Eurozone inflation holds steady at 0.2 per cent in July July 31, 2015 The Eurozone's annual inflation rate held steady at 0.2 per cent in the year to July, unchanged from the previous month, a flash estimate by Eurostat showed today. Nevertheless inflation remains well below the European Central Bank's (ECB) target of just under two per cent, meaning there's still plenty of work for the ECB's €60bn a [...]
Russian central bank cuts interest rate, pushing down rouble July 31, 2015 The Russian central bank has cut its benchmark interest rate again, this time by half a percentage point, to 11 per cent. It's the second time in as many months it's cut its interest rate – and that's after it slashed it by two percentage points in January, one percentage point in March and 1.5 [...]
Where are London salaries growing fastest? Kensington and Chelsea and Tower Hamlets have biggest wage growth July 31, 2015 It pays to be a Londoner. Wages are still highest in the capital, and growing at a higher pace than the rest of the country – but where are they growing fastest? The growth is far from evenly split, even within London. Some areas of the capital have experienced a truly booming growth in earnings, [...]
London house prices: First-time home buyers face nightmare market as deposits soar and supply lags July 31, 2015 We all know how tough the housing market is for first-time buyers, and one of the main reasons is lack of supply. Much has been said about how the government is looking to tackle this problem by encouraging housebuilders to ramp up construction of new builds. But figures out this morning show that far from [...]
GDP growth: Ireland’s economy powered ahead in the first quarter July 31, 2015 Ireland is that little bit closer to having the fastest growing economy in Europe for the second year running. The country's Central Statistics Office (CSO) said the economy grew 1.4 per cent in the first quarter of 2015 compared with the previous three months, but slightly below economists' expectations for a 1.5 per cent rise. [...]
IMF may not participate in third Greek bailout July 31, 2015 The International Monetary Fund (IMF) has said it could be prevented from participating in Greece's third bailout programme, due to the state's debt pile and poor record of implementing previous economic reforms, it has been reported. This means while IMF staff will continue to participate in current negotiations around the Greek debt crisis, it could be [...]
Eurozone recovery finally gaining traction as Spanish economy grows one per cent July 31, 2015 The Eurozone economy is picking up steam, with bullish figures released yesterday suggesting the currency bloc could be about to turn a corner. Spain’s economy grew by one per cent in three months to June, its fastest pace for seven years. The economy is now 3.1 per cent larger than it was a year ago, [...]
UK firms and consumers upbeat on the economy July 31, 2015 The UK’S economic growth prospects got a boost today as more British businesses said they are seeing output grow, while consumers are more confident on their finances. More firms registered output growth in three months to July, according to a survey of firms published by the Confederation of British Industry (CBI). The percentage of firms that [...]
US mulls oil price war with Middle East: Senate debates lifting ban on exports July 31, 2015 Senators in the US have raised the prospect of an oil price war with the Middle East. The Senate held a crucial meeting on whether the decades-old ban on exporting crude oil should be lifted, with chair of the Senate committee on energy and natural resources, Lisa Murkowski, arguing the US should “compete against our [...]
Strong US GDP figures set the stage for a Fed interest rate hike July 31, 2015 New figures out yesterday showed that US economic growth accelerated in the second quarter, fuelling expectations that the Federal Reserve will hike interest rates later this year. GDP expanded at a 2.3 per cent annual rate, with strong consumer spending offsetting weak business spending. Economists had expected a 2.6 per cent rise in GDP, but Millan [...]