GDP rebound strengthens case for UK rate hike
UK GDP is estimated to have grown 0.7% in the second quarter the Office for National Statistics said on Tuesday, up from 0.4% reported for Q1.
Macro News
-
-
Bank of England getting nervous about inflation
The Bank of England monetary policy committee is getting more concerned about the possibility of inflation coming through into the British economy, minutes from the July meeting revealed today.
-
Asian exports flash amber for Fed hike hawks
The recent fall in Asian exports should raise a few alarm bells for market watchers, say UBS economists Joshua McCullum and Gianluca Moretti.
-
Fund selectors shift preference to large caps
Fund selectors in Europe have changed tack. A year ago they were strongly in favour of small caps, but now they believe it’s large caps that have the better return prospects, according to data gathered at EIE events across Europe this year.
-
China’s Q2 growth fails to impress
China beat market expectations with a 7% year-on-year growth for the second quarter. But in the second half, fund houses are concerned about the financial sector.
-
UK interest rate rise due in November but it should be August – F&C
The first UK interest rate rise is likely to arrive in November, says F&C’s Steven Bell, but cannot come soon enough.
-
Soft numbers further muddy UK rate rise waters
Softer than expected unemployment and wage growth numbers have further muddied the waters in terms of forecasting when the Bank of England will raise interest rates.
-
China GDP climb does little to reassure investors
China’s second quarter annualised gross domestic product figure of 7% beat expectations of 6.8% but it has done little to increase investor confidence in the world’s most populated country.
-
Inflation creeps back down to quieten hawks
Consumer price inflation in the United Kingdom crept down a fraction in June to hit flat zero from 0.1%, according to the Office for National Statistics.
-
European equities jump as Greece deal nears
The leading European equities indices have jumped this morning as reports emerge indicating a deal has been reached to offer Greece a new bailout and keep it in the eurozone.
-
Chinese equity rout slows but at what cost?
Chinese markets rose on Thursday, bringing relief from the frenzied selling that had characterised markets over the past few days and hope that the authorities increasingly heavy-handed measures to stop the rout had finally begun to work.
-
‘Radical’ budget a double edged sword for business
Consensus is that George Osborne’s first majority budget was a radical one, announcing, among other things new dividend allowances, the abolishment of ‘non-dom’ status and £12bn in welfare cuts. For business, however, it seems it was something of a mixed bag.
