BoE holds rates but November cut on the cards
The Bank of England’s Monetary Policy Committee unanimously voted to hold rates at 0.25% Thursday, but economists expect another rate cut will materialise in November.
Macro News
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CPI inflation remains ‘muted’ but input prices rise aggressively
Consumer price inflation was unchanged in August but economists warned we have yet to witness the full impact of sterling depreciation post-Brexit vote.
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ECB goes into holding pattern
The European Central Bank decided to stick rather than twist today as it announced the deposit rate has been held at -0.4%, the refinancing rate held at zero, and the details of its €80bn per month quantitative easing programme are unchanged.
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Pound climbs on strong services data release
The pound clawed back more of the ground lost following the referendum on European Union membership this morning after the release of strong services sector data.
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Underwhelming US jobs number reduces rate hike prospects
The latest United States employment data fell short of the average monthly gains in 2016, leaving many questioning the probability of an interest rate increase in September.
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Business confidence in Europe sees summer fall
Business confidence in the eurozone fell notably over the summer according to today’s update to the European Commission’s Business Climate Indicator.
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Yellen says case for rate hike has ‘strengthened’
Speaking at the annual Jackson Hole symposium, Federal Reserve Chair Janet Yellen said the solid performance of the United States labour market and current economic outlook mean the case for an increase in the federal funds rate has ‘strengthened in recent months.’
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US services sector subdued as Yellen readies speech
The United States’ services sector recorded its weakest rise in activity since February as Federal Reserve chair Janet Yellen puts the finishing touches to her Jackson Hole speech.
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Crude bull market depends on sentiment and Saudi delivery
The price of brent crude broke through $50 per barrel on Thursday afternoon prompting headlines writers to tout oil’s return to bull market territory.
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UK retailers defy doom-mongers to surprise on the upside
Retail sales in the United Kingdom rose 1.4% during July from levels recorded in June, confounding expectations of a drop-off.
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UK employment rise lifts pound again
Better than expected United Kingdom employment figures prompted the pound to regain slightly more of its post referendum lost ground this morning.
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Inflation uptick prompts rise in pound
Inflation in the United Kingdom ticked up to 0.6% in the year to July from 0.5% for June according to the Office for National Statistics, prompting a rise in the pound.