Bank of England interest rate decision, EU-Japan trade deal

Synopsis

The Bank of England announces its latest interest rate decision, which is crucial for interest rates across the UK. This announcement follows recent labor market data showing British wages growing at an annual rate of 3.3%. In August, the Bank raised interest rates to 0.75%, the highest since the financial crisis. However, uncertainty surrounding Brexit may prevent further rate increases for now. Despite a strong summer where consumers spent freely, caution has returned in the autumn. Meanwhile, the European Council prepares to ratify the EU-Japan free-trade agreement, enhancing the roles of Brussels and Tokyo in global product standards. This agreement comes after the U.S. withdrew from the trans-Pacific partnership in 2017, marking a significant commitment from the EU and Japan to strengthen their economic ties. Additionally, Fed Ex is set to release its second-quarter results, providing insights into its performance amidst these economic developments.