As expected, the Bank of England left interest rates on hold at its November quarterly meeting. Three members were still calling for rate hikes of a ¼ of one per cent even though the Bank of England lowered its forecast for GDP growth in 2024 from half a per cent to zero and its forecast …
A rerun of 2008 or a ‘Storm in a Teacup’?
Global financial markets are seeing the most significant banking market-driven turmoil since 2008/9, the first bank failures in the US since Washington Mutual in 2008 and a sharp fall in bank stocks. US monetary authorities reacted quickly, injecting liquidity, and guaranteeing deposits. But bank stocks around the world are generally lower than they were before …
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Minding the gap – UK rewards to labour and capital differ significantly
Last week saw the release of labour market data for the UK. It showed: unemployment at a 1975 low of 4% employment at an all-time high since data was collated on this basis in 1971, at 75.2% of the labour force, and wage inflation rising at its fastest nominal pace since 2008, up 3.4% including …
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