Bank of England officials make “material step forward” in debate around central bank cryptocurrencies to rival bitcoin and ethereum May 29, 2018 Bank of England officials today said they had made a “material step forward” which could potentially address one of the major risks of central banks issuing their own digital currencies. Officials from the Bank today published a blog laying the groundwork for a central bank cryptocurrency which would not cause runs on commercial banks, in [...]
Pound sterling (GBP) drops to five-month low after UK GDP slumps May 25, 2018 The pound eased in afternoon trading today, following a disappointing second estimate of first-quarter GDP growth from the Office for National Statistics (ONS). Sterling was down 0.31 per cent to trade at $1.3339 against the dollar, its lowest level since mid-December last year. Read more: UK GDP: Economy suffers worst rate of growth in six [...]
UK GDP: Economy suffers worst rate of growth in six years May 25, 2018 The UK’s economy grew at the worst rate since 2012, figures out this morning show. GDP grew by just 0.1 per cent in the first quarter of the year, according to the second, unrevised, estimate put out by the Office for National Statistics. And once you adjust for population changes, the figures are even worse: [...]
Late May bank holiday weather: London temperatures to reach high 20s – but thunderstorms loom May 25, 2018 Mixed weather news for all those planning to stay in the capital for the long weekend: London could be one of the warmest parts of the country, but might also suffer from a thunderstorm or two. Temperatures are expected to heat up over the next few days, peaking at 28°C on Monday, according to the [...]
UK inflation dips to 13-Month low in April, adding to Mark Carney’s interest rate puzzle May 23, 2018 Inflation in the UK dropped to its lowest levels since March 2017 last month, according to the latest figures from the Office for National Statistics (ONS). Consumer price inflation cooled to 2.4 percent in April, down from 2.5 percent this March. The drop in consumer prices has once again dampened expectations of a Bank of [...]
Brexit has cost UK households £900 each – “which is a lot of money,” says Bank of England governor Mark Carney May 22, 2018 Households are £900 worse off since the Brexit vote, Bank of England governor Mark Carney has claimed. Despite global and European economies being “much, much stronger” than they were when the Bank made its economic predictions ahead of the 2016 referendum, and a “very large stimulus provided by the Bank of England”, the UK’s economy [...]
A rising dollar is positive for US small capitalisation shares May 21, 2018 The dollar has started to rise following a period of weakness. This is positive for dollar dividend payers and US smaller companies. Movements in the dollar can have a significant impact on your investments. This is especially true for investors based in the UK, as many of Britain’s largest companies are significant foreign currency earners [...]
Last Week in the City: England has an 8.5% chance of winning the World Cup May 18, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (14 to 18 May 2018). UBS has used its City analysts’ predictive firepower to try and work out the winner of the upcoming World Cup in Russia – and England came surprisingly high in its league [...]
FTSE 100 hits record high on oil price, dollar strength, and lack of interest rates rise May 17, 2018 The FTSE 100 closed at a record high this afternoon, beating a previous record set in January. The index hit 7,787 points, surpassing a high of 7,778 set on 12 January of this year. “The death of the bull market has been greatly exaggerated, not for the first time in recent history,” commented Laith Khalaf, [...]
Bank of England deputy governor Ben Broadbent apologises for referring to ‘menopausal’ UK economy past its peak May 16, 2018 Bank of England deputy governor Ben Broadbent has apologised for using the term “menopausal” to describe the UK economy. In a statement released this morning, he said: I’m sorry for my poor choice of language in an interview with the Telegraph yesterday and regret the offence caused. I was explaining the meaning of the word [...]