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This latest move from Larry Fink’s firm aims to further capitalize on the boom in stablecoin demand, BlackRock first told CNBC.

United Kingdom (UK) Chancellor of the Exchequer Rachel Reeves denies introducing the wealth tax into the upcoming Autumn Budget in November, as we already have taxes on the wealthy community.

Almost half of wealthy givers say their heirs don’t have a relationship with their advisors, according to a new survey.

Since mid-September EUR/USD has corrected lower. In our view this move was determined by position adjustment, Rabobank’s FX analyst Jane Foley reports.

The GBP/USD pair gains positive traction for the second successive day on Thursday and recovers further from its lowest level since early August, around the 1.3250-1.3245 region touched earlier this week.

• Would like more fiscal headroom but it comes with tradeoffs on tax and spending
• Will continue to take action to bear down on prices in budget
• Determined to bring inflation back to target
• Not going to be introducing a wealth tax in the budget, already have taxes on the wealthy
• Current arrangements for OBR forecasts make it hard to have just one fiscal event a year

She’s up against an unenviable task of dealing with a fiscal blackhole in the UK, having to scour around to find up to £30 billion at the budget to balance the books. Earlier this week, she did say that she is looking at both tax rises and spending cuts in the budget so we’ll have to see. That after ruling out the possibility of relaxing the fiscal rules in the UK.

This article was written by Justin Low at investinglive.com.

• Fed interview process is going well
• Had a great interview for Chair
• Have not spoken to the President
• Cutting rates again is the right thing to do
• Don’t want to make a policy mistake, moving carefully in 25 bps increments
• Private sector data are telling a consistent story of a weak labour market
• Tariff uncertainty and wondering what AI might do for productivity has kept CEOs reluctant to hire
• Financial markets are a puzzle
• Main street America is seeing high rates on mortgages and car loans; conditions are not loose
• Should see downward pressure on mortgages if the Fed continues to cut the policy rate
• If loose financial conditions are going to cause a boom, it should be seen in the labour market; so far it isn’t
• Estimate of inflation now is around 2.5%, with nothing that seems set to jump
• The beige book did not show that things are rosy and booming
• May see GDP weaken at the end of the year
• The concern with AI is if it is structural change in labour demand, which the Fed’s cyclical tools cannot address

As a reminder, Fed’s Waller is a dove so these comments and his support for more 25 bps cuts are not new information at all.

This article was written by Giuseppe Dellamotta at investinglive.com.

Rate cuts by year-end

• Fed: 48bps (98% probability of rate cut at the upcoming meeting)

2026: 120 bps

• ECB: 2 bps (99% probability of no change at the upcoming meeting)

2026: 18 bps

• BoE: 11 bps (85% probability of no change at the upcoming meeting)

2026: 54 bps

• BoC: 25 bps (62% probability of rate cut at the upcoming meeting)

2026: 40 bps

• RBA: 24 bps (60% probability of no change at the upcoming meeting)

2026: 44 bps

• RBNZ: 24 bps (92% probability of rate cut at the upcoming meeting)

2026: 41 bps

• SNB: 2 bps (92% probability of no change at the upcoming meeting)

2026: 13 bps

Rate hikes by year-end

• BoJ: 12 bps (77% probability of no change at the upcoming meeting)

2026: 40 bps

*The 2026 pricing reflects the cumulative easing expected by the end of 2026, not how much easing is expected in 2026 alone.

After Trump’s threat of imposing 100% tariffs on China last Friday, the market pricing turned more dovish for the Fed as traders started pricing in some growth risk.

We’ve also seen an increase in the dovish bets for the BoE and the RBA following the soft UK and Australian labour market reports.

This article was written by Giuseppe Dellamotta at investinglive.com.

The US Dollar found some support at the 98.40 area earlier on Thursday, but the frail recovery attempt has remained limited well below the 99.00 area.

Bias remains on the downside, and USD could decline toward 150.20. In the longer run, the current price movements are likely the early stages of a 149.50/153.00 range-trading phase, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.