Bank of England Lowers Interest Rate to 4.75%

The Bank of England has cut its interest rate by 25 basis points to 4.75% with Governor Andrew Bailey emphasizing a cautious approach to further cuts due to persistent inflationary pressures. Meanwhile, as the U.S. presidential election approaches, betting markets show a slight favor for Donald Trump, although polls indicate a dead heat between him and Kamala Harris. Analysts from Citi suggest that market volatility from the election could create trading opportunities, with potential impacts from tariffs and taxes depending on the election outcome. Jim Cramer of CNBC highlights market movements that suggest some investors are anticipating a Harris victory based on recent polling trends in traditionally Republican states. FX traders are advised to watch the U.S. dollar's performance closely, as a Harris win could significantly weaken the currency. The ongoing economic developments are shaping a complex landscape for investors as they navigate these political uncertainties.