Sterling slips back from $1.30 after John Bercow blocks Brexit vote October 21, 2019 Sterling dropped back from a six-month high against the dollar this afternoon after House of Commons speaker John Bercow refused to let the government put its deal to parliament for the second time in three days. Read more: Speaker Bercow could obstruct Boris Johnson’s bid for Brexit deal vote The pound opened around 0.6 per [...]
German central bank warns economy may have shrunk in third quarter October 21, 2019 The German economy may have contracted in the third three months to September, the country’s central bank has warned, leaving the powerhouse of Europe close to falling into recession. Read more: Eurozone inflation falls to three-year low and below half ECB target A slump in manufacturing and exports lay at the centre of Germany’s economic [...]
One in four UK households now predict the Bank of England to cut interest rates October 21, 2019 The number of households expecting the Bank of England (BoE) to cut interest rates has risen to its highest level since the Brexit referendum, survey data showed today, as Britons remain downbeat about their financial health over the coming months. Read more: Bank of England deputy suggests Brexit deal could see rates rise Households are [...]
Hey, big spender: Institute for Fiscal Studies boss Paul Johnson on the end of economic orthodoxy October 21, 2019 In the eight years Paul Johnson has been director of the Institute for Fiscal Studies (IFS), he has seen three prime ministers, two general elections and – so far – one Brexit referendum. Read more: Government almost matching Labour’s spending pledges, says IFS If that wasn’t enough, Britain’s political leaders have recently torn up their [...]
IFS boss: Labour’s spending pledges likely to push up taxes for average earners October 21, 2019 The director of the Institute for Fiscal Studies (IFS) has said Labour’s spending plans are likely to lead to higher taxes for those on average incomes. Read more: Hey, big spender: Institute for Fiscal Studies boss Paul Johnson on the end of economic orthodoxy In an interview with City A.M., Paul Johnson also said the [...]
Scotch whisky producers sound alarm as US slaps tariffs on EU goods October 18, 2019 Scottish whisky producers have warned that the US’s new 25 per cent tariffs on imports of single malt Scotch, which have come into force today, are “very bad news for our industry”. Read more: WTO gives go-ahead for $7.5bn of US tariffs on EU goods The Scottish whisky business is just one of many across [...]
Bank of England deputy suggests Brexit deal could see rates rise October 18, 2019 Deputy Bank of England governor Dave Ramsden has said he thinks gradually increasing interest rates could still be the right path if Britain achieves a smooth exit from the European Union. Read more: PM Johnson scrambles to save Brexit deal ahead of key Saturday vote Threadneedle Street has repeatedly struck a more hawkish tone than [...]
Chinese growth slows to near 30-year low as trade war bites October 18, 2019 The Chinese economy slowed to its weakest pace in almost 30 years in the third quarter, official figures have shown, as the ongoing trade war with the US weighs on the the country’s economy and global demand. Read more: Global markets underwhelmed by US-China trade truce GDP rose by six per cent year on year, [...]
UK retail sales growth holds steady as Brexit day approaches October 17, 2019 Growth in UK retail sales held steady in the third quarter of the year, official figures have shown, as shoppers remained cautious in the run-up to the October Brexit deadline. Read more: UK unemployment rate rises as Brexit fears hit labour market Britons bought 0.6 per cent more goods in the second quarter than in [...]
Eurozone inflation falls to three-year low and below half ECB target October 16, 2019 Inflation in the Eurozone fell to its slowest pace in three years in September, official figures showed today, raising fresh concerns over the direction of the single currency area’s economy. Read more: Falling fuel prices hold UK inflation at three-year low Prices grew at just 0.8 per cent in the year to September, below initial [...]