We got a dog to forecast the US jobs report and this is what happened June 6, 2014 The monthly US job report is notoriously difficult to forecast, and methodologies for estimating the number of jobs added each month vary widely. But we think we have the best. This month we're joined by 10-year old labrador Barney, who has worked hard to predict the fortune of the US labour market in the month [...]
London house price danger flagged by IMF review June 6, 2014 The UK's government has this morning received a far more glowing appraisal from the International Monetary Fund (IMF) than it has become used to. The supranational organisation has delivered its Article IV mission findings, noting that the UK's economy "has rebounded strongly and growth is becoming more balanced". Among its other points, the IMF lists [...]
European Central Bank stimulus package still leaves it with the G10’s tightest monetary policy June 6, 2014 You might think from reading about the European Central Bank's (ECB) stimulus package that it's a complete game changer, but analysts at Bank of America Merrill Lynch (BoAML) beg to differ. ECB president Mario Draghi unveiled a punchy package of five measures: cuts to two key interest rates, and three other policy devices aimed at [...]
The European Central Bank just announced three new measures to boost lending. Here’s how they’ll work June 5, 2014 On top of the two policy changes announced earlier, the European Central Bank (ECB) is introducing a few more measures to prop up the ailing currency area. We've already heard, from an official statement, that the central bank is cutting its refinancing and deposit rates, taking the latter into negative territory. During a press conference, [...]
The European Central Bank just unveiled its plan to save the Eurozone. Here’s what you need to know June 5, 2014 Two years after his oft-repeated "whatever it takes" speech, European Central Bank (ECB) president Mario Draghi has finally pulled the trigger. Digging deep into the central bank's arsenal, Draghi has picked out the weapons deemed most suitable to what is now moving from a disinflationary crisis to what could be a deflationary one. Inflation in [...]
Bank of England holds policy as investors await afternoon’s ECB statement June 5, 2014 They're still twiddling their thumbs over at the Bank of England. Policy has been left unchanged, with interest rates at their historic lows of 0.5 per cent, and asset purchases maintained at £375bn. No surprises there, with analysts widely forecasting we'd see nothing changed today. Minutes of the Monetary Policy Committee's last meeting revealed that [...]
The Shard evacuated after reports of smoke in building’s basement June 5, 2014 London's iconic Shard skyscraper has been evacuated after reports of smoke. The London Fire Brigade says that firefighters have been investigating the reports of smoke in the basement of the building. Smoke without fire perhaps, as the fire brigade's statement says that "there is no suggestion at this stage that there is a fire". So [...]
Car market sees longest growth streak of all time June 5, 2014 Car registrations have had another cracking month, as the industry motors on to its 27th consecutive month of growth, according to new figures from the Society of Motor Manufacturers and Traders (SMMT). That winning streak for the car industry breaks its previous record, set in the late 1980s. In May alone car registrations increased by [...]
Retailer share prices are crashing. Here’s what you need to know about the sell-off June 5, 2014 An unexpected profit warning from online retailer Asos has investors very worried about the health of the sector generally. Asos shares opened more than 40 per cent lower after it announced that it had been forced to slash its full-year profit margin guidance. The key paragraph comes from CEO Nick Robertson: The resultant higher mix [...]
House prices rise five times faster than expected June 5, 2014 House prices rose by 3.9 per cent in May, according to data from Halifax. Analysts had been expecting prices to rise by just 0.7 per cent this month. IHS Global Insight's Howard Archer says the increase "is a real bolt from the blue and at face value unsettling for policymakers." Values in the three months [...]
