ASX set to open 0.6% higher as Wall Street tech rebounds and oil, yields fall
AI Market Summary
The Bank of England held rates at 3.75% but signaled a more hawkish stance with a 6-3 split and higher inflation projections, increasing perceived policy tightening risk. The BoE also paused active gilt sales for six months, driving UK yields lower and weakening sterling versus the dollar. Softer global yields and lower oil supported a tech-led rebound in US equities and a stronger AUD, lifting ASX open expectations.
Impact level
● Medium
Affected assets
NCFXGBP2USD/USDT-0.04%
AI Insight · NCFXGBP2USD/USDTAI Insight
● Neutral
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The Bank of England kept its benchmark rate unchanged at 3.75%, but a 6-3 vote signalled a more hawkish tilt, with chief economist Huw Pill among three backing a hike. The BOE sharply lifted its inflation outlook, forecasting inflation will rise above 4% in early 2027, well above its 2% target. As global bond yields retreated and oil prices fell, US tech shares rebounded and Australia’s ASX was expected to open 0.6% higher. The Australian dollar rose 0.3% to 71.1 US cents.
