Mark Carney

UK ILO Unemployment beat expectations, coming in at 7.6% vs expectations of 7.7%. The number of unemployed people in the UK fell 48,000 to 4.27million. The Bank of England’s forward guidance; focused upon a headline unemployment rate of 7%. Today’s figure is a positive step towards this level, which potentially will see an increase in interest rates in the not too distant future. However one potential concern highlighted by analysts is the relatively stable hourly earnings…

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The Governor of the Bank of England Mark Carney spoke in Wales to discuss how he will attempt to address the regional economic imbalance. The issue has been a long standing problem, and following the collapse of the UK mining and manufacturing industries has only been exacerbated. Regional cities, which had grown on the basis of industry such as ship building, saw a rapid decline of living standards as the industries collapsed and unemployment took hold. In contrast the capital has a thrivin…

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Sterling was given a boost in early trade as comments from the Governor of the Bank of England Mark Carney. The Governor had been making visits to cities in the North of England and was interviewed by local newspapers Thursday, as these comments reached traders on Friday morning Sterling jumped against the greenback by 80 cent to a session high of 1.6132. Quantitative Easing Analysts and market commentators have been quick to criticise to the timescale of policy tightenin…

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As expected the MPC have left interest rates on hold at 0.50% and quantitative easing at £375bn. Carney is now under pressure following the recent better than expected data points from the UK, pointing to a recovery that it is gaining traction. The Governors Forward Guidance, of ultra-loose monetary policy seems to be being ignored by the markets, as traders believe that the bank will be forced to raise rates earlier than forecast. The minutes of the meeting will be publish…

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“An Englishman’s home is their castle” The obsession with home-ownership, is a mere' aspiration for the majority, though it is becoming unachievable in some locations without the help of the bank of mum and dad. House prices vary significantly in the UK and even by street in the capital. A roof over a person’s head is a basic need, but homeownership provides stability and can be more cost effective than rent. Today it was announced that UK mortgage ap…

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The economic indicators for the UK economy are showing that a recovery is beginning to gain momentum and is hopefully sustainable. Since the “credit crunch” the economy has been into a recession (not the double, or triple that had been previously thought) but it was deeper than initially thought. The British economy is dominated by the service sector, and is a global leader in many areas of finance, such as foreign exchange transactions. The PMI data released on Monday comb…

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*In the US it is a national holiday today, Independence day. This will affect the trading hours of certain markets with us remaining closed for the session, please see your client emails for further details* The markets seem relatively subdued this morning ahead of BoE and ECB announcements, with the US closed for Independence Day volumes are likely to be lower. Bank of England Mark Carney began his term as the first foreign national to become the Governor at the Bank of En…

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This morning the Ex-Bank of Canada Governor begins his role as the new Bank of England Governor, taking over from Sir Mervyn King. Carney is the first foreign national to hold the senior post on Threadneedle Street, and many are hoping he will be able to work miracles. The UK economy is just beginning to show the green shoots of a recovery following a deeper recession than previously thought according to the ONS. The BoE has attempted to reignited growth with ultra-loose monetary polic…

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