CPI set to fall to BoE target June 15, 2009 Consumer price inflation looks set to fall to the Bank of England’s two per cent target in May for the first time since late 2007, tugged lower by a recession-hit economy. CPI has been above the central bank’s target since October 2007, peaking at 5.2 per cent last September
MPC steadied by string of positive data June 14, 2009 CAUTIOUS optimism is likely to dominate the Bank of England’s Monetary Policy Committee (MPC) June minutes due out this Wednesday, in the light of the last fortnight’s string of positive data. Key MPC members including Kate Barker and Paul Fisher have already expressed concerns about the strength and sustainability of the UK’s nascent economic recovery, [...]
MPC steadied by string of positive data June 14, 2009 CAUTIOUS optimism is likely to dominate the Bank of England’s Monetary Policy Committee (MPC) June minutes due out this Wednesday, in the light of the last fortnight’s string of positive data. Key MPC members including Kate Barker and Paul Fisher have already expressed concerns about the strength and sustainability of the UK’s nascent economic recovery, [...]
Consumer-related stocks to shed some light on spending June 14, 2009 RETAILERS will be very much in the spotlight again this week, with trading updates expected from the great and good of the supermarket world and retail sales data expected to shed more light on the high street picture. Tesco will get the ball rolling tomorrow when it releases its first quarter sales data, but is [...]
RECESSION OVER FOR BATTERED BRITAIN June 10, 2009 A TOP think-tank yesterday called an end to the bitter recession that has been crippling Britain, in a move that was welcomed across the City last night. The National Institute for Economic and Social Research (NIESR) said output grew 0.1 per cent in May and 0.2 per cent in April. Martin Weale, its director, said [...]
Shadow MPC divided over policy moves June 3, 2009 DESPITE early signs of an economic recovery, interest rates should be kept on hold at 0.5 per cent according to all nine of City A.M.’s shadow MPC committee, ahead of the Bank of England’s June monetary policy decision due today at midday. The Bank of England has already announced asset purchases of £125bn out of [...]
Home loans at lowest level since 2001 May 27, 2009 MORTGAGE lending sunk to its lowest level for eight years in April, data showed yesterday. Net lending by the major banks was £2.7bn during April, down from £3.4bn in March – the lowest figure since March 2001, according to the British Bankers Association (BBA). However, the number of mortgages approved for house purchases actually rose [...]
Great Portland pays 18m to exit bet May 27, 2009 PROPERTY group Great Portland Estates yesterday spent £18.2m to buy its way out of an expensive interest rate hedge. The London landlord became the first major property company to pay a hefty break fee to end an interest rate hedge on £190m of debt. It’s thought the move will save the company about £8.5m a [...]
MILES HAS THE MPC FACTOR May 26, 2009 MORGAN Stanley’s chief UK economist David Miles beat 71 other applicants when he clinched a £128,600 role on the Bank of England’s nine-member Monetary Policy Committee. Miles will replace David Blanchflower, the policy maker widely credited with predicting the scale of the recession. Blanchflower leaves this week, and Miles is expected to stay for a [...]
Gilt prices on course to fall as UK public debt threatens credit rating May 25, 2009 MARKETS were rattled last Thursday when ratings agency Standard & Poor’s announced that it had downgraded its outlook on Britain’s AAA credit rating to “negative” from “stable” for the first time since October 1993. Lower credit ratings result in higher borrowing costs because the borrower is considered more likely to default on its debt. If [...]