Federal Reserve ends cycle of cutting interest rates December 11, 2019 The US Federal Reserve left interest rates on hold today, bringing to an end the cutting cycle instigated in July. The decision came after a booming US jobs report on Friday showed that employment rose by its most in ten months in November. The Fed’s target interest rate will stay at between 1.5 and 1.75 [...]
Former Federal Reserve chairman Paul Volcker dies aged 92 December 9, 2019 Paul Volcker, the Federal Reserve chairman who slayed rampant US inflation in the 1970s and 1980s, has died aged 92. The towering figure of international finance passed away on Monday, his daughter told the New York Times. He had reportedly been suffering from prostate cancer. Read more: The economy is slowing – can central bankers [...]
German factory slump: Is the European powerhouse heading for recession? December 6, 2019 Germany has reported a “disastrous” fall in factory production, sparking fears the country could be dragged back towards recession. New figures from Germany’s work ministry revealed industrial output slumped 1.7 per cent month-on-month in October, well below analysts’ expectations and the quarterly average. On an annual basis, the figures marked the biggest drop in factory [...]
FTSE 100 swings into red after Donald Trump announces tariffs on Brazil and Argentina December 2, 2019 US President Donald Trump has said he will restore tariffs on steel and aluminium imports from Brazil and Argentina in the latest salvo of his global trade war. The President tweeted: “Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers. Therefore, effective immediately, I [...]
Are we witnessing the US dollar’s fall from grace? December 2, 2019 November’s multi-asset chart of the month highlights how a global shortage of US dollars could be reversing. This could signal the beginning of a weak phase for the currency. A world in which money is scarce might appear to be a far-fetched idea. But for US banks in the business of taking deposits and making [...]
UK house prices: Growth hits seven-month high November 28, 2019 UK house price growth ticked up this month, showing the strongest annual rise since April. However, annual house price growth remained below one per cent for the 12th month in a row at 0.8 per cent, reaching an average price of £215.734. House prices were up 0.5 per cent month-on-month, according to the latest Nationwide [...]
Fed chair Jay Powell foresees ‘sustained expansion’ for economy November 13, 2019 US Federal Reserve chairman Jay Powell has said he foresees a “sustained expansion” of the country’s economy, in a testimony to Congress a day after President Trump ripped into the central bank. However, Powell said if a downturn should occur then the government would need to fight it with fiscal policy. Yet he said this [...]
Donald Trump defends China trade war but says a deal ‘close’ November 12, 2019 US President Donald Trump has doubled down on his tariff war with China in a major speech, accusing the country of “ransacking” the American economy, but also saying phase one of a trade deal is “close”. Read more: China trade expo yields results as US deal hangs in balance Talking at the Economic Club of [...]
What now as monetary policy runs its course? November 12, 2019 The UK looks set to reverse the course of austerity with all parties planning to ramp-up spending as the reality of a huge Brexit upheaval puts the pressure on both the treasury and Bank of England. However, despite the recovery seen in the post-2008 world, we have seen little upside in terms of interest rates [...]
Red Star Belgrade 0-4 Tottenham: Spurs banish their demons with another rout of Serbian side November 6, 2019 Last month’s seven-goal thrashing by Bayern Munich suddenly feels a long time ago for Tottenham. Back-to-back Champions League wins over Red Star Belgrade with an aggregate score line of 9-0 has gone a long way to banishing the ghosts of Bayern, leaving Spurs four points clear of the Serbian side in Group B’s second place. [...]