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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The non-Brexit bits from the Bank of England and the International Monetary Fund

May 13, 2016

You may have noticed, there have been some pretty stark warnings about what Brexit could do to the UK economy this week. Both the International Monetary Fund (IMF) and the Bank of England waded into the debate arguing that a vote to leave the EU could trigger a recession. Cue outrage from Leave campaigners. But [...]
Lord Lamont hits out at both Mark Carney and Christine Lagarde in just two days

May 13, 2016

Lord Lamont has slammed what he sees as the "avalanche of institutional propaganda" which has been flung about in the EU referendum debate this week. In his second blistering attack this week, the former chancellor who served in the governments of Margaret Thatcher and John Major, has taken aim at the International Monetary Fund (IMF) for its [...]
Ignore the costumes, the Eurovision Song Contest is serious business

May 13, 2016

Eurovision isn’t all fun. It’s serious business, too. SVT, Sweden’s national broadcaster has set aside a budget of £11m for this year’s show. But the cost of Eurovision has been larger-still for some countries. Vienna, last year’s hosts, spent £28m while the Baku extravaganza of 2012 cost an eye-popping £48m. Even participating can be prohibitively [...]
Employment minister Priti Patel has launched a stinging attack on Osborne and Lagarde following Brexit recession warnings

May 13, 2016

One of George Osborne's cabinet colleagues has accused the chancellor of "cashing in favours" from the International Monetary Fund (IMF) over its warning that Brexit could trigger a recession. Priti Patel, the employment minister, who used to work in the Treasury with Osborne, said: "The EU-funded IMF should not interfere in our democratic debate … It appears [...]
IMF Brexit analysis will be published just days before the EU referendum

May 13, 2016

The International Monetary Fund (IMF) will publish a full assessment of how Brexit will affect the UK economy less than one week before Brits go to the polls on 23 June. While issuing a stark warning that a vote to leave the EU could trigger a recession – the second in two days after Mark Carney's [...]
IMF head Christine Lagarde backs up Mark Carney in battle over a Brexit recession

May 13, 2016

Brexit could push the UK into recession, hit wages, lead to higher prices and shatter London's status as the financial capital of the world, Christine Lagarde, head of International Monetary Fund (IMF) has said today, in the second high-profile Brexit warning in as many days. With less than six weeks to go until the EU referendum, – described [...]
Germany records strongest GDP growth for two years, but remains in deflation

May 13, 2016

Germany confirmed its status as the powerhouse of Europe in the first quarter, as its economy grew by a mighty 0.7 per cent in the first three months of the year. The German statistics agency this morning confirmed that stronger domestic demand, buoyed by higher levels of employment, helped Europe's largest economy to more than double its rate [...]
Europe postpones publication of 2017 draft budget as Brexit vote nears

May 12, 2016

The European Union has pushed back the publication of its draft budget for 2017 – potentially until after the UK holds its referendum on whether to remain a member of the EU. The Budget was originally scheduled to be published on 25 May, but Politico reported this afternoon that it was now not likely to surface until [...]
Former chancellor says Carney’s Brexit intervention could trigger an economic crisis

May 12, 2016

Former chancellor of the exchequer Lord Lamont has warned Mark Carney that his Brexit warnings could spark an economic crisis. The Conservative politician, who is now part of the official campaign group, Vote Leave, said the governor of the Bank of England should choose his words more carefully as he dismissed Carney's claims that Brexit was the most significant risk [...]
Carney’s warning of a Brexit recession sparks war of words between Threadneedle Street and former Chancellor

May 12, 2016

The Bank of England has warned that leaving the European Union could trigger a recession, lead to a jump in inflation, higher unemployment and a “sharp” depreciation in the value of sterling. Threadneedle Street issued its most hard-hitting analysis of the likely effect of Brexit in the final Super Thursday before the referendum on 23 June, [...]

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By: Jake Cordell

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