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UK Public Finances Beat Expectations

UK Public Finances Beat Expectations

September 21st, 2017

Chancellor Philip Hammond has a reason to smile today since the Office for National Statistics (ONS) released data, which showed that public sector borrowing in August was much less than expected by City analysts.

  • Will Boris Johnson Resign?
    September 19th, 2017

    Will Boris Johnson Resign?

    Caught in the lobby of his New York hotel, after returning from a jog, a sweaty Boris assured curious and anxious reporters that he wasn’t quitting, despite rumours of his resignation.

  • Pound’s Volatile After Carney’s Speech
    September 19th, 2017

    Pound’s Volatile After Carney’s Speech

    Sterling weakened against the Euro and was volatile against the US Dollar, as a result of the Bank of England's (BoE) Governor Mark Carney's speech in the US capital. Carney noted that the Monetary Policy Committee (MPC) believes that some withdrawal of the stimulus is likely to be needed in coming months. However, the Canadian banker added that rate hikes will be gradual and limited, making traders reluctant to buy the Pound.

  • Brexit Chaos: Boris Brings Back Dead Promises
    September 18th, 2017

    Brexit Chaos: Boris Brings Back Dead Promises

    On Friday evening, the Foreign Secretary, Boris Johnson, published a Brexit article in The Telegraph, triggering commentary and criticism in Conservative circles and at Westminster. Downing Street refused to take sides between Boris Johnson and his detractors, particularly Sir David Norgrove, and instead, advised anyone who is interested in the actual figures to go online “and have a look at them.”

  • Brexit: CBI Demands 3-Year Transition Period
    September 18th, 2017

    Brexit: CBI Demands 3-Year Transition Period

    Sterling lost its momentum against the US Dollar and the Euro, recording losses and not being able to resume the previous week's excellent performance. The Bank of England's (BoE) hint at raising borrowing costs from the record low of 0.25% in the next months has triggered a chain reaction of upward revisions regarding the outlook of the UK's economy and the Pound's value.

  • Terror in London: Parsons Green Explosion
    September 15th, 2017

    Terror in London: Parsons Green Explosion

    An explosion on a tube carriage at Parsons Green underground station in West London, this morning, injured 19 people, after an improvised explosive device (IED) was partially exploded. It happened while the Edgware Road-bound train from Wimbledon arrived at Parsons Green.

  • Pound Hits a One-Year High
    September 15th, 2017

    Pound Hits a One-Year High

    The Pound hit a one-year high against the US Dollar and a two-month high against the Euro today, boosted by Marc Carney's words who said that the Bank of England (BoE) is considering raising interest rates. In yesterday's meeting, the Monetary Policy Committee (MPC) decided to keep the BoE's interest rate unchanged at 0.25%, but noted in a statement that a reduction of monetary stimulus would be appropriate over the next months.

  • Pound Rallies as BoE Hints at Rate Hike
    September 14th, 2017

    Pound Rallies as BoE Hints at Rate Hike

    The Bank of England has taken centre stage today with the circulation of the new £10 note featuring Jane Austen and news that an interest rate hike in autumn is possible.

  • Markets Focus on BoE Rate Decision
    September 14th, 2017

    Markets Focus on BoE Rate Decision

    The new £10 note is launched today by the Bank of England (BoE), but its decision on interest rates at noon will probably affect how many Euros or US Dollars you can buy with it. The Monetary Policy Committee (MPC) of the BoE is having its September meeting after which its members will vote on whether or not the BoE's benchmark interest rate should be picked up from the record low 0.25%.

  • Juncker: Brexit will Bring Us Together
    September 13th, 2017

    Juncker: Brexit will Bring Us Together

    The European Commission chief Jean-Claude Juncker called EU governments on Wednesday to come together taking advantage of the stronger European economy and Brexit.

  • More Employment, Less Wages for Britons
    September 13th, 2017

    More Employment, Less Wages for Britons

    More and more people are in work in the UK, but salaries are not growing as much as they should. This is shown by data published by the Office for National Statistics (ONS).

  • Police and Prison Officers’ Pay Rise
    September 12th, 2017

    Police and Prison Officers’ Pay Rise

    According to No 10, the seven-year public sector pay cap will be lifted next year.

  • Pound Spikes After Inflation Hits 2.9%
    September 12th, 2017

    Pound Spikes After Inflation Hits 2.9%

    Today is a great day for the Pound as the British currency has hit a one-year high against the US Dollar and a one-month high against the Euro. The reason for the lift-off was a series of data released by the Office for National Statistics (ONS), which showed that UK inflation in August was at 2.9%. The figure was higher than the 2.8% reading that analysts were expecting. Market experts are optimistic that the Bank of England (BoE) will now have to consider raising borrowing costs.

  • London is World’s Top Financial Centre
    September 11th, 2017

    London is World’s Top Financial Centre

    London is at the top of the world in the financial sector, according to a new survey by Z/Yen global financial centres index (GFCI).

  • Pound Strong Ahead of Repeal Bill Vote
    September 11th, 2017

    Pound Strong Ahead of Repeal Bill Vote

    Today, the Pound strengthened against the Euro and continues to be close to a six-week high against the US Dollar, just before ministers cast their vote on the Great Repeal Bill at midnight, tonight. David Davis, the Brexit Secretary, warned that voting against the Repeal Bill is equal to backing a chaotic exit from the European Union. Davis said that British citizens didn't vote for confusion in last summer's referendum.

  • Is Jacob Rees-Mogg Going to Be PM?
    September 08th, 2017

    Is Jacob Rees-Mogg Going to Be PM?

    who is jacob rees-mogg and moggmentum

  • Pound Strengthens after Improved Manufacturing Data
    September 08th, 2017

    Pound Strengthens after Improved Manufacturing Data

    Sterling strengthened against the US Dollar and the Euro after data published by the Office for National Statistics (ONS) showed that manufacturing production increased unexpectedly in July. According to the ONS report accompanying the survey, car manufacturing made the biggest contribution to this increase.

  • Great Repeal Bill or Great Power Grab?
    September 07th, 2017

    Great Repeal Bill or Great Power Grab?

    Today, ministers debated the Great Repeal Bill. Also known as the EU withdrawal bill, the legislation aims at incorporating EU law into domestic law once the UK formally leaves the EU.

  • Euro Rises Ahead of ECB Decision
    September 07th, 2017

    Euro Rises Ahead of ECB Decision

    The European Central Bank's (ECB) meeting today in Frankfurt dominates the news. Investors and traders are waiting to listen to what the ECB's board has decided on the issue of interest rates and if the Eurozone's central bank will start reducing its asset purchasing programme. The meeting will be followed by a press conference, where the ECB's head Mario Draghi is expected to be bombed with questions on those matters.

  • Controlling Immigration after Brexit: Britain First
    September 06th, 2017

    Controlling Immigration after Brexit: Britain First

    A document from the Home Office which was leaked to the Guardian, includes detailed proposals about controlling immigration, especially of low-skilled migrants from Europe.

  • UK Immigration Plans Leaked
    September 06th, 2017

    UK Immigration Plans Leaked

    The Pound remained stable against the US Dollar, trading above the $1.30 mark, but got weakened against the Euro. A leaked Home Office document revealed details on how the British government is thinking to shape its immigration policy, after the UK exits the European Union. The document shows that Theresa May's government will try to cap the influx of low-skilled EU workers and is willing to allow only high-skilled EU citizens to stay and work in the country for more than three years.

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