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Bank of England Monetary Policy Committee member Dhingra stated that many “tightening effects” are still to take hold and over tightening monetary policy poses more risk at this point, adding that a prudent policy would be to hold rates steady. The stance was unsurprising given that she has voted against…
The Bank of England’s Monetary Policy Committee member Catherine Mann expressed her concern about the persistence of core inflation and that more needs to be done with interest rates. She added that there could be more Sterling depreciation if hawkish messages from the Federal Reserve and ECB are not yet…
The UK PMI construction index strengthened to a 9-month high in February, business confidence recovered from December’s lows, supply-side difficulties eased, and upward pressure on costs declined to the lowest level since November 2020. Despite the data triggering a slightly more positive assessment of the economy the Pound still struggled…
The pandemic did however bring this model to a significant standstill, as many employees relocated back home during Covid or found themselves looking for new roles as global economies were weakened and businesses folded. The required adaptation due to the pandemic has given birth to much greater location flexibility making…
Friday saw Sterling move back above the 1.2000 level against the dollar and 1.1300 against the Euro. UK services PMI index was revised slightly higher as new orders grew to hit a 9-month high and input costs slowed to a 20-month low. There was further speculation that the government would…
Find out how the major currencies have been performing and what movement we could see in the days ahead with our weekly exchange rate update. EUR – Euro Strengthens on Hotter-than-Expected Inflation The Euro rallied through the first half of this week’s session, as stronger-than-expected French, Spanish and German…
The Office of National Statistics reported that UK job adverts declined in February by 23% compared to last year. The Bank of England reported that businesses are planning to increase prices 5.4% over the next 12 months, the lowest reading since February 2022. Planned wage increases remained unchanged at 5.7%,…
Christine Lagarde – ECB President – is conducting an interview with Spanish TV this morning. Inflation and monetary policy is high on the agenda, along with the impact of the war in Ukraine and interest rate hikes. “The case for a 50 bps rate hike this month is still on…
Sterling held steady through yesterday morning with further support from the improvements to the Northern Ireland protocol which boosted confidence in the UK outlook. It also gave hope that it could lead to a wider strengthening of trade ties with the EU. The Pound reached highs just above 1.2140 against…
Yesterday saw GBP get some support after UK Prime Minister Rishi Sunak and European Commission President Ursula von der Leyen announced new post-Brexit trade rules for Northern Ireland. GBP broke through the significant resistance level of 1.20 vs USD, and now eyes 1.21 as the next level of resistance, with…