Carney sends pound lower and FTSE up with rate cut hint
Bank of England governor Mark Carney has indicated an interest rate cut and other new stimulus measures are on the cards.
Macro News
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Is gold starting to glitter again?
Pictet Asset Management is overweight gold as concerns grow over political risks and the US dollar, said chief strategist Luca Paolini.
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S&P downgrades UK sovereign credit to AA
S&P has downgraded the UK’s sovereign credit ratings on the back of the country’s decision to leave the European Union.
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UK real estate drop may be cushioned by monetary policy easing – Aviva
The drop in UK real estate value triggered by Brexit could be mitigated by easier monetary policy, said Chris Urwin of Aviva Investors.
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Pound hits new low despite Osborne’s intervention
George Osborne broke his silence on Monday in an attempt to soften the blow to sterling and calm markets, but the pound dropped against the dollar to a fresh 31-year low of $1.3218 in morning trade.
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Brexit stokes pension fears and uncertainty among expats
British expats living overseas face a period of uncertainty around retirement plans after the UK’s shocking decision to leave the European Union on Friday, according to IFA firms around the world.
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How Brexit will hit offshore financial centres
The UK narrowly voted on Thursday (52:48) to leave the European Union, an unprecedented move with an unclear outcome. What follows will undoubtedly be at least two years of uncertainty, but how will the offshore financial centres fare?
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Large Remain bets wrong-footed bookies and investors
Last week Portfolio Adviser suggested that the bookmakers’ odds strongly favouring a British vote to stay in the EU were not as reliable as many fund managers thought. And right we were…
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‘No renegotiation’ promises EU leadership
In a joint statement on Friday, the EU leadership urged the UK to start departure processes immediately as “any delay would unnecessarily prolong uncertainty”.
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Carney reassures markets as banks tumble
As banking stocks plummeted on Friday morning, Bank of England governor, Mark Carney sought to remind the market that they are in good health and reassure investors the BoE stands ready to do whatever is needed.
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Pressure builds on RMB after Brexit
China’s yuan as well as regional currencies are likely to see selling pressure, according to analysts who opined on the outcome of today’s vote.
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Investors should brace themselves regardless of Brexit vote result – UBS
An “acrimonious” Brexit is likely to lead to Bank of England rate cuts, flailing FTSE indices and fall in consumer confidence, according to head of UK Investment Office at UBS Wealth Management, Bill O’Neill, and UK economist at UBS Investment Bank, David Tinsley.