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Monday, 21 December 2015
News

BoE Weale says rate hike unlikely in the near future

One of the Bank of England's most hawkish policymakers has signalled that he is unlikely to vote for higher interest rates in the near future. Martin Weale said a surprise "pause in wage growth" and further falls in commodity prices made the need for tighter policy "slightly less immediate".
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Friday, 18 December 2015
News

After Fed's rate hike BoE under pressure

There were no data releases from the UK on Friday. Markets are still weighing on recent UK figures. Thursday brought Retail Sales data. The ONS said the amount spent by shoppers was up 1.4% in November compared with the month before, and was also up 1.4% from the same point a year earlier. The value of online sales increased by 4.9% in November from October, and were 12.7% higher compared with last year. "Retailers may see some pay-back after the Black Friday promotions led shoppers to pull-forward spending that would otherwise have taken place in December, but the underlying sales trend looks set to remain strong as we head into 2016," said Chris Williamson, chief economist at Markit.

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Monday, 14 December 2015
News

Sterling lower at the beginning of European part of the session

There are no major data releases from the UK today. Sterling fell overnight as traders are still weighing on recent BoE stanzas, as well as anticipating UK CPI and job figures, but with the focus on Fed's interest rate decision. Last week members of the Bank’s nine-member monetary policy committee (MPC) voted eight to one to leave rates at 0.5%, where they have been since March 2009, in a repeat of voting numbers seen in recent months. Sticking to his recent stance, only Ian McCafferty voted for a rise to 0.75%.
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Thursday, 10 December 2015
News

BoE keeps interest rates unchanged

The Bank of England's rate-setters focused on a renewed fall in global oil prices and slower wage growth at home as they voted 8-1 again to keep interest rates at their record low of 0.5 percent. The minutes of the Bank's latest policy meeting showed it was in no hurry to match an expected rate hike by the U.S. Federal Reserve next week as there was "no mechanical link" between the Bank's thinking and that of other central banks.
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