Markets brace for the latest Bank of England interest rate decision May 1, 2018 Following a decade without so much as a hint of a rate rise, expectations are high for the UK’s second increase in just seven months. Most economists expect the Bank of England to raise the base rate to 0.75 per cent this month, up from the current 0.5 per cent. The UK’s economic picture is [...]
Buoyed by Sainsbury’s and BP gains, London’s FTSE 100 continues its rallying march May 1, 2018 The FTSE 100 is continuing its strong performance today, inching past yesterday’s 7545 highs to 7549 and extending its 10 per cent late-March reversal into May. The slip in sterling as well as a drop in UK manufacturing activity have helped buoy the London market, as have Sainsbury’s shares which have continued to rally in [...]
Sterling falls after UK manufacturing growth continues to slow slashing likelihood of a May rate hike (USDGDP) May 1, 2018 UK manufacturing growth continued to slow in the second quarter, with the seasonally adjusted IHS Markit/CIPS purchasing managers’ index dropping to a 17-month low of 53.9 in April, down from 54.9 in March. Anything above 50 indicates expansion, and the PMI has signalled expansion in each of the past 21 months, but the reading was [...]
Consumer confidence rises to 14-month high to add to puzzle for Bank of England April 30, 2018 Consumer confidence reached its highest since January 2017 for April according to data to be published today, with economists pointing to rising real wages behind the improvement. The headline confidence index from Yougov and the Centre for Economics and Business Research (CEBR) increased by 2.2 points to hit 109.8, above the 100 mark which indicates [...]
Bank of England is teaming up with the European Central Bank on financial services protection from Brexit risks April 27, 2018 The Bank of England and the European Central Bank are teaming up for work on protecting the financial services industry from Brexit risks. The European Commission and the Treasury have asked the two to set up a “technical working group” on risk management in the period around 30 March 2019. It will be chaired by [...]
The City reacts to sharp UK GDP slowdown saying the chances of a May interest rate rise are slim to none April 27, 2018 The big news of this morning with the UK economy growing more slowly than expected during the first quarter sent the pound falling as attention turned to the prospects of a May rate rise. GDP grew by 0.1 per cent during the first three months of the year, down from 0.4 per cent in the [...]
TSB boss Paul Pester promises compensation over online banking meltdown April 24, 2018 TSB has taken down its online banking systems with its boss today issuing a fresh apology to customers and a promise to compensate those affected. The Financial Conduct Authority (FCA) this evening pledged to investigate TSB’s problems while monitoring the situation to ensure members of the public “are not left out of pocket”. TSB’s mobile [...]
Amid rising incomes, fewer Brits expect rate rise from Bank of England April 23, 2018 British households reported the strongest increase in workplace activity in nearly two years, while incomes have risen at an elevated pace for the second month running, according to the latest data from the IHS Markit Household Finance Index. However, despite the positive figures, UK households remained pessimistic towards financial conditions in the year ahead, according [...]
Markets are expecting 84% UK interest rate rise in May, BofE Governor Mark Carney threw spanner in the works suggesting they won’t rise after all April 23, 2018 The Bank of England’s long-running “will they, won’t they” saga took an interesting and somewhat unexpected turn last week. With markets pencilling in an 84 per cent likelihood of a UK interest rate hike in May, the Bank’s Governor Mark Carney decided to throw a spanner in the works by suggesting that rates may not [...]
Meet the crusader who is trying to convince the world that cryptocurrency is necessary April 23, 2018 Charles Hoskinson is a peculiar protagonist for a revolution. The American does not look much upon introductions. When one envisions a billionaire, an image not dissimilar to a sharp-suited Gordon Gekko of Wall Street ordinarily springs to mind. In Hoskinson’s case, he seems positively the opposite. Softly spoken and unshaven, he wanders to our interview [...]