The Bank of England will almost certainly hike rates in May February 14, 2018 The question of the next rise in UK interest rates has shifted definitively from if to when. Last week an uncharacteristically hawkish press conference by the Bank of England Governor Mark Carney left the markets in little doubt that it could come as early as May. At the start of the week the probability of [...]
Inflation stays at three per cent despite expectations of a dip February 13, 2018 Consumer price inflation (CPI) remained at three per cent in January, unchanged from the month before, according to the Office for National Statistics (ONS). CPI is the rate at which the prices of goods and services bought by households rise or fall. CPI including owner occupiers’ housing costs was 2.7 per cent, also unchanged month-on-month. [...]
How will Mark Carney respond to the FTSE 100 sell-off? The shadow MPC votes to hold as market bets on May hike pull back February 7, 2018 Markets have dialled back their bets on a May rate hike from the Bank of England after the massive market sell-off at the start of the week, with Mark Carney due to make his first public statements since the turmoil tomorrow. Investors are currently pricing in a 37 per cent probability of a rate hike [...]
Leisure spending to hold up in 2018 but fails to give boost to struggling eating out industry February 6, 2018 Leisure spending will hold up in the UK this year as millennials flock to the pub. Consumers reported that they expected to spend more on enjoying themselves in 2018, according to Deloitte’s quarterly survey. Spending held up in the final quarter of 2017, especially amongst millennials who drove a resurgence in spending at pubs and [...]
Inflation hit costs British households £24bn in 2017 January 15, 2018 The rising tide of inflation has cost British households an extra £24bn in 2017, with commuters suffering the most, new analysis to be published today will reveal. The increase in inflation seen from 2016 to 2017 cost Britons more than £900 per household, according to Simon-Kucher and Partners, a consultancy. The rise in transport prices [...]
Increasing prices will hurt the retail sector in 2018, according to this think tank December 28, 2017 The retail sector will “flatline at best” next year, according to predictions issued by the KPMG/Ipsos Retail Think Tank (RTT). The group made its lacklustre forecast based on a combination of “continued headwinds in the form of geopolitical and macroeconomic obstacles; an increased number of regulatory compliance issues and ongoing structural change within the industry”. [...]
Bitcoin bubble grows as banks fall flat December 1, 2017 Bitcoin continues to defy expectation. It recently reached and passed a milestone, that of the $10,000 mark, an incredible feat considering it was worth less than £1,000 at the start of 2017. Nobody can quite agree as to why it’s so strong, but a parallel to its soar in value is its huge popularity in [...]
Manufacturing output rises again to hit 30-year high on UK order books November 21, 2017 Manufacturing order books have filled up to the strongest level for nearly 30 years. Total orders in the three months to November were the strongest since August 1988, according to the CBI. Meanwhile export order books were at the joint highest for more than 20 years. Anna Leach, the CBI’s head of economic intelligence, said: [...]
Venezuela is in default says influential ratings agency S&P Global November 14, 2017 The Venezuelan state is technically in default, in a development which threatens to compound the unfolding economic disaster in the country, according to an influential ratings agency. The South American nation failed to make $200m (£153m) in coupon payments for its global bonds due in 2019 and 2024 within a 30-day grace period, according to [...]
Fears of a nightmare before Christmas for UK retailers as footfall and spending dip November 13, 2017 Retail analysts fear a nightmare before Christmas for British shops as figures published today show weakness ahead of the crucial holiday spending spree. Footfall in UK retailers fell by two per cent year-on-year in October, according to figures from the British Retail Consortium (BRC) and Springboard. The decline in the number of shop visits was [...]