Red hot jobs market strengthens BoE rate hike bets October 12, 2021 A rebound in the UK jobs market back to pre-pandemic health is strengthening bets on the Bank of England hiking interest rates this year. The number of payrolled employees climbed more than 200,000 over the last month, jumping to 29.2m in September, above its pre-pandemic level, according to the Office for National Statistics (ONS). The [...]
Bank of England rate-setter: Brace yourself for interest rate rises very soon October 10, 2021 One of the key rate-setters on the Bank of England’s Monetary Policy Committee has today said UK households should be primed for an interest rate rise “significantly sooner” than first thought. Michael Saunders, the former Citigroup economist turned Threadneedle St wonk, noted that financial markets had already priced in a pending rate rise as economies [...]
Andrew Bailey: Interest rate rise needed to slow inflation but economy not strong enough September 28, 2021 Andrew Bailey said in a speech last night to the Society of Professional Economists that rate of recovery from the pandemic had slowed over recent months, adding: “And that slowing is continuing.” The Bank of England governor jokingly asked “when is the plague of locusts due” as he warned the economy faces “hard yards” ahead. [...]
Bank of England hawk Saunders suggests interest rates will rise in 2022 September 7, 2021 Your mortgage rate looks more likely to rise next year, according to one Bank of England rate-setter. The Bank of England may need to increase interest rates next year if the UK’s GDP recovery momentum holds and inflation becomes stickier, policymaker Michael Saunders said today. Saunders, who in August voted for an early stop to the BoE’s [...]
West watches on as Bank of Korea raises interest rates August 26, 2021 The Bank of Korea is raising interest rates in a shift away from pandemic era monetary policy as the country faces spiralling public debt. The interest rate climbed 25 basis points from a rate of 0.5 per cent to 0.75 per cent following a 10 per cent increase in household debt and a 14.3 per [...]
Bank of England’s MPC meeting: Who will take Haldane’s hawkish reins? August 3, 2021 A big hole has been left at the table of the latest round of the Bank of England’s monetary policy committee meetings – they are the first since chief economist Andy Haldane departed the Old Lady after over 30 years of service. Much of the focus on Thursday’s MPC policy announcements will be on whether [...]
UK’s debt risks soaring by over £100bn due to post-pandemic inflation June 29, 2021 The Bank for International Settlements (BIS) today published its annual report today, suggesting that the UK’s post-pandemic debt could rise by over £100bn due to inflation. In its report, the Swiss-based bank set out its outlook for global recovery from the Covid pandemic. Its primary scenario was one of solid recovery but at uneven rates, [...]
Exclusive: CEO of deVere Group on why Bitcoin bashers have got it all wrong June 24, 2021 Bitcoin and other cryptocurrencies have experienced a major sell-off this week following China’s crackdown on the sector. Around $400bn in value has been wiped from the total digital currency market since Friday, when a major Bitcoin mining hub ordered miners to shut down operations. It followed reports saying that China’s central bank had a meeting [...]
Today’s Fed meeting: Those who eat get fat, those who don’t regret June 16, 2021 According to an old Turkish saying ‘those who eat get fat, those who don’t regret.’ Traders would pick this up as taking a long equity position as investors continue to navigate an environment of low to negative yields on less risky holdings, with all eyes on the Federal Reserve later today. “It’s the Turkish way [...]
BoE keeps rates steady and dampens expectations of imminent change March 18, 2021 The Bank of England has held interest rates at 0.1 per cent and its bond-buying programme at £895bn, thereby diminishing expectations of changes in the immediate future, with the next announcement not until 6 May. The BoE’s Monetary Policy Committee (MPC) voted unanimously to keep rates at record-low levels. Analysts expected today’s decisions to be [...]