• Reuters

    GLOBAL MARKETS-Stocks enjoy a bounce from rate-cut fever

    Global shares rose to one-month highs on Friday while the dollar held steady, giving commodities a boost, after softer U.S. jobs data gave investors confidence that interest rates will start to decline this year. In currencies, the pound headed for a modest weekly loss after the Bank of England (BoE) on Thursday paved the way for the start of rate cuts as soon as next month, while data showed the UK economy exited a mild recession in the first quarter of this year. The MSCI All-World index was up 0.3%, as equities in Asia and Europe took their lead from a rally on Wall Street overnight, after data showed the number of people filing for jobless benefits for the first time rose more than expected, suggesting the U.S. economy is beginning to slow.

  • Reuters

    UPDATE 1-ECB set scene for June rate cut at last meeting, account shows

    Euro zone inflation remains on track to fall back to 2% next year, so European Central Bank policymakers will likely start cutting interest rates from a record high in June, the account of their April meeting showed on Friday. The ECB left interest rates unchanged last month but made clear that its next move will be a cut, most likely on June 6, provided wage and inflation data stay on their current, relatively benign path. "It was seen as plausible that the Governing Council would be in a position to start easing monetary policy restriction at the June," the ECB said in the account of the April 10-11 meeting.