Bloomberg Daybreak: Europe Edition
UK Inflation Overshoots, Powell Signals Cut Delay & Dimon Talks AI Jobs Impact
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Your morning briefing, the business news you need in just 15 minutes.On today's podcast:
(1) UK inflation slowed less than expected last month as fuel prices crept higher, prompting traders to unwind bets on interest rate cuts.
(2) Bank of England Governor Andrew Bailey hinted that the UK might be able to lower interest rates before the US, saying inflation dynamics in the two economies are diverging.
(3) UK Chancellor of the Exchequer Jeremy Hunt said the prospect of interest rate cuts later this year would lift the mood of voters, hinting that Prime Minister Rishi Sunak won't call a general election until the fall.
(4) Federal Reserve Chair Jerome Powell signaled policymakers will wait longer than previously anticipated to cut interest rates following a series of surprisingly high inflation readings.
(5) Jamie Dimon has told Bloomberg that AI will transform banking, but it will also lead to job losses.
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