Bigger pay packets give pound a lift as sterling hits seven-year high against the euro February 18, 2015 Sterling soared to a seven-year high against the euro yesterday, pushed up by record jobs figures and rising wages, with some investors expecting a Bank of England rate hike to come sooner than had been expected. The UK’s employment level jumped to an equal record high of 73.2 per cent at the end of [...]
Federal Reserve remains wary of interest rate hike February 18, 2015 GOLD, PLATINUM and emerging currencies were buoyed last night after minutes of January’s Federal Reserve meeting revealed the majority of the committee remain wary of hiking rates too soon and hampering growth in the US economy. The minutes revealed the group was less unified on its strategy for when it will eventually raise interest rates [...]
Federal Reserve cautious of raising interest rates against backdrop of economic growth February 18, 2015 The Federal Reserve’s policy committee reaffirmed its cautious approach to raising interest rates after voting in unison against the measure in January. Minutes from the January meeting reveal that the majority of the committee were wary of hiking rates too soon and hampering growth in the US economy. However, the group was less unified [...]
Sterling hits new seven-year high against Euro following hints of interest rate hike February 18, 2015 The UK’s pound jumped more than one per cent against the euro today to €1.36, reaching its strongest level since January 2008 after the Bank of England hinted it could lower interest rates in the next few months. The seven-year high for sterling against the eurozone currency came after minutes from the Bank [...]
Chinese New Year: How the goat could bring some prosperity to China’s struggling economy February 18, 2015 The year of the horse didn't work out too well for China. Growth slowed to its lowest point in two decades, while an over-investment in construction has resulted in too much property relative to demand. The country's leaders have attempted to spur growth on again, with the People's Bank of China cutting interest [...]
Bank of England minutes: MPC unanimously voted to hold interest rates February 18, 2015 The Bank of England's monetary policy committee (MPC) voted unanimously to hold the interest rate at 0.5 per cent when it met last, despite hints it could be lowered in the next few months. Minutes of the MPC's meeting in early February showed the committee's hawks – Martin Weale and Ian McCafferty, who have both [...]
Plunging inflation may knock deficit reduction February 17, 2015 Inflation fell to a record low in January, giving a welcome boost to hard-pressed households – but a group of economists warned the drop will harm the government’s finances, because tax receipts rise when prices go up. Prices rose by just 0.3 per cent in the 12 months to January, the Office for National Statistics said [...]
UK inflation: Last time it was this low, it was measured by the prices of swiss roll, tracksuits and luncheon meat February 17, 2015 The last time inflation was this low, shoppers' baskets were overflowing with Swiss rolls, shell suits and tins of luncheon meat. Yum. Prices rose just 0.3 per cent in January, the latest ONS figures reveal, the lowest since records began, and even slower than the previous low of December. Back in 1989 when those records [...]
Greece in crisis: Inflation drop the biggest since November 2013 February 17, 2015 Interactive: Inflation rates in every EU economy Greece’s negotiations with the European establishment have collapsed and the country's inflation rate is going in the same direction. It hasn’t just crossed the threshold, it’s been in deflation for a while, but the drop in prices was steeper than expected: a 2.8 per cent reverse year-on-year represents [...]
Interactive: UK inflation hits 0.3 per cent, but how does it compare to other European Union countries? February 17, 2015 UK inflation slowed to 0.3 per cent in January, lower than December’s figure of 0.5 per cent and a good distance below the two per cent target for the Bank of England. More on this story: UK inflation falls to its lowest since records began But the UK is not alone in missing targets: the [...]