This former Bank of England governor is positive about Brexit August 29, 2016 A former governor of the Bank of England has said the decision of Britain to leave Europe put the country on a better economic footing. “We are now in a better position to rebalance the UK economy,” said Lord King of Lothbury, who headed up the central bank between 2010 and 2013. “The UK economy has [...]
Sterling surges after Janet Yellen rate hike remarks August 26, 2016 The pound surged against the dollar this afternoon, after Federal Reserve chief Janet Yellen said the case for a rate hike had strengthened over the past few months. Sterling went up 0.5 per cent to hit a three-week high of $1.3264 following Yellen's speech at Jackson Hole. It has since fallen back, although it's still above the [...]
Janet Yellen says case for rate hike has “strengthened” in recent months August 26, 2016 The case for rate hikes has "strengthened in recent months", chair of the US Federal Reserve Janet Yellen has said. Speaking at Jackson Hole, the Fed chief said: "In light of the continued solid performance of the labour market and our outlook for economic activity and inflation, I believe the case for an increase in the [...]
Sterling nears three-week high on strong data August 26, 2016 Sterling hovered near a three-week high against the dollar this morning, after receiving a boost from strong economic data which showed investment was moving in the right direction. The pound was on track for its best weekly performance in six weeks against the euro, having hit a two-week high on Wednesday, although at pixel time [...]
One more measure of consumer confidence has come roaring back August 26, 2016 A leading measure of consumer confidence has surged by its fastest rate in more than three years as fears of a post-referendum economic collapse peter out. The YouGov/Centre of Economics and Business Research (CEBR) tracker, out today, climbed from 106.6 in July to 109.8 in August, on an index where scores above 100 indicate optimism among the [...]
US Presidential Election 2016: Fears creeping into US economy as service sector stumbles August 25, 2016 The US services industry is growing at its slowest pace in six months, as uncertainty ahead of November's presidential election is beginning to hamper the world's largest economy. Markit's purchasing managers' index (PMI) for the sector came in at 50.9 in August, down from a score of 51.4 in July and hovering perilously close to [...]
S&P claims quantitative easing is a programme for the many, not the few August 25, 2016 Standard and Poor's (S&P) has downplayed the role quantitative easing has in fuelling income inequality in a new report published to coincide with the annual central bankers' bash in Jackson Hole. In an investigation into whether the US Federal Reserve should consider the impact its policies have on widening the gap between the richest and the poorest, [...]
Deutsche Bank has a few ideas for Theresa May’s new industrial strategy August 25, 2016 One of the world's top investment banks has called on Theresa May to embrace a new industrial strategy and help revive British manufacturing to its former glory. Chief economists at Deutsche Bank have put together a dossier for the new Prime Minister on how she can make the most of the post-referendum opportunities, to pull [...]
Before the bell: What you need to know before the US market open August 25, 2016 Jackson Hole – the annual US economic symposium – is now underway with market watchers keenly awaiting clues on a September Fed rate hike. Here's what you need to know before the US market open at 2:30pm London time. US markets are not looking perky ahead in the pre-market. The S&P is off by 0.24 [...]
German and French economies enter summer slump August 25, 2016 The powerhouses of the Eurozone could be languishing in a summer slump, figures out today have hinted. Measures of business confidence in both Germany and France missed expectations this morning, denting prospects for either economy to bounce back from a growth slowdown in the run-up to the UK's EU referendum. The closely-watched Ifo survey of [...]