By Greg Smith on Monday, July 6th, 2020
in Blog, Market InsightsGBP – Chancellor Sunak update Last week, Boris Johnson said that policy focus will be on stimulating economic growth. He has said there would be no return to austerity despite the increase in the budget deficit. Chancellor of the Exchequer Rishi Sunak will update the House of Commons on the economic outlook this week. There […]
By Greg Smith on Monday, June 29th, 2020
in Blog, Market InsightsGBP – UK PMI improved Last week, several economic indicators suggested the near-term rebound could be stronger than previously thought. The purchasing managers’ index surveys for June beat expectations. Only the manufacturing PMIs reached 50.1, showing growth in the sector. The services PMI improved to 47.0, pointing to a likely return to economic growth in […]
By Greg Smith on Monday, June 22nd, 2020
in Blog, Market InsightsGBP – BoE increase purchases, reduce speed Last week, the Bank of England’s announced a further £100bn of asset purchases. There was some disappointment in the market that the QE increase wasn’t even larger. Sterling dropped as a result of the lower amount of stimulus, with the BoE reducing the pace of its purchases. There […]
By Greg Smith on Monday, June 15th, 2020
in Blog, Market InsightsGBP – BoE to increase QE The Bank of England (BoE) meets this week, with expectations of no further changes to rates, at 0.1%. Recent comments from MPC members suggest that may increase the £645bn limit on asset purchases. This limit is likely to be reached in July, and the committee will likely increase the […]
By Greg Smith on Monday, June 8th, 2020
in Blog, Market InsightsGBP – Major GDP fall The manufacturing and services PMIs for May were revised up, whilst construction rebounded to 28.9. These numbers represent an improvement, but all three stayed below the 50 level which signifies growth. The latest Chinese PMI readings were all above the 50 expansion level for May. Equities have surged as markets […]
By Greg Smith on Monday, June 1st, 2020
in Blog, Market InsightsGBP – Final UK-EU talks The final round of UK-EU talks is due to take place this week before the end of June extension deadline. David Frost will discuss the future relationship with the EU’s Michel Barnier. The deadline to extend the transition period beyond 31 December is the end of June. The UK has […]
By Greg Smith on Tuesday, May 26th, 2020
in Blog, Market InsightsGBP – Negative rate concerns There is still plenty of concern about the possibility of negative interest rates. This has continued to weigh on sterling. Last week, BoE policymakers again didn’t rule out negative rates but confirmed that other options are likely first. As a result, sterling continues to trade towards the bottom of recent […]
By Greg Smith on Monday, May 18th, 2020
in Blog, Market InsightsGBP – Positive PMI increases? With the easing in lockdown restrictions, markets will be looking for signs of an initial bounce. Timelier survey data will be of most interest, with positive PMI data for the UK (and US and Eurozone) expected this week. We expect significant bounces in the manufacturing and services indices though they […]
By Greg Smith on Monday, May 11th, 2020
in Blog, Market InsightsGBP – Lockdown eased slightly Last week, the Bank of England left interest rates unchanged at 0.1% and maintained the existing QE programme at £645bn. Governor Bailey said the Monetary Policy Committee is ready to provide more stimulus if required. Two members of the MPC voted for an increase in bond purchases of £100bn. The […]
By Greg Smith on Monday, May 4th, 2020
in Blog, Market InsightsGBP – Roadmap on lockdown easing The government will release a number of papers covering the measures that each sector will be expected to take as the current restrictions are eased. There is not expected to be a timetable for ending the lockdown. However, Boris Johnson has promised a ‘roadmap’ this week. We expect to […]
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