Archive forNovember, 2014
Published:
November 28th, 2014
Updated:
November 28th, 2014
The European Central Bank (ECB) President Mario Draghi emphasised on an all inclusive strategy combining fiscal policy and structural reforms to improve the condition of the euro area economy. He added that a soft monetary policy alone cannot deliver the desired results.
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Published:
November 27th, 2014
Updated:
November 27th, 2014
UK Office for National Statistics reported business investment fell 0.7% in Q3 2014, following a rise of 3.3% in the previous quarter. However, consumer spending advanced 0.8%. On a y-o-y basis, investment growth stood at 6.3%.
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Published:
November 26th, 2014
Updated:
November 26th, 2014
Mark Carney, Governor of the Bank of England (BoE), reported the central bank could demonstrate ‘considerable flexibility’ in the use of stimulus measures, if deflation fears spread to the UK. However, the Bank remains on course for a hike in interest rates next year.
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Published:
November 25th, 2014
Updated:
November 25th, 2014
According to a quarterly survey by the Confederation of British Industry, the UK’s services sector grew progressively in the three months to November. Although inflation in the consumer services selling price advanced at a faster pace since 2010, the price of business and professional services declined.
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Published:
November 24th, 2014
Updated:
November 24th, 2014
Pier Carlo Padoan, Italy’s Finance Minister, stated more action is required from the ECB to raise ‘excessively low’ inflation at an accelerated pace. He emphasised the use of all forms of financial instruments, including monetary policy, to support the Euro area’s economy.
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Published:
November 21st, 2014
Updated:
November 21st, 2014
The UK Independence Party (UKIP) won the south-eastern English constituency of Rochester and Strood in a special election by defeating Prime Minister David Cameron’s Conservative Party. The victory indicates a possible political upheaval in the next year’s national election. UKIP had won its first elected seat, last month.
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Published:
November 20th, 2014
Updated:
November 20th, 2014
Salvatore Rossi, Deputy Governor of Bank of Italy, stated the Eurozone is on the brink of deflation. Raising doubts over the ECB’s credibility, he said the central bank is unlikely to meet its target inflation, with the rate hovering near 0.4% in October.
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Published:
November 19th, 2014
Updated:
November 19th, 2014
The Office for National Statistics revealed that house prices in the UK increased 12.1% y-o-y in September to reach a seven-year high after gaining 11.7% in August. The average house prices inched up 0.5% m-o-m to £273,000 in September.
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Published:
November 18th, 2014
Updated:
November 18th, 2014
The UK’s Prime Minister David Cameron urged parliamentarians to hold firm on economic policies to secure a better future for the country. He stated the economy has responded well to the tough measures undertaken thus far, however the worrying signs from the Eurozone cannot be ignored.
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Published:
November 17th, 2014
Updated:
November 17th, 2014
Rightmove reported the average asking price for a house in the UK contracted 1.7% m-o-m in November to £267,127, following a 2.6% increase in October. On a y-o-y basis, house prices grew 8.5% in the UK compared with 7.6% in the previous month.
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Published:
November 14th, 2014
Updated:
November 14th, 2014
The IMF spokesman Bill Murray stated the Russian central bank’s decision to float the domestic currency would enhance the country’s ability to control inflation and withstand external shocks. However, the move may not offset the impact of falling crude prices on the oil-dependent economy. IMF expects the Russian economy to grow at 0.5% in 2015.
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Published:
November 13th, 2014
Updated:
November 13th, 2014
A survey by the Royal Institution of Chartered Surveyors indicated the monthly house price balance fell to +20 in October (weakest since May 2013), from +30 in September. This was largely due to widespread price declines in London.
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Published:
November 12th, 2014
Updated:
November 12th, 2014
Standard Chartered bank plans to shut around 100 branches or 8% of its network to save US$200m on the proposed US$400m per year. The company’s cost to income ratio stood at 67% in the first half of the year. The bank has been under significant pressure to improve performance after its shares fell 30% this year.
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Published:
November 11th, 2014
Updated:
November 11th, 2014
The British Retail Consortium stated total retail spending in October increased 1.4% y-o-y vis-à-vis a 0.8% y-o-y decline in September. However, retail sales on a like for like basis remained unchanged, after falling 2.1% in the previous month.
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Published:
November 10th, 2014
Updated:
November 10th, 2014
The Islamic financial services sector has grown considerably since the 1990s when there were only a few products available to investors. Today there are plenty of interesting products to choose from and more are expected following the government’s recent announcement of further steps to cement Britain’s position as a western hub for Islamic finance.
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Published:
November 10th, 2014
Updated:
November 10th, 2014
The National Bureau of Statistics in China revealed factory gate prices fell 2.2% y-o-y, for a record 32nd month in October. In contrast, consumer prices advanced 1.6%, unchanged from the rise in the previous month.
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Published:
November 7th, 2014
Updated:
November 7th, 2014
The PBoC confirmed that it has provided China’s lenders ¥769.5bn through a newly created medium-term lending facility tool, charging interest at a rate of 3.5% for three months. Lending was spread over two months, with an injection of ¥500bn in September and ¥269.5bn in October.
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Published:
November 6th, 2014
Updated:
November 6th, 2014
Japan’s Cabinet Office revealed today that the country’s leading index rose to 105.6 in September, the highest since April, following a reading of 104.4 in August. The coincident index climbed to 109.7, whereas the lagging index dropped to 115.8 in September.
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Published:
November 5th, 2014
Updated:
November 5th, 2014
Beaufort research analyst, Harry Stevenson speaking with Lincoln Moore (Executive Director) and Andrew Tillery (Non-Executive Chairman) of DekelOil Public Limited (DKL.L) on TipTV.co.uk (Source: www.tiptv.co.uk) – 05/11/2014
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Published:
November 5th, 2014
Updated:
November 5th, 2014
European Union (EU) reported the GDP of the 18-nation zone would increase 0.8% this year and 1.1% in 2015, down from previous estimates of 1.2% and 1.7%, respectively. EU lowered its projections for Germany amid poorer-than-expected inflation in the Eurozone.
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Published:
November 4th, 2014
Updated:
November 4th, 2014
Istat, Italy’s statistical office, downwardly revised the 2014 GDP outlook to 0.3% contraction from 0.6% expansion earlier. The GDP forecast for 2015 has also been trimmed to 0.5% growth from 1.0%.
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Published:
November 3rd, 2014
Updated:
November 3rd, 2014
The official services Purchasing Managers’ (PMI) index in China fell to 53.8 in October from a reading of 54.0 in September. Few days back, the official manufacturing PMI also indicated weaker growth momentum, with a reading of 50.8 for the month vis-à-vis 51.1 in September.
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