UK real wages are falling
These numbers are well under the inflation rate and show British consumers becoming victims of stagnating and negative real wage growth.
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Browsing Tag
Britain
BOE and ECB: What It Means and What is Next
The Bank of England, which has a penchant for surprising the market, chose not to wait for the quarterly inflation report to provide cover, and announce GBP75 bln additional bond purchases over the next four months. We forecast sterling to…
A Tale of Policy Shifts as the UK goes QE2
Sterling plummets as BoE surprises the market with QE announcement; global stocks, oil advance. All eyes turn to Berlin for Trichet’s last meeting in the hopes of a policy announcement. BoE announcement see QE larger and earlier than many…
Chutes and Ladders: Preview of BOE and ECB Meetings
The outcome of the Bank of England meeting will known first. Based on the dovish cast to the Sept BOE minutes and some recent comments, within the context of generally soft economic data, there is speculation that the BOE can resume its…
Hugh Hendry on the economy and the sovereign debt crisis
We’ve reached a very rare moment in economic history where the problem is greater than the ability of the politicians to respond.
What can we learn from the policies that spurred the Industrial Revolution?
Some of the dominant policy issues of today – immigration, energy, the emergence of China – have their analogues in the great Industrial Revolution. The key government policies that laid the foundation for the Industrial Revolution in…
Holders of Sovereign Debt
Here’s a great chart just released by the International Monetary Fund for Greece, Portugal, and Ireland as well as Japan, the US and the UK. Note that almost half of the US federal government debt is held by the Federal Reserve and the…
Additional US dollar liquidity-providing operations over year-end
A statement by the Bank of England on market liquidity to be provided in co-ordination with other major international central banks.
Increase in UK take home pay more subdued
Disposable personal income gains are moderating. In the UK, where the increase in consumer prices is the most elevated in the G7, income in real terms is declining and that has led to a gloomy picture of the UK economy’s prospects.
Underwhelming Policy Response Continues
Markets stable but tone remains fragile. SNB expanded its sight deposit target; no EUR/CHF peg. BoE’s decision to stay on hold was unanimous. New measures announced by China boost CNY internationalization and integration with HK.