At noon the Bank of England’s Monetary Policy Committee (MPC) will announce if there is a change to interest rates or the asset purchase programme. The current base rate is 0.5% and today’s announcement marks six years since the MPC cut interest rates to the record low. The expectation is a vote for rates and QE (£375bn) to be left unchanged. The Bank of England’s MPC remit is to target 2% inflation, over the last few years the economy consistently overshot as t…
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Sterling has traded to the highest level since 2008 on Tuesday against the US dollar, following better than expected macro data. UK Manufacturing PMI for June at 57.5, up from 57.0 in May, a number above 50.0 states expansion. The other highlight of the report was job creation at a 39-month high adding to the positive sentiment for the UK economy. RT @World_First: UK Manufacturing PMI (June) = 57.5 vs 56.8 expected and 57.0 previous > Q2 growth surely over 1% — Mike Bi…
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The first trading day of September and the final quarter of 2013 begin. The 5 year anniversary of collapse of investment bank Lehman Brothers is a few days away, which was one of the major casualties of the credit crunch, which has driven major economies into recession and the Eurozone to the brink of collapse. The week begins with a raft of countries releasing their manufacturing data. It began with China, as a major consumer and producer; the slowdown has been a significant concern t…
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