Not a hawk or dove but ‘an owl’: Christine Lagarde holds rates at first meeting December 12, 2019 Christine Lagarde has begun her rein at the European Central Bank (ECB) with a promise not to be a hawk, nor a dove, but an owl, “associated with a little bit of wisdom”. The pledge came as the ECB kept interest rates on hold at record lows and downgraded its 2020 growth forecast for the [...]
European stocks creep higher ahead of General Election December 12, 2019 European shares edged higher this morning as investors await the result of a momentous British election, as well as the outcome of Christine Lagarde’s first policy meeting as head of the European Central Bank (ECB). The Conservatives are expected to win a majority of seats in the next parliament, but a poll released last night [...]
Rics: Political chaos pushes London house prices down in November December 12, 2019 Political uncertainty held back London house prices in November, a new survey has shown, with gauges of demand and sales stuck in negative territory. Property company owners are hoping that today’s General Election will provide a clearer political and economic picture that could boost the struggling market. Falling prices have lessened London’s affordability problems, however. [...]
Pension reform is political dynamite, but Macron’s attempt should be commended December 11, 2019 It would take a heart of stone not to be amused by Emmanuel Macron’s current predicament. The French President is trying to position himself as the leader of Europe. But at the same time, the streets of the major cities in France are, quite literally, ablaze. France’s public services are crippled by the biggest strike [...]
Institute of Directors members criticise Labour nationalisation plans December 11, 2019 Members of the Institute of Directors business body have criticised Labour’s plans to nationalise broadband, with 75 per cent of members calling the policy a bad idea in a poll. In a survey of over 1,000 of its members, the IoD also found that Labour’s broader plans to nationalise swaths of the economy would result [...]
Business groups call on next government to boost lacklustre growth December 10, 2019 Business groups have called on the next government to tackle the slowing UK economy after data today showed British GDP stagnated in October. The economy’s performance was below expectations of a 0.1 per cent expansion, but marked an improvement from the 0.1 per cent drop witnessed a month earlier, figures from the Office for National [...]
German investor morale unexpectedly climbs December 10, 2019 German investors were much more upbeat than expected in December, a survey has shown, with recent economic data fuelling hopes for an uptick in Europe’s biggest economy. The index of economic morale from research institute ZEW picked up to 10.7 this month from minus 2.1 in November. The score was well above expectations of a [...]
Swine flu helps push Chinese inflation to eight-year high December 10, 2019 Chinese consumer inflation climbed to close to an eight-year high in November, driven by a doubling of pork prices as African Swine Fever ravaged the country’s pig farms, official data showed today. Nonetheless, factory-gate prices fell for the fifth month in a row, highlighting the malaise in the country’s manufacturing sector brought about by the [...]
This country has not had enough of experts December 10, 2019 Michael Gove famously said that the “people in this country have had enough of experts”. Of course, that’s not the full story — at the time, Gove was specifically targeting experts who, he claimed, kept getting things wrong. But regardless, the “had enough of experts” quote went viral, and came to be viewed as something [...]
Former Federal Reserve chairman Paul Volcker dies aged 92 December 9, 2019 Paul Volcker, the Federal Reserve chairman who slayed rampant US inflation in the 1970s and 1980s, has died aged 92. The towering figure of international finance passed away on Monday, his daughter told the New York Times. He had reportedly been suffering from prostate cancer. Read more: The economy is slowing – can central bankers [...]