Markets look for clues on future direction of interest rates as central bankers meet for Jackson Hole Symposium August 21, 2023 Central bankers from around the world will descend on Wyoming for the annual central banking jamboree later this week, with markets looking closely for any signals about the future direction of interest rates. Last year the discussion focused on the near certain recession that commentators thought would develop in the face of rapidly rising interest [...]
FTSE 100 live: London slow as retail sales dip and China concerns weigh UK down August 18, 2023 The FTSE 100 continued Friday in sluggish fashion as UK retail sales fell almost double the amount expected. London’s premier blue-chip index dipped as much as 0.8 per cent in early trading, slouching at 7,251.32, 0.8 per cent down by midday. Nearing market close, it fluctuated between 0.8 and one per cent with largest caller [...]
‘Greedflation’ not behind UK price rises, new data indicates August 17, 2023 Corporate profiteering, or ‘greedflation’, is not the driving force behind UK price rises, new data out today indicates. The profitability of private non-financial corporations grew by 0.1 per cent between the last quarter of 2022 and the first quarter of 2023, the Office for National Statistics (ONS) reported. It found that the net rate of [...]
How is Sunak doing on halving inflation, cutting NHS lists and stopping boats? August 16, 2023 In January, Rishi Sunak unveiled the vision for his government. Five pledges; five clear goals; five ambitions for his ministers. His aim was clear: be seen as an effective, solutions-focused administration and, hopefully, reap the electoral rewards. “No tricks, no ambiguity; we’re either delivering for you or we’re not,” he vowed. Eight months in, and [...]
Inflation: Falling energy bills and price cap helps drive down prices August 16, 2023 Falling energy costs are taming once rampant inflation rates, with the consumer price index rising at its lowest rate since last February.
Why today’s inflation data is still bad news for a bruised Bank of England August 16, 2023 Core inflation is unmoved and services inflation actually crept up. It all points to more trouble for the embattled Bank of England.
Red China: Economy indicators turn south as China stops reporting young unemployment August 15, 2023 A broad array of Chinese data on Tuesday highlighted intensifying pressure on the economy from multiple fronts, prompting Beijing to cut key policy rates to shore up activity but analysts say more support is needed to revitalise growth. Less than an hour before the release of a batch of July data, China’s central bank unexpectedly cut key [...]
Analysis: Why record wage growth will give the Bank of England kittens – and see them raise rates again August 15, 2023 Wage growth outstripping inflation should be good news, but Bank of England wonks will fear a wage price spiral is in play
Chinese economy: Country’s biggest property developer sees shares crash to record low August 14, 2023 Chinese property giant Country Garden’s debt problems deepened after its onshore bonds were suspended, sending its shares plunging 16 per cent to record low on Monday in a fresh blow to policymakers trying shore up confidence in a stuttering economy. Markets remain jittery as the trouble in China’s largest private property developer could have a chilling effect [...]
Cost of living pressures set to ease as inflation tipped to fall again August 14, 2023 Cost of living pressures facing households are set to ease, as experts predict inflation will fall below wage growth for the first time since last April. Official figures out on Tuesday are tipped to show that wage growth hit 7.4 per cent in the three months to June on an annual basis, up from 7.3 [...]