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Real-time News
July 30th - The Bank of Englands benchmark forecast indicates that as energy price shocks gradually transmit to the overall economy, the UKs annual inflation rate will remain above the 2% target until the fourth quarter of 2027. In a more moderate scenario, the Bank of England expects inflation to fall below the 2% target in the third quarter of next year. However, in a more adverse scenario, the Bank of Englands model shows that inflation could rise above 4% early next year and remain above 2% until 2029. Latest UK data shows that the annual inflation rate fell to 2.6% last month, a larger drop than market expectations.On July 30th, Kingboard Laminates (01888.HK) announced in Hong Kong that it expects to record a net profit of over HK$2.8 billion for the six months ended June 30, 2026, representing an increase of over 200% compared to the same period in 2025. The significant increase in net profit is mainly due to the continued supply shortage of copper-clad laminates and their upstream materials (including electronic glass fiber yarn, electronic glass fiber cloth, and copper foil), leading to a general increase in product unit prices. Sales volume of copper-clad laminates also increased compared to the same period in 2025. Furthermore, the companys strong and well-established vertically integrated business model also contributed to the net profit growth.The governor of the Central Bank of Ukraine said that Russias attack on Ukrainian port infrastructure will result in a loss of $2.5 billion in foreign exchange earnings.On July 30th, Ed Hutchings, Head of Interest Rates at Aviva Investors, stated, "The Bank of Englands decision to keep interest rates unchanged was entirely in line with expectations, but looking ahead, there is clearly still considerable uncertainty among the Monetary Policy Committee members, as evidenced by the voting results and their statements." He added, "It remains difficult to predict how things will develop. While recent employment and inflation data have provided some positive signals, investors and the Committee will likely continue to focus on the risks to the economic outlook, particularly inflation risks." He further added, "Currently, we expect the Monetary Policy Committee to continue its wait-and-see approach, assessing developments in the UK domestic situation and the Middle East."Bank of England Governor Bailey will hold a monetary policy press conference in ten minutes.
