UK Pay Growth Slows


UK Pay Growth Slows

British workers’ pay growth has slowed to its weakest in six months despite record employment, challenging the Bank of England as it considers whether to raise interest rates next month for only the second time since the financial crisis. Average weekly earnings rose by 2.5 percent on the year in the three months to May, […]

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Key Vote In Parliament Today

Following last week’s Brexit White Paper, the Customs Bill heads back to the House of Commons today. Several amendments to the bill have been tabled, including four by hard-Brexiteer Jacob Rees-Mogg. Meanwhile, more pro-EU MPs have tabled an amendment aimed at keeping the UK in a customs union with the EU. Prime Minister Theresa May […]

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Focus on Mark Carney’s Speech

In Europe, German Chancellor Angela Merkel said UK PM May’s new Brexit proposal, after Friday’s Cabinet agreement meeting at Chequers, was a “solid step forward”. Today though, the market maybe more focused on BoE Governor Carney’s speech this afternoon in Boston, particularly with the August MPC meeting just over three weeks away. Speaking in Newcastle […]

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Is the Brexit plan unworkable?

UK PM May hosts the Cabinet at Chequers today, where an agreement on the content of the government’s White Paper on a third post-Brexit trading arrangement, dubbed a “facilitated customs arrangement”, will be sought. The White Paper is expected to be published next week. It remains to be seen whether it will have the backing […]

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Carney speaking this morning – Financial Stability

The pound fell versus the dollar and Euro over the last 24 hours after an incoming Bank of England policymaker expressed caution over Britain’s readiness for higher interest rates and uncertainty over the impact of Brexit on the economy. Sterling fell as much as half a percent as economics professor John Haskel, whose views are […]

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Sterling hits a 5 day high

Sterling rose to a five-day high after British retail sales jumped for the second month in a row in May and far outstripped expectations. Sterling is likely to gain this year and by the time Britain leaves the European Union next March will have recouped a chunk of its losses since the June 2016 decision […]

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Dollar strengthens ahead of Fed meeting

The dollar edged up across the board today ahead of a Federal Reserve policy announcement that investors will scan for clues on how many more U.S. rate hikes there will be this year. The Fed concludes its two-day policy meeting later on Wednesday and is widely expected to hike rates for the second time this […]

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Market Update

Today has a light data calendar with nothing of note in the UK. We have no further UK releases for the rest of this week. However, it should be noted that there are several important releases next week, ahead of the Bank of England policy announcement on 21st June. These include industrial production and construction […]

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UK Construction picks up in May

Markets appear relieved that the Italian political situation has stabilised (at least for now), and do not seem overly concerned with escalating trade disputes. Italy’s new government will face a confidence vote in the two Houses today, which is expected to be an easy win. Following Friday’s stronger-than-expected manufacturing PMI, further insight into domestic activity […]

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Sterling hits a 6 month low against the Dollar

The pound fell to a six-month low against a rallying dollar on Tuesday, while it held its own against a euro dragged down by concerns about a deepening political crisis in Italy. Sterling has slumped against the dollar since mid-April as expectations of a Bank of England interest rate rise recede and the economy shows […]

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