Posts Tagged ‘pound’
Bank voted 7-1 to hold rates in June
Minutes of the Bank of England’s June meeting have been released today and have revealed that the Monetary Policy Committee (MPC) voted 7-1 earlier this month to keep interest rates at the historic low of 0.5% – where they have been since March 2009.
The usual nine-strong committee comprised of only eight members this month [...]
Pound gains on dollar despite hung parliament
Despite Friday’s general election result, which failed to give any political party a clear majority, sterling has gained on the US dollar today, while London’s FTSE recovered from the sharp falls on Friday.
The pound rose by nearly a cent against the dollar to $1.4865 but fell against the euro to 1.1510 euros.
The pound fell [...]
ABFA: Hung parliament bad for economy
Kate Sharp, chief executive of the Asset Based Finance Association (ABFA) believes last week’s hung parliament result could seriously hurt the UK’s economic recovery.
According to many experts, the hung parliament result means that it will be harder to pass legislation and undermine a fragile UK recovery.
Ms Sharp of ABFA comments: “The ABFA supports policy plans [...]
British exports see marginal rise
Official data has revealed the value of British exports grew by just 0.05%, or £28 million, in the final three months of 2009 compared with the same period a year earlier.
The figures were a surprise since a weak pound should make UK goods cheaper abroad.
Analysis of Government data by Close Treasury revealed that the [...]
UK factory output in surprise January fall
The Office for National Statistics (ONS) today revealed UK industrial output unexpectedly fell in January – primarily due to the cold weather during the month.
According to the ONS, output fell by 0.4% in January compared with the previous month and represented the largest monthly fall since August.
Analysts had expected a 0.3% rise.
However, on an [...]