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The Dow Jones Industrial Average has just broken through the 48,100.00 mark, currently trading at 48,098.89, up 0.44% on the day.

Spot platinum has just broken through the $1910.00/oz mark, last trading at $1909.05/oz, up 0.47% on the day; Nymex platinum futures main contract was last trading at $1949.3/oz, up 0.58% on the day.

[The pound's relief rally following the Bank of England's decision may be short-lived] ING analysts said in a report that the pound's relief rally following the Bank of England's narrow 5-4 vote to cut interest rates on Thursday may be short-lived. They stated that the euro should remain above 0.87 against the pound, given the possibility of two more rate cuts by the Bank of England next year. "We see no reason to change our forecast that the euro will rise moderately towards 0.90 by the end of 2026, with some additional upside risks around the UK local elections in May," they said. However, they added that the pound could rise against a weaker dollar, reaching $1.35 by the end of the year and $1.36 in 2026.

Spot platinum has just broken through the $1920.00/oz mark, last trading at $1920.10/oz, up 1.05% on the day; Nymex platinum futures main contract was last trading at $1952.4/oz, up 0.74% on the day.

[Deutsche Bank: ECB May Need to Consider Rate Cuts or Hikes in 2026] Mark Wall of Deutsche Bank stated in a report that the European Central Bank's current policy of maintaining interest rates unchanged will face a "watchful test" in 2026 given the uncertain inflation outlook. He said that overall inflation is expected to be below 2% in both 2026 and 2027, but core inflation will be more sticky. The chief European economist is considering what might happen if overall inflation falls further below target, or if inflation expectations "de-anchor" from 2% and imply overshooting. He said, "Would this open the door to further policy easing?" "Or, would the improving growth outlook driven by domestic demand, along with a stronger outlook for services inflation, mean a more confident wait-and-see approach?" He said that rate hikes are not on the agenda, at least not at present.

[Bank of England Hints at Low Short-Term Inflation Risks, Higher Medium-Term] Joaquin Thul of EFG Asset Management stated in a report that the Bank of England's policy guidance indicates that UK inflation is expected to continue declining in the coming months, but may rebound in the medium term. The Bank of England anticipates that UK budget measures will lead to a decline in inflation in the short term. However, tax measures that will take effect in the coming years could push up inflation. The Bank of England cut interest rates by 25 basis points to 3.75% on Thursday by a narrow 5-4 vote.