'S SUPREME LEADER SAYS THE NEW MANAGEMENT OF THE STRAIT OF HORMUZ 'WILL BRING CALM AND PROGRESS' AS WELL AS 'ECONOMIC BENEFITS' TO ALL GULF NATIONS - STATEMENT Just in | Iran's Supreme Leader emphasizes commitment to safeguarding missile and nuclear technology with the same vigilance as its national borders.

At its meeting ending on 29 April 2026, the Monetary Policy Committee (MPC) voted by a majority of 8–1 to maintain Bank Rate at 3.75%. One member voted to increase Bank Rate by 0.25 percentage points, to 4%. The conflict in the Middle East means that prospects for global energy prices are highly uncertain. Monetary policy cannot influence energy prices but will be set to ensure that the economic adjustment to them occurs in a way that achieves the 2% inflation target sustainably. The policy stance required to achieve this will depend on the scale and duration of the shock, and how it propagates through the economy. The April Monetary Policy Report sets out three scenarios that help to illustrate a range of possible outcomes for the UK economy. CPI inflation has increased to 3.3%, and is likely to be higher later this year as the effects of higher energy prices pass through. There is a risk of material second-round effects in price and wage-setting, which policy would need to lean against. But the labour market continues to loosen, and a weak Just in | BoE: Slower economy and labor market, along with tighter financial conditions, expected to gradually decrease inflation. Just in | The Bank of England warns of potential significant second-round effects from inflation on wage and price-setting, indicating a need for policy adjustments to mitigate these risks. Just in | Bank of England releases new forecasts based on three scenarios for energy prices and inflation, without updating central economic projections. Bank of England signals interest rate hikes ahead despite April hold The Bank of England has all but confirmed that interest rates will be hiked in the coming months as oil prices have shot up, despite opting to hold them in a meeting on Thursday. The Bank’s Monetary Policy Committee warned interest rates could climb back to 5.25 per cent from the current level of 3.75 per cent, cancelling all six interest rate cuts seen over the last two years. This sharp change in the direction of interest rates would take place in a scenario where oil prices exceed $130 per barrel and sustain high levels for the next year and a half. Its updated forecasts suggested inflation would exceed six per cent while growth would also suffer a hit.

At its meeting ending on 29 April 2026, the Monetary Policy Committee (MPC) voted by a majority of 8–1 to maintain Bank Rate at 3.75%. One member voted to increase Bank Rate by ...