Weekly outlook: UK inflation plus Andrew Bailey fronts up at FCA public meeting

The key events for UK wealth managers for the week starting 15 July

Photo by Manuele Sangalli on Unsplash

Monday 15 July

– Polar Capital Technology Trust final results

Tuesday 16 July

– UK employment figures for May 2019

Wages grew by 3.4% year-on-year excluding bonuses and 3.1% including them, roughly 10-year highs on both counts, according to AJ Bell.

– US retail sales data

Wednesday 17 July

–  FCA public meeting
Chief executive Andrew Bailey will front up for the annual public meeting following a year during which the regulator has been tarred by several consumer scandals, including the Woodford Equity Income fund suspension.

– MPs grill the next chair of the Financial Reporting Committee
Former Glaxosmithkline CFO and Goldman Sachs banker Simon Dingemans is due to become of the chair of the auditing watchdog – a potentially unenviable task in light of accounting scandals at Carillion and Patisserie Valerie. On Wednesday, he will be grilled before MPs in the Business, Energy and Industrial Strategy select committee

– UK inflation for June 2019

In May the consumer price index came “smack on the Bank of England’s 2.0% target”, which means wages are rising faster than the cost of living, says AJ Bell investment director Russ Mould.

“This is a trend that could be good for consumers, bad for company profit margins and a source of concern for the Bank of England, which is talking about cutting interest rates, depending upon how Brexit plays out, even when this sort of data would normally have had the Old Lady of Threadneedle Street tightening monetary policy and not loosening it.”

Source: Office for National Statistics

Thursday 18 July

– Bank of England credit conditions report

Friday 19 July

  • Close Brothers Group trading update

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