After a week full of significant UK releases including inflation, the Budget and the MPC Monthly minutes it was the turn of retail sales to make the headlines and for all the right reasons. A gloomier than expected 0.8% decline in sales was announced with consensus forecasts only expecting a 0.6% fall – which isn’t [...]
Friday’s downward revision of Q4 GDP from a 0.5% to a 0.6% contraction adds yet another headache for the Bank of England’s MPC – as it walks the fine line between controlling inflation and supporting growth. These figures may make policymakers think twice about raising interest rates in the near term, with the recent release [...]
Yesterday was a relatively quiet day in the currency markets with the US holiday meaning volumes were low and currency pairs were trading in narrow ranges.
In economic releases today we have the UK public borrowing figures, which in recent times have had the people at HM Treasury shaking in their boots. Today however could bring [...]
Having subtly hinted in his letter to the chancellor on Tuesday that rate increases this year are very much on the horizon as the market expects, Mervin King spent yesterday’s Quarterly Inflation Report news conference largely unwinding this expectation, again reverting to the more dovish line he has toed consistently for the last two years. [...]