All the day’s economic and financial news, including the Bank of England’s interest rate vote and a eurogroup meeting on Greece * UK interest rate decision at noon * Eurozone finance ministers to discuss Greek bailout * Athens: We need substantive debt relief 8.06am BST GOOD MORNING, AND WELCOME TO OUR ROLLING COVERAGE OF THE WORLD ECONOMY, THE FINANCIAL MARKET, THE EUROZONE AND BUSINESS. The Bank of England is in the spotlight today as its Monetary Policy Committee meets to set interest rates. While borrowing costs probably won’t change today, the City will be looking for hints that the long-awaited hike could come in August. What to expect on this Bank of England decision day https://t.co/h1RHjHxTlq pic.twitter.com/CxU4dW1WMx Some lead indicators suggest wage growth could soon start to accelerate, so the case for a rate hike is building. However, there’s no rush to raise to rates this week given still high political and economic uncertainty. Bank of England today #whatever pic.twitter.com/8Cyd80Jguq “We are optimistic that we are on the verge of a solution with substance.” “The accepted criteria for all sides is that this solution be convincing for markets and embed the creditworthiness of our country - the final act in restoring the credibility of Greece to be able to plan for the next day like any ordinary country. Good morning. Today could be a Big Greek Day if the Eurogroup signs off the end of the Greek bailout. Most critical (and still open) issues: further debt restructuring and post-bailout surveillance. Continue reading...
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