By Greg Smith on Monday, February 17th, 2020
in Blog, Market InsightsGBP – Stronger data expected Markets remain concerned about the disruption to supply chains due to the coronavirus outbreak in China. The February business data for the UK and the Eurozone may provide some indication of these. Growth forecasts for the first half of the year have been cut but with the assumption that any […]
By Greg Smith on Monday, February 10th, 2020
in Blog, Market InsightsGBP – GDP and Government reshuffle Risk sentiment has recovered despite further rises in coronavirus cases and deaths. The outbreak is likely to weigh on China’s economic growth this year. The wider impact is still uncertain with the UK looking at Brexit style contingency arrangements. Policymakers are keeping a close eye on developments, as further […]
By Greg Smith on Monday, February 3rd, 2020
in Blog, Market InsightsGBP – Bank of England held rates The Bank of England left interest rates on hold last week due to a pick up in growth since the election. The Monetary Policy Committee voted 7 to 2 in favour of no change, in line with the last two meetings. As it was a close call, sterling […]
By Greg Smith on Monday, January 27th, 2020
in Blog, Market InsightsGBP – Rate cut decision; EU exit It will be Mark Carney’s last MPC press conference as BoE Governor on Thursday. The decision on whether to cut rates or not is still finely balanced. The probability of a cut to 0.5% was as high as 75%. However, following the stronger employment and PMI surveys last […]
By Greg Smith on Monday, January 20th, 2020
in Blog, Market InsightsGBP – Rate cut expectations increase Over the last week the markets have shifted to expect a rate cut at the end of January. The chance has increased from 10% to around 70%. This has been caused by comments from BoE Governor Carney and two Monetary Policy Committee members. They were dovish enough […]
By Greg Smith on Monday, January 13th, 2020
in Blog, Market InsightsGBP – Potential for rate cut? Expectations of a rate cut in the UK increased after dovish comments from Governor Carney. Two other members of the MPC voted for an immediate rate cut at the last two policy meetings. Carney commented that the expected economic rebound is ‘not assured’ and noted that the MPC is […]
By Greg Smith on Monday, January 6th, 2020
in Blog, Market InsightsGBP – Withdrawal Bill to pass Following the New Year fireworks, UK parliament reconvenes tomorrow with the final passage of the EU Withdrawal Bill being the first order of business. Three days of discussion are scheduled and then the bill is expected to go to the House of Lords. With the Government’s large majority, the […]
By Greg Smith on Monday, December 16th, 2019
in Blog, Market InsightsGBP – New Conservative government Last week, the Conservatives secured the biggest majority since 1987. The pound topped $1.35 and €1.20 for the first time since May 2018 and April 2017 respectively. The new Conservative government is due to be recalled to Parliament tomorrow to swear in the new MPs. A Queen’s Speech may take […]
By Greg Smith on Friday, December 13th, 2019
in Blog, Market InsightsDespite a narrowing of the polls, the Conservative Party won a decisive election victory with 364 seats. (With 1 seat still to announce). This election result gives Boris Johnson a clear majority in Parliament. Most of the gains came from traditional Labour seats and leave-voting constituencies. After a disastrous election result, Jeremy Corbyn will stand […]
By Greg Smith on Monday, December 9th, 2019
in Blog, Market InsightsGBP – Markets expect Conservative majority Markets wait for the general election result with the opinion polls still pointing to a Conservative majority. Sterling touched its highest level since 2017 against the euro and also moved up against the US dollar. An exit poll will be available as soon as the polls close at 10pm […]
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