Tag: bank of england
May Market Commentary
Wednesday April 25th must have been the morning David Cameron felt like phoning in sick. The Office of National Statistics officially confirmed that a shock 0.2% contraction in growth had pushed the UK into its first double dip recession since the 1970s. Meanwhile the Levenson Inquiry rumbled on with Culture Secretary Jeremy Hunt facing calls to [...]
Read moreApril Market Commentary
March was a month which began with headlines about the Greek debt crisis and the impending ‘final deadline.’ By the end of the month the focus – in Britain at least – had shifted to Granny Tax, Cornish Pasties and the shortage of petrol. On March 7th world stock markets suffered some of their worst [...]
Read moreA bleak forecast: the UK in recession and base rates on hold until 2016
The Centre for Economic and Business Research (CEBR) indicated in a recent report that the UK economy is probably already in recession, with negative GDP growth in the fourth quarter of 2011 and the first quarter of 2012. The CEBR has also revised down its forecast for growth for 2012 as a whole, from 0.7% [...]
Read moreWhat does the Bank of England MPC do?
A very powerful voice in the world of UK business and finance, the Bank’s Monetary Policy Committee (MPC) sets interest rates. In setting an interest rate, the MPC judges that the rate will enable the UK’s inflation target to be met. The Monetary Policy Committee, MPC, is made up of nine members – the Governor, Sir [...]
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