By Greg Smith on Wednesday, September 6th, 2023
in Blog, Market InsightsGBP – Governor Bailey testifies; Pill sees restrictive rates for some time The outlook for UK interest rates remains in focus, with expectations growing that we are reaching a peak. Bank of England Chief Economist Huw Pill, speaking in Cape Town, suggested that he would like to see a Table Mountain profile. His suggestion is […]
By Greg Smith on Tuesday, August 29th, 2023
in Blog, Market InsightsGBP – Focus remains on rates, with a weakening economy The focus across markets continues to be whether the global economy can avoid a serious downturn and achieve a soft(ish) landing. Following on from this, interest rates continue to be the number one issue. Rates are probably close to a peak across all major markets, […]
By Greg Smith on Tuesday, July 18th, 2023
in Blog, Market InsightsGBP – Inflation to fall overall though Core to rise further The June CPI report will be closely watched this week. It is expected to show inflation falling to 8.3%. This would be a welcome fall from 8.7% in May, mainly due to a fall in energy prices. On the flip side, core inflation will […]
By Greg Smith on Tuesday, July 11th, 2023
in Blog, Market InsightsGBP – Pay growth hits 7.3% as BoE Bailey speaks The labour market data today was an important update on inflationary pressures. Regular pay growth rose by more than expected at 7.3% in the three months to May. Employment growth fell and unemployment rose from 3.8% to 4%, though this may be due to economically […]
By Greg Smith on Monday, July 3rd, 2023
in Blog, Market InsightsGBP – Sterling weakens despite rate expectations Following the rate hike by the Bank of England, markets anticipate Bank Rate at 6% by the year-end. Despite the expectations for rates staying higher for longer, the pound has weakened over the last couple of weeks. This is a reflection of concerns about the outlook for economic […]
By Greg Smith on Tuesday, June 27th, 2023
in Blog, Market InsightsGBP – BoE hike 0.5% to 5%, with expectations of 6% this year Markets were fully expecting a rise in interest rates from the Bank of England last week. However, with the higher-than-expected inflation data and wage growth, we saw the BoE hike rates by 0.5% instead of 0.25%. It is likely that the committee […]
By Greg Smith on Wednesday, June 21st, 2023
in Blog, Market InsightsGBP – Sterling hits 14-month high as BoE expected to hike again This week, attention will be on sterling with the Bank of England rate decision on Thursday. Pretty much everyone expects a further 0.25% rate hike to 4.75%. That will make it 13 in a row. The BoE are still clearly concerned about persistent […]
By Greg Smith on Monday, June 12th, 2023
in Blog, Market InsightsGBP – Positive labour market and GDP expected We now have two weeks to wait until the next Bank of England rate decision on 22nd June. The data will be closely watched in the run-up to that decision which may see a pause in rate hikes. Tomorrow we will get the labour market report which […]
By Greg Smith on Wednesday, May 24th, 2023
in Blog, Market InsightsGBP – Inflation falls to 8.7%, but Bank of England remain alert The main highlight for the UK this week is inflation. Energy and other goods have pulled inflation lower to 8.7% from 10.1% in March. The drop in inflation was smaller than some expected with forecasts closer to 8%. This will keep pressure on […]
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