Last night the BoE unexpectedly hiked rates by 0.75% and also said the UK is in recession. So what did the UK market do? It liked it and rallied. The US market also spiked temporarily and ended the day with a green candlestick when the PMI came in lower than expected - meaning the rate hikes are working. Perhaps, the market is now looking beyond the slowdown? Next is the election. Expect the market to like the Republicans winning one or both houses.
Last night the BoE unexpectedly hiked rates by 0.75% and also...
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8,212.2 |
Change
8.500(0.10%) |
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| Open | High | Low |
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| XJO (ASX) Chart |