The London and Frankfurt stock exchanges hit record highs Thursday as the Bank of England kept its interest rate at a 16-year high but raised hopes of a cut in the coming months. Meanwhile, Wall Street rose following data showing a climb in claims for unemployment benefits that could raise the prospect of a US rate cut. The British capital's benchmark FTSE 100 index, which has been breaking records repeatedly in recent days, extended the rally, rising 0.3 percent. His comments raised hopes that the BoE could soon cut rates. US Treasury bond yields, a proxy for interest rates, moved lower.

Source: The Times May 09, 2024 11:26 UTC