Bank of England keeps interest rates flat – but says there are limits to how much above-target inflation can be tolerated November 3, 2016 The Bank of England kept interest rates flat as it revealed ramped-up forecasts on inflation and growth today. But the the Monetary Policy Committee (MPC), which met yesterday and voted unanimously to keep rates at 0.25 per cent, has indicated “there are limits to the extent to which above-target inflation can be tolerated”. The increased [...]
Service sector growth beats expectations in the third quarter – but inflation is about to bite November 3, 2016 Another day, another figure showing the economy was in pretty good nick in October, after output in the UK's largest sector beat expectations. Markit/CIPS' purchasing managers' index (PMI) for the services sector rose to 54.5 in October, up from 52.6 in September and way higher than the 52.4 economists expected. Any figure above 50 denotes [...]
How much would you pay for a satanic new five pound note? This eBay seller’s hoping for more than £666 November 3, 2016 Somebody with a devilish sense of humour has put a new five pound note on eBay for a cool £300,000. Why so much, you ask? It's a satanic fiver of course – the serial number is 666 making it a pretty rare number indeed. Now people are willing to shell out for some of the rarer [...]
Dollar to suffer third day of losses over US election turmoil November 3, 2016 The US dollar is set to bear its third day of losses – a losing streak that the currency hasn't suffered for a month and a half. At time of writing, the US dollar was down 0.02 per cent against the euro, as the uncertainty over the outcome of the US presidential election continued to [...]
Why Trump could be in for a thumping victory November 3, 2016 As if 2016 hadn’t already provided enough reasons for investors to panic, a late narrowing of opinion polls ahead of next week’s US election is sending shivers through trading flaws. Could Donald Trump steal an incredible (and, in the opinion of many, terrifying) victory next Tuesday? It remains unlikely – but less unlikely than in recent [...]
Recipe box startup Gousto gobbles up millions more in funding November 3, 2016 Food delivery startup Gousto is hungry for growth, landing millions more cash from investors. Unilever and Barclays are among the corporate investors ploughing a further £10m into the company which delivers fresh ingredients and recipes via subscription direct to people's doors. Read more: Antony Jenkins' fintech startup has revealed its first banking client LoveFilm entrepreneur Simon Calver's BGF Ventures, [...]
Carney expected to leave rates on hold on Bank’s Super Thursday November 3, 2016 The Bank of England is widely expected to leave interest rates on hold when it meets later today. Better-than-expected economic growth data in the third quarter – seen as a sign of resilience following the UK’s vote to quit the European Union – could mean Bank of England governor Mark Carney paints a rosier picture [...]
Money supply growth suggests we’re still too pessimistic about the British economy November 2, 2016 The latest broad money supply M4x figures from the Bank of England (up to the end of September this year) paint a picture of an economy getting stronger, not weaker. To understand why, we need a short digression into economic theory. Broad money supply growth provides an insight into the outlook for nominal GDP growth [...]
The age of deglobalisation is here: Now we must face up to its implications November 2, 2016 Politics is never certain. Yet from Brexit and wider Eurozone disquiet, to the isolationist rhetoric permeating the US elections, one thing is clear: the former mantras of globalisation and deregulation are facing increasing opposition. Voters across the developed world are expressing the view that the benefits of operating at an international scale have been offset by [...]
Federal Reserve holds rates ahead of US presidential election November 2, 2016 The US Federal Reserve’s rate-setting Federal Open Market Committee (FOMC) has voted to leave interest rates on hold. But the Fed set the stage for a hike in December amid signs of the economy picking up. The Fed said: The committee judges that the case for an increase in the federal funds rate has continued [...]
