Euro falls as Eurozone growth forecasts slashed March 7, 2019 European Central Bank (ECB) president Mario Draghi today announced a significant downgrade in Eurozone growth predictions as he renewed a stimulus programme of cheap loans to bolster the struggling economy. The ECB predicted that Eurozone GDP would increase only 1.1 per cent in 2019, 0.7 percentage points down from its December 2018 prediction. It forecast growth of [...]
Bank of England more likely to cut interest rates after no-deal Brexit, policymaker says March 7, 2019 The Bank of England’s monetary policy committee would be more likely to cut interest rates in the event of a no-deal Brexit, according to rate-setter Silvana Tenreyro. Tenreyro’s comments adds further clues as to the direction of travel for interest rates if Britain leaves the EU without a deal. Read more: Brexit uncertainty costs UK [...]
Eurozone GDP growth falls below expectations confirming sluggish 2018 March 7, 2019 Eurozone GDP grew slightly in the final three months of last year but dropped sharply year-on-year, falling below expectations. The EU’s statistical office Eurostat confirmed that GDP grew 0.2 per cent in the fourth quarter, up from 0.1 per cent the previous quarter. Read more: Eurozone construction rebounds led by German recovery in February But [...]
Trump was brave to leave North Korea empty-handed March 7, 2019 He came he saw, he left empty-handed. For the self-proclaimed consummate deal-maker that is President Donald Trump, it would not be an understatement to say that last week’s second summit with Supreme Leader Kim Jong-un on North Korea’s prospective denuclearisation did not go quite according to plan. Trump’s gamble had been that his personal rapport with [...]
OECD slashes global growth forecasts and warns of no-deal Brexit recession March 6, 2019 Global growth predictions were slashed today as a major economic body warned that a no-deal Brexit would see Britain return to recession. The Organisation for Economic Cooperation and Development (OECD) cut predictions for the UK’s growth to 0.8 per cent in 2019 and 0.9 per cent in 2020. Read more: EU faces the biggest risks [...]
Eurozone construction sectors boosted in February by German and French recovery March 6, 2019 Construction firms in the Eurozone were boosted last month by an upturn in building activity following a slow start to the year. German firms led the way with a sharp rise in activity, while there was also a return to expansion in France, according to the widely-regarded IHS Markit purchasing managers’ index (PMI). Read more: [...]
Like the myth that the Earth is flat, the socialist conspiracy theory never dies March 6, 2019 The idea that the Earth is flat is a rapidly growing trend on social media. The Flat Earth Society’s Twitter feed has the best part of 100,000 followers. The fact that the planet is a sphere has been known since at least the time of the ancient Greeks. The astronomer Eratosthenes demonstrated it with a simple [...]
Buckle your seatbelts for the next global recession – the world is not prepared March 5, 2019 A decade on from the global financial crisis, the world economy is not in good health. Britain is paralysed by Brexit uncertainty, the Eurozone – including its seemingly invincible German powerhouse – is stuttering, and China is experiencing its slowest economic growth since 1990. Read more: Eurozone economic confidence falls to fresh two-year low Even [...]
UK services sector set for weakest quarter since 2012 amid Brexit uncertainty March 5, 2019 The UK services sector look set for its weakest quarter since 2012 as a subdued start to the year continued last month. Business activity expanded marginally in February but new work fell for a second consecutive month, according to the widely-regarded IHS Markit / CIPS purchasing managers’ index (PMI). Employment numbers also declined at the [...]
Pay politicians £500,000 each per year and maybe we’d get better quality MPs March 5, 2019 Few people are as hawkish on government spending as me. However, there is one area where taxpayers should be willing to spend much, much more: the salaries of our members of parliament. Last week, the Independent Parliamentary Standards Authority announced that MPs’ basic pay was to increase by 2.7 per cent to £79,468 from 1 April. [...]
