BANK of England governor Mark Carney’s keynote lunch speech to business leaders in Nottingham tomorrow has already been dubbed “Mark versus Market” – with market watchers dubious about Carney’s claims for long-term low interest rates.
Rob Wood, economist at Berenberg Bank, said: “Growing momentum in the economy, rapidly rising house prices, and wide disagreements on the MPC are going to make it difficult for Mark Carney to make a convincing argument that the first interest rate hike is not coming until 2016. That is unlikely to stop him trying in his speech. Mark versus market will be the key event next week. We expect him to sound very dovish.”
Other news includes the CBI Distributive Trades Survey for August tomorrow, the Lloyds Business Barometer and Gfk Consumer Confidence reports on Thursday and news on Friday of July’s mortgage approvals, net lending, consumer credit and money supply as well as the Nationwide house prices index.
The corporate calendar is fuller, with today’s reports coming from British Polythene Industries, Bunzl, Petrofac, Regus and UTV Media.
Tomorrow Antofagasta, APR Energy, Candover Investments, Chime Communications, G4S, Johnston Press, Paddy Power, Polymetal International, Randall & Quilter Investment Holdings, Seadrill Partners and Chemring Group will report.
Thursday’s updates include Admiral Group, Anglo Pacific Group, Bumi, Cape, Evraz, Lombard Medical Technologies, Macfarlane Group, Melrose Industries, Oxford Biomedica, Petropavlovsk, Playtech, Salamander Energy, Serco Group, Soco International, Unite group, WPP and Stagecoach Group
Friday’s reports include those from Haynes Publishing, Bwin.party, Computacenter, Headlam Group, Heritage Oil, Independent News & Media, Restaurant Group and Ruspetro.