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LONDON, Dec 14 (Reuters) - Investors were almost fully pricing in five quarter-point interest rate cuts by the Bank of England during 2024, a day after the U.S. Federal Reserve signalled it was moving towards cutting borrowing costs.
The BoE, which is expected to announce it has kept borrowing costs on hold for a third meeting in a row at 1200 GMT on Thursday, has stressed it is not close to thinking about cuts.
Watches of Switzerland said pretax profit in the six months that ended October 29 fell to GBP66.5 million from GBP82.7 million a year earlier, while revenue was down to GBP761.4 million from GBP765.2 million. Basic earnings per share fell to 19.8 pence from 27.2p. Looking ahead, the retailer of Swiss watches said it kept full-year guidance unchanged, based on "sequential trading improvement and the large showroom refurbishments reopening pre-Christmas".
House prices rose again last month and there are signs that activity in the market is picking up, according to the UK's biggest mortgage lender.
The Halifax said prices rose by 0.5% in November, the second increase in a row.
House prices rose again last month and there are signs that activity in the market is picking up, according to the UK's biggest mortgage lender.
The Halifax said prices rose by 0.5% in November, the second increase in a row.