Iran offers two-day Hormuz reopening while Trump keeps strike optionDemocrats favoured as US midterms open after Michigan Senate endorsementRussian bombs kill 18 at Zaporizhzhia aid site as Oleshky truce is disputedHormuz tanker fires continue as IMO says attack count is understatedEbola deaths pass 5,300 as Congo's fatality rate tops 50%Oil hits two-week low on Iran talks as Gulf growth and Europe's gas buffers strainHouthis reported near Aden as fighting spreads to al-Jawf and Saudi airportsSpain train crash toll holds at 69 as investigators cite chain of faults and polls turn against SánchezMarvell agrees $115bn all-stock takeover of LumentumNewborn among 15 killed as Myanmar military strikes maternity clinic and schoolAnthropic discloses revenue surge and $895bn commitments ahead of IPOSupermarket freezers overheated across Europe weeks after French attackBank of England and RBA expected to hike as ECB and BOJ signal tighteningAt least 19 dead in Venezuelan army attack on Colombian rebel campIndia evacuates thousands ahead of second cyclone in a weekFrench school protests resume on smaller scale as German unions launch strikesEisenkot gains backing as Netanyahu questions Israeli election resultIsrael ends 10-day Hebron siege as UN logs record settler attacksOracle and Alphabet tap bond markets as AI selloff easesTrump administration asks Supreme Court to block 20,000 California mail ballotsTigray fighting pushes Ethiopia's health system toward collapse as Sudan complains to UN about dronesNine dead after Learjet crash in Palm Beach, FloridaChina steps up Gulf diplomacy as Xi hosts Oman's sultan and Wang Yi meets Iranian officialPoland's Constitutional Tribunal clash deepens as EU Commission backs parliament's right to appoint judgesBinance customers withdraw billions after record hack linked to North KoreaUS pushes Russian gas deliveries to Europe, Kremlin says transit not possible nowUN envoy expects Sudan transition talks with RSF within weeksBelgian PM De Wever offers resignation after budget talks failChina launches $15bn swap facility to support stocks after sell-offJapan weighs near-doubling of defence spending over five yearsIotova wins Bulgarian presidential runoffHackers send false nuclear warnings through Russian and Ukrainian alert appsSouth Korean sergeant dies at frontline unit as North Korea vows faster nuclear buildupOpenAI signs deals with ADNOC, G42 and Abu Dhabi as Altman travels to UAEIsraeli strikes kill at least three in Gaza despite ceasefireWestern Sahara refugees face uncertain future as UN mission MINURSO endsBolivia declares drought emergency as super El Niño hits Peru's fisheriesBangladesh garment workers block highway as wage protests enter third dayTrump removes South Africa from AGOA trade programmeIran offers two-day Hormuz reopening while Trump keeps strike optionDemocrats favoured as US midterms open after Michigan Senate endorsementRussian bombs kill 18 at Zaporizhzhia aid site as Oleshky truce is disputedHormuz tanker fires continue as IMO says attack count is understatedEbola deaths pass 5,300 as Congo's fatality rate tops 50%Oil hits two-week low on Iran talks as Gulf growth and Europe's gas buffers strainHouthis reported near Aden as fighting spreads to al-Jawf and Saudi airportsSpain train crash toll holds at 69 as investigators cite chain of faults and polls turn against SánchezMarvell agrees $115bn all-stock takeover of LumentumNewborn among 15 killed as Myanmar military strikes maternity clinic and schoolAnthropic discloses revenue surge and $895bn commitments ahead of IPOSupermarket freezers overheated across Europe weeks after French attackBank of England and RBA expected to hike as ECB and BOJ signal tighteningAt least 19 dead in Venezuelan army attack on Colombian rebel campIndia evacuates thousands ahead of second cyclone in a weekFrench school protests resume on smaller scale as German unions launch strikesEisenkot gains backing as Netanyahu questions Israeli election resultIsrael ends 10-day Hebron siege as UN logs record settler attacksOracle and Alphabet tap bond markets as AI selloff easesTrump administration asks Supreme Court to block 20,000 California mail ballotsTigray fighting pushes Ethiopia's health system toward collapse as Sudan complains to UN about dronesNine dead after Learjet crash in Palm Beach, FloridaChina steps up Gulf diplomacy as Xi hosts Oman's sultan and Wang Yi meets Iranian officialPoland's Constitutional Tribunal clash deepens as EU Commission backs parliament's right to appoint judgesBinance customers withdraw billions after record hack linked to North KoreaUS pushes Russian gas deliveries to Europe, Kremlin says transit not possible nowUN envoy expects Sudan transition talks with RSF within weeksBelgian PM De Wever offers resignation after budget talks failChina launches $15bn swap facility to support stocks after sell-offJapan weighs near-doubling of defence spending over five yearsIotova wins Bulgarian presidential runoffHackers send false nuclear warnings through Russian and Ukrainian alert appsSouth Korean sergeant dies at frontline unit as North Korea vows faster nuclear buildupOpenAI signs deals with ADNOC, G42 and Abu Dhabi as Altman travels to UAEIsraeli strikes kill at least three in Gaza despite ceasefireWestern Sahara refugees face uncertain future as UN mission MINURSO endsBolivia declares drought emergency as super El Niño hits Peru's fisheriesBangladesh garment workers block highway as wage protests enter third dayTrump removes South Africa from AGOA trade programme
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Symbolic image: Bank of England and RBA expected to hike as ECB and BOJ signal tighteningSymbolic image

Bank of England and RBA expected to hike as ECB and BOJ signal tightening

4 sources

The Bank of England is expected to raise its rate to 4% on Thursday, and Australia's central bank to hike for a fifth time on Tuesday. Reuters reports the ECB and Bank of Japan also point toward tightening.

The Bank of England's nine-member committee is widely expected on Thursday, 5 November, to lift the base rate from 3.75% to 4% after UK inflation rose to 3.5% in September, the Guardian reports. The Financial Times also expects 4%. Markets price up to four quarter-point rises over 12 months. The Bank has held off since the Iran war began, while the Fed, BOJ and ECB already raised rates this year.

Australia faces fifth hike

Markets expect the RBA to lift its cash rate to 4.85% on Tuesday, the highest in 18 years, with Brent above $110 against about $72 in early July. CBA cut its growth forecast to 1% by mid-2027, and NAB sees unemployment rising from 4.7% to as high as 5.4%. NSW premier Chris Minns warned that shops would close and not reopen.

UK mortgage pressure

According to UK Finance, 2.3m households leave fixed-rate deals in 2027 and face higher payments.

ECB and BOJ lean hawkish

Reuters headlines report that the BOJ has locked in a December hike and that ECB policymaker Kazimir says the ECB must raise rates again, with the extent uncertain.

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