What had looked like a straightforward decision a few weeks ago now appears far more finely balanced for the Bank of England’s Monetary Policy Committee (MPC).

A majority of analysts polled expect policymakers to keep the Bank Rate unchanged at 4.00% when the decision is announced at midday on Thursday. However, a growing number of experts now see scope for a rate cut.

Most observers believe the MPC will prefer to wait until after the Autumn Budget at the end of the month before making its next move. Chancellor Rachel Reeves is expected to announce tax rises when she presents her fiscal roadmap on 26 November. (LiveSquawk – Continue Reading)

The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for October on Wednesday. The so-called ADP Employment Change report is expected to show that the United States (US) economy created 25,000 new positions, following a 32,000 net decline in September.

These figures will attract particular interest this month, as the US Government shutdown extends for the fifth week already, and is highly likely to deprive the market and the Federal Reserve (Fed) of the closely watched JOLTS Job Openings and the key Nonfarm Payrolls (NFP) report this week. (FXStreet – Continue Reading)

China will suspend retaliatory tariffs on U.S. imports, including duties on farm goods, after last week's meeting of the two countries' leaders, Beijing confirmed on Wednesday, but imports of U.S. soybeans still face a 13% tariff.

The tariff commission of the State Council, or cabinet, will scrap duties of up to 15% imposed on some U.S. agricultural goods from November 10, while keeping levies of 10% introduced in response to President Donald Trump's "Liberation Day" duties. (Reuters – Continue Reading)

The Chinese government has issued guidance requiring new data centre projects that have received any state funds to only use domestically-made artificial intelligence chips, two sources familiar with the matter told Reuters.

In recent weeks, Chinese regulatory authorities have ordered such data centres that are less than 30% complete to remove all installed foreign chips, or cancel plans to purchase them, while projects in a more advanced stage will be decided on a case-by-case basis, the sources said. (Reuters – Continue Reading)

Senior Commissioners and the European Parliament’s top brass will meet Wednesday afternoon to try to hash out a deal over disputed parts of the EU’s €1.8 trillion long-term budget.

The meeting follows weeks of increasing tensions between the EU’s executive and legislative branches in Brussels.

Ursula von der Leyen’s Commission is holding discussions with members of the European Parliament after leading political groups warned they might reject part of the legislative proposal put forward by the executive on the multi-year budget, known as the MFF, due to start in 2028.

The Commission has still not put anything on the table, said Siegfried Mureșan, the Parliament’s lead budget negotiator and a Romanian MEP from the center-right European People’s Party, on Wednesday morning ahead of the meeting. (POLITICO – Continue Reading)