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Tuesday, 25 August 2015
News

Sterling testing 1.58 handle

There were no major data releases from the UK today as well, however, Sterling continues its uptrend. Investors have priced-in a chance that Fed will hike interest rates later than expected, possibly in December and not in September as it was initially expected. On the other hand, BoE also seems ready to raise interest rates at the beginnimg of 2016 as growth and labour market seems stable in the past few months.
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Monday, 24 August 2015
News

Sterling little changed in a quite morning trade

There are no major data releases from UK today, so traders are more concerned with recent UK data and speculations on rate hike date. Investors reckon the BoE will start hiking rates from their historic lows in early 2016 as the UK economy continues to pick up speed. That expectation carried the pound to a 7 1/2-year high on a trade-weighted basis earlier in the week. But the latest data suggests there should be no hurry. Read more...
Wednesday, 19 August 2015
News

Sterling higher as markets weigh on inflation data

There were no data releases from the UK this morning. Markets are still pricing yesterday CPI figures. To remind ourselves inflation beat expectations – year-on-year inflation now sits at 0.1%, ahead of predictions for a reading of 0%. Note that wages are rising and this will inevitably feed into the inflation profile in coming months. Consumers should not get used to the present conditions.
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Sunday, 16 August 2015
News

Forbes says interest rates need to be raised "well before" 2% target

There are no major data releases from the UK today. Over the weekend Bank of England's Kristen Forbes said interest rates will need to be raised "well before" inflation hits 2% target. "Maintaining interest rates at the current low levels during an expansion risks creating distortions. Therefore, interest rates will need to be increased well before inflation hits our 2% target. Waiting too long would risk undermining the recovery-especially if interest rates then need to be increased faster than the gradual path which we expect."
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