The Week Ahead: ITV, Rolls Royce, Morrison, ECB and UK GDP data March 8, 2021 It’s Monday morning. City A.M. looks ahead at what this week has in store. China Trade for February This morning – The Chinese economy finished 2020 on a strong note, its surplus hitting a record high in December. Exports rose by 18.1 per cent, slightly down from November’s 21.1 per cent but still better than expected, [...]
Negative interest rates remain a distant and unlikely prospect February 5, 2021 The BoE effectively gave the financial sector six months to prepare for thepossible use of negative rates, but that should be long enough for the UKeconomy to move into vaccine-fuelled recovery and remove the need forsuch an emergency move, which would also risk unintendedconsequences, according to Ian Williams, economics & strategy research analyst at Peel [...]
All eyes are on the Bank of England today February 4, 2021 Calm has been restored to equity markets as the violent swings that were witnessed due to the Reddit-retail investor mania have waned. Volatility in Gamestop – the stock at the centre of the saga – has cool greatly and that has in turn brought the temperature down in the markets. “Trader’s attention drifted back to [...]
Bank of England bosses reassess 2021 GDP and jobs numbers as UK economy faces ‘darkest hour’ January 12, 2021 Bank of England boss Andrew Bailey and his deputy Ben Broadbent have today both signalled the effects of the UK’s third Covid-19 lockdown. In separate speeches, Bailey and Broadbent spoke on the impact of the current nationwide lockdown, the furlough extension and consumer behaviour. The UK economy was facing its “darkest hour”, but Bailey also [...]
Bank of England can cut rates below zero, Saunders says December 4, 2020 By William James and William Schomberg LONDON (Reuters) – The Bank of England can probably cut interest rates slightly below zero, and it should be ready to pump more stimulus into the economy quickly if needed to recover from the coronavirus crisis or a Brexit hit, BoE policymaker Michael Saunders said. “In my view, there [...]
Exclusive: Andy Bell warns ‘we’ll all feel the pain of negative interest rates’ December 3, 2020 As the Bank of England mulls the introduction of negative interest rates AJ Bell’s chief executive has told City A.M. customers will suffer as a result. The central bank has already slashed interest rates to a record low of 0.1 per cent to support lending through the pandemic. “We’ve discussed how we’d deal and cope [...]
Gap between rich and poor grows despite jump in savings ratio November 16, 2020 The wealth gap between rich and poor people in the UK is widening as a result of the ongoing coronavirus pandemic and the ensuing lockdowns, according to an Oxford-based think tank. Research from the Centre for Enterprise, Markets and Ethics has found that a third of British people now have less than £1,500 in the bank, [...]
BoE brings forward rate decision ahead of Sunak’s statement on Covid support November 4, 2020 The Bank of England (BoE) has moved the announcement of its November interest rates decision forward to avoid it clashing with a statement on Covid-19 support from the chancellor. The Bank moved the announcement after Prime Minister Boris Johnson said Rishi Sunak would make a statement on the government’s coronavirus support measures to Parliament at [...]
Four things to watch as the Bank of England sets interest rates November 4, 2020 The Bank of England’s group of interest rate-setters will announce their latest monetary policy decision tomorrow, albeit virtually. Since the last meeting in September, the government has announced a new month-long lockdown for England amid soaring coronavirus cases. Most analysts expect the Bank to launch more stimulus to support the economy during the winter. Here [...]
Bank of England’s Haskel keeps door open to negative rates October 5, 2020 Bank of England (BoE) rate-setter Jonathan Haskel sees some possible benefits from cutting interest rates below zero, though it was too soon to reach a firm conclusion on this. The BoE, which cut interest rates to a record-low 0.1% in March, is now looking at whether it is technically feasible to cut its main interest [...]