European Central Bank holds all rates September 5, 2013 The European Central Bank (ECB) has elected to hold all rates. That's not unexpected. We'll bring you the news from ECB president Mario Draghi's presser later, at 13:30.
Bank of England keeps rates at historic lows despite strong signals of recovery September 5, 2013 The Bank of England has maintained interest rates at their historic lows despite strong signs of a broad based economic recovery. Data released yesterday showed the service sector growing at the fastest pace since 2006. More details and analysis on the live blog.
Forward guidance sees Carney anchor rates despite recovery September 5, 2013 The Bank of England has announced that rates have been held despite an improving economic picture. Rates have been maintained at their historic lows of 0.5 per cent despite new data showing that the UK's services industry grew at the fastest rate since 2006 last month. That is the latest in a string of datapoints [...]
Lloyds sale could be delayed by Syrian crisis and threat of Fed tapering September 5, 2013 The sale of the government's 39 per cent stake in Lloyds may be delayed by Syrian turmoil and potential tapering by the US Federal Reserve, as the reprivatisation remains conditional on market performance. Any intervention in Syria is likely to act as a shock to aggregate supply, with consequences for oil prices, and foreign policy [...]
German factory order growth drops way faster than expected September 5, 2013 Germany factory orders have dropped by 2.6 per cent July, from five per cent growth last month (revised from 3.8 per cent). Analysts had forecast a one per cent fall in orders this month. While the upwards revisions to the last are a positive, that makes for a much bigger drop than expected. Domestic orders [...]
Car registrations up for 18th month ahead of September plate change September 5, 2013 Car registrations are up for the 18th successive month in the UK, according to new data from the SMMT, as the car market grows 10.9 per cent in August. There were only 65,937 vehicles registered this month, as buyers prepare for the plate change in September. That month will typically account for 17 per cent [...]
Dijsselbloem says Greece may need more help September 5, 2013 Eurogroup chairman Jeroen Dijsselbloem has said that Greece may require further help. Dijsselbloem said that he was not going to talk about a new loan, and that debt relief wouldn't be considered by the Eurogroup beofore April 2014. It is clear that despite recent progress, Greece's troubles will not have been resolved by 2014. The [...]
Bank of Japan’s Kuroda puts pressure on PM to increase sales tax September 5, 2013 Bank of Japan governor Haruhiko Kuroda has continued to put pressure on prime minister Shinzo Abe to increase consumption tax, pledging to support the economy with monetary tools. Kuroda said that the Bank of Japan can step in if the tax were to hit growth. Japan is one of the world's most indebted nations, and [...]
German construction sector pace of growth at March 2012 high September 5, 2013 Germany's construction sector is now growing at the fastest pace seen since March 2012, according to new data from Markit. The sector purchasing managers' index has risen to 55.1 in August, signalling higher growth from last month's figure of 51.5. Phil Smith, economist at Markit said: A solid and accelerated increase in construction activity was [...]
Central bank decision day: Carney will sit tight, but could Draghi be a dove? September 5, 2013 Kit Juckes, Societe Generale: If you take history as a guide you could be drawn into simple US and European monetary policy conclusions: Sustained policy de-coupling has n ever happened, Fed rates reach lower lows, UK rates usually reach higher highs and the ECB lags the others. Markets are pricing in a faster pace of [...]
