By: Jake Cordell

I'm City A.M.'s economics reporter, looking at the news, stories and data that move markets in the UK, Europe and around the globe. I also cover broader developments in the business and political worlds at home and abroad.

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Financial markets wobble after ECB taper talk

October 5, 2016

European markets continued to be rattled by the fallout from reports the European Central Bank (ECB) has started planning how to end its money printing programme today. Borrowing costs across the Eurozone rose for the second day in a row as investors carried on digesting the possibility of a tightening of monetary policy from the Frankfurt-based ECB. [...]
US rate rise on the agenda as services sector storms ahead

October 5, 2016

A pre-election rate hike in the US is back on the cards after a stellar performance from the country's services firms in September. The sector, which makes up around two-thirds of the world's largest economy, grew at its fastest pace this year, according to the closely-watching ISM non-manufacturing purchasing managers' index (PMI). The PMI came [...]
Theresa May criticises Bank of England for making people poorer

October 5, 2016

Theresa May has come dangerously close to attacking the Bank of England in unprecedented comments on the tools it is using to support the economy during the aftermath of the financial crisis recession and the EU referendum. In her speech at the Conservative Party Conference today, May said: "While monetary policy with super-low interest rates and quantitative easing provided [...]
In quotes: Theresa May’s Conservative Party Conference speech

October 5, 2016

Theresa May has promised to reset the Conservative Party's relationship with capitalism, crack down on immigration and intervene in a host of "dysfunctional markets". In her speech to the Conservative Party Conference the new Prime Minister addressed everything from Brexit to grammar schools to corporate governance and focused on the theme of "change". Here are the key [...]
Theresa May resets government policy in flagship conference speech

October 5, 2016

Theresa May has promised to reset the Conservative Party's relationship with capitalism, free markets and business and stepped up her claims to be the representative of working-class Britain. The Prime Minister also threatened to intervene in "dysfunctional" markets, tackle failing competition in the utilities sector, press ahead with reforms to boardroom pay and crack down [...]
Eurozone speeds into slowdown with weak shop sales

October 5, 2016

The Eurozone ended summer with a stumble, new economic data has shown, as political concerns begin to weigh on the continent. Retail sales, one barometer for consumer confidence, dropped by 0.1 per cent in August, Eurostat confirmed this morning, while it also dealt a significant downgrade to the sector's performance in July. The body now [...]
Brexit recovery continues with robust services numbers

October 5, 2016

The post-referendum slowdown is set to be significantly better than first feared, vital services industry data out this morning has confirmed. The closely-watched purchasing managers' index (PMI) for the sector which accounts for three-quarters of the UK economy came in above expectations at 52.6 for September – solidly in the above-50 zone which signifies expansion. The [...]
About turn: Sterling regains losses against the dollar and euro

October 5, 2016

The pound has regained losses against both the dollar and the euro after it was whacked again in early trading this morning. Sterling slipped below the crucial $1.27 benchmark to set another three-decade trough against the greenback as the markets opened in London – before rebounding to $1.2726, down just 0.02 per cent. It was slower to make gains against the [...]
Bank of England slaps down moaning pension funds

October 5, 2016

The Bank of England has told pension funds to stop blaming low interest rates and quantitative easing for their measly returns and ballooning deficits. Ben Broadbent, deputy governor of the Bank with responsibility for monetary policy, said this morning that without the Bank’s swift rate-cutting action in both 2009 and more recently in the wake of [...]
Euro leaps on ECB quantitative easing tapering rumours

October 4, 2016

The euro has shot up in late afternoon trading on rumours the European Central Bank is considering proposals for how to taper its quantitative easing programme. The euro jumped from £0.8730 against the pound, which was already suffering amid Brexit speculation, to £0.8787 in a 0.5 per cent pounce. Against the dollar, the single currency recovered [...]

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