UK Economy
First rate rise in a decade but gloomy outlook for UK growth
There were few surprises today as the expected 25bps hike and conditional future rate path were in line with expectations — that is for one further rate hike by end 2018. However,...
Decision day for the Bank of England
The main focus for investors today will be the Bank of England rate decision and Inflation Report. With a rate hike all but a done deal today, attention will focus on the guidance for...
UK GDP growth boosted by industry
On October 25th, UK GDP slightly beat expectations, rising 0.4% on the quarter and 1.5% on the year. With services growth steady, the bounce back in industry helped boost growth on...
Lending survey shows consumers taking little heed of Brexit
On October 24th, the Irish Bank Lending survey showed household demand for mortgage loans and consumer credit rising in Q3 2017 and it is expected to increase in Q4. Credit standards...
UK set to record another mediocre 0.3% GDP growth in Q3 2017
The key UK data release this week is the first estimate of GDP growth in Q3 2017, with another mediocre rise of 0.3% (1.2% annualised) expected. This morning’s Markit Household Finance...
UK retail sales post weakest gain in four years
Yesterday’s UK retail sales data surprised already pessimistic expectations, falling 0.8% on the month and rising just 1.2% year- on-year (yoy). Indeed, the 1.2% annual rise in Q3 overall...
Time to trust an unreliable boyfriend?
Yesterday’s UK CPI data showed that inflation was 3% in September. This makes a rate hike in November more likely. However, Bank of England Governor Mark Carney has warned on several...
Higher UK inflation to seal rate hike decision
Today’s CPI numbers are expected to reveal another sharp rise in UK inflation in November, all but sealing the deal for an expected rate hike in November. However, with less than a...
EU27 set to reject calls to discuss UK transitional arrangement
At their meeting this week, EU leaders look set to dismiss UK calls to discuss a transitional arrangement on trade. With just 529 days to go until Brexit, the pressure on the UK...
RICS survey paints gloomy picture of UK housing market
Today’s Royal Institute of Chartered Surveyors (RICS) survey of the UK housing market paints a gloomy picture. The price expectations balance declined markedly to -8%, with sharp...
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