UK inflation: Pound hits seven-week high as inflation unexpectedly hits 0.1 per cent in July August 18, 2015 The pound hit a seven-week high against the greenback this morning as investors cheered a better-than-expected inflation figure. Official data showed the consumer price index rose 0.1 per cent in the year to July, from zero a month earlier, beating economists' expectations for no change. Nevertheless inflation still remains well below the Bank of England's target [...]
UK inflation: Business groups IoD and BCC split over when BoE should raise rates August 18, 2015 Two of Britain's biggest business groups have clashed over when the Bank of England (BoE) should raise interest rates, after today's inflation data. Official data released this morning showed inflation unexpectedly rose 0.1 per cent in the year to July. But this remains well below the BoE's target for two per cent. At the same [...]
With just one member voting for a rate rise, is the Bank of England MPC right to be so dovish? August 6, 2015 Nina Skero is an economist at the Centre for Economics and Business Research, says Yes Given the absence of inflationary pressure in the UK, and the pound’s current strength against most major currencies other than the dollar, holding the base rate steady at 0.5 per cent is a sound decision. Inflation continues to hover around [...]
Bank of England’s Ian McCafferty says interest rates could rise this year “data dependent” August 5, 2015 The Bank of England's Ian McCafferty reportedly said interest rates could rise before the end of this year depending on the strength of future economic data. "Financial markets still believe that an interest rate rise is unlikely until May or June next year, and economists suggest February or March," The Courier said he told the Dundee [...]
Bank of England braced for historic Super Thursday – London Report August 2, 2015 THIS WEEK includes s-called Super Thursday when the Bank of England’s policy announcement, meeting minutes from the monetary policy committee and the latest Inflation Report will – for the first time – all be released simultaneously. HSBC gets the week off with a bang today with interim results, Standard Life tomorrow and Legal & General [...]
Eurozone inflation holds steady at 0.2 per cent in July July 31, 2015 The Eurozone's annual inflation rate held steady at 0.2 per cent in the year to July, unchanged from the previous month, a flash estimate by Eurostat showed today. Nevertheless inflation remains well below the European Central Bank's (ECB) target of just under two per cent, meaning there's still plenty of work for the ECB's €60bn a [...]
Wall St up as Fed holds rates – New York Report July 29, 2015 US STOCKS finished stronger yesterday after the US Federal Reserve said the economy and job market continued to strengthen and left its key interest rate unchanged. The central bank’s comments on the economy and inflation after its two-day pow-wow appeared to do little to drastically change wide expectations that the first rate hike will come [...]
Pound falls after UK retail sales in June disappoint July 23, 2015 The pound fell 0.12 per cent against the dollar to $1.5595 after British retail sales unexpectedly tumbled in June amid broad-based declines in sales of food, household goods and petrol. Data released today by the Office for National Statistics (ONS) showed retail sales fell 0.2 per cent in June, down from 0.2 per cent growth a [...]
Make Marston’s a large one as food and drink sales progress July 22, 2015 Brewers and pub group Marston’s yesterday announced it had made “profitable progress” in line with expectations for the 41-week period to 18 July. “In Destination and Premium [brand units], like-for-like sales for the 41-week period were 1.7 per cent ahead of last year, including like-for-like food sales growth of 1.6 per cent and like-for-like wet sales [...]
Restaurant review: Be prepared to shell out for Crab Tavern July 21, 2015 Crab Tavern is the tenth restaurant to open at the City’s newest dining destination, Broadgate Circle. It’s now overflowing with the kind of high-end, high-turnover gastro-chains that private equity guys go nuts for: opening branches in the City completes a perfect capitalist ouroboros in which we can literally get rich off of our own appetites. [...]