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Friday, 25 December 2015
News

Is BoE ready for rate hike in 2016?

So far the outlook for UK economic growth remains solid although the latest data showed GDP growth was slower in both the second and third quarters of this year. The inflation outlook, however, remains subdued and uncertain. The minutes from the December meeting of the Bank of England's (BoE) Monetary Policy Committee (MPC) showed that policymakers saw downside risks to inflation from protracted low oil prices, and weaker unit labor costs growth so far this year.
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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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Thursday, 17 December 2015
News

Aussie lower, but losses could be limited

There were no major data releases from Australia today. Australian dollar was relatively unshaken by the US Fed rate hike as a result of the subdued market reaction to the US Fed’s first interest rate. The muted response in the AU dollar is attributed to the tone of reassurance that further rate hikes will be “gradual” and will stay linked to the rate of inflation. According to Westpac senior currency strategist Sean Callow, the Australian dollar became stable as market attention turned to the Fed's statement that any further rate hikes would be "gradual."
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