Why a Bank of England interest rate cut looks increasingly likely January 15, 2020 Just a week ago, investors rated the chances that the Bank of England would cut interest rates at about five per cent. Today, they think there is a 60 per cent chance that the main rate will be lowered from 0.75 per cent, according to CME Group’s tool which analyses futures prices. So what has [...]
Expectations of BoE rate cut rise after UK inflation falls to three-year low January 15, 2020 Sterling fell on Wednesday after data showed UK inflation unexpectedly slipped to a three-year low during December, ramping up expectations that the Bank of England (BoE) will cut interest rates later this month. The consumer price index (CPI) rose 1.3 per cent last month compared to a year earlier — the weakest level since November [...]
Bank of England policymaker maintains interest rate cut view January 15, 2020 Bank of England (BoE) policymaker Michael Saunders has said he is sticking to his view that interest rates should be cut because of weaknesses in the UK’s labour market and wider economy. “It probably will be appropriate to maintain an expansionary monetary policy stance and possibly to cut rates further, in order to reduce risks [...]
Why Larry Fink is right to hail the great reallocation January 15, 2020 When you manage over $7 trillion your investment decisions don’t just move markets, they shape them. Blackrock’s Larry Fink understands this and his annual letter to CEOs tends to set out his big-picture thoughts on what companies and boards ought to be thinking about – and what they ought to be doing. His 2018 letter [...]
World’s richest football clubs 2020: Barcelona replace Real Madrid at top of Deloitte Football Money League as Manchester United are left behind January 14, 2020 Barcelona have overtaken Real Madrid to become the world’s richest football club, according to Deloitte’s Football Money League. The Spanish champions saw revenue soar to €840.8m (£741.1m) last year – a record figure for any team and almost 10 per cent more than rivals Real Madrid, who are second. Manchester United, in third, remain the [...]
UK development secretary launches Kenya’s first green bond January 13, 2020 The UK’s international development secretary Alok Sharma this morning launched east Africa’s first “green bond” on the Kenyan securities exchange – a product developed with the help of the City and British aid. The bond will help Acorn Housing raise local currency to build environmentally-friendly houses for students in Nairobi, Kenya’s capital. Read more: Mark [...]
UK GDP: Pound slips on unexpectedly weak growth figures January 13, 2020 Sterling has slipped following news that the economy shrank unexpectedly in November, extending earlier losses against the dollar. The UK’s gross domestic product (GDP) contracted 0.3 per cent during the month as the manufacturing and production sectors declined more than expected. The figure was expected to be flat. Read more: Sterling sinks below $1.30 as [...]
Sterling sinks below $1.30 as hints of interest rate cut grow January 13, 2020 Sterling has fallen below $1.30 as traders expect the Bank of England to slash interest rates if the UK economy underperforms. The pound tumbled in early trading, sinking 0.5 per cent from $1.3044 to $1.2996 this morning before the release of UK GDP data. Read more: Carney rate cut comment sends pound crashing to two-week [...]
Increasing capital: London economy pulls away from rest of UK in December January 13, 2020 London’s economic performance was “head and shoulders” above the rest of the country in December, survey data has shown, while the capital’s businesses were cheered by the emergence of some political certainty. London was the only British region where output grew in December, with firms hiring at the fastest rate since July, the data from [...]
Almost half of UK firms predict 2020 recession January 13, 2020 Just less than half of UK firms think the country will go into recession this year, a new survey has shown, despite evidence of a rise in business confidence following December’s General Election. British firms cited increased geopolitical tensions such as trade tariffs, Brexit and regional instability as the number one risk to businesses in [...]