Saudi Aramco to restore 70% of oil exports ‘within days’ via Red Sea pipeline - business live

Rolling coverage of the latest economic and financial newsMarkets are pricing in a chance that the Bank of England could cut interest rates this year, but a cut next week looks unlikely, says Kathleen Brooks, of the broker XTB.There is currently 0.4 rate cuts priced in for this year, and UK rates are expected to end the year at 3.65%, down from the current level of 3.75%. There is a 7.2% chance of a rate cut priced in for the BOE’s meeting next week.While we doubt that a rate cut is on the cards, the Bank of England will need to use next week’s meeting to signal their future intentions. Will they look through the crisis in the Middle East as a temporary spike in commodity prices and focus on the weakening economy? Or will the situation have died down enough for them to signal that further