The Euro is subdued against the dollar and sterling this morning as the sovereign debt crisis again raises its head. Yesterday the German finance minister admitted that Greek debt may need to be restructured, despite last year’s £97bn bail out. The reason for this restructuring is that the Greek government must now pay 13% interest [...]
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 [...]
Well who would want to be an MPC member right now? This morning, Ed Balls is cited in the press criticising King’s effective endorsement of the coalition’s austerity measures, they have critics claiming inflation is out of control and even a member of the MPC committee, Andrew Sentence, effectively saying policy has been wrong and [...]
The minutes of the last MPC meeting, released yesterday morning, show that the central banks’ policy committee voted unanimously to leave UK interest rates on hold at 0.50% this month (having been at this level for over a year now)