UK Economics Correspondent, London
Andy's Feed
Feb 27, 2015

Sterling steadies after hitting 7-year high vs euro

LONDON, Feb 27 (Reuters) – Sterling steadied on Friday after
a rollercoaster week which has seen it scale seven-year highs
against the euro even as doubts appear over how much more it can
gain ahead of a potentially unsettling election in May.

Helped by an afternoon recovery in Europe for the euro
against the dollar, the pound bounced back from lows below $1.54
hit in early trade. It also inched up 0.12 percent to 72.54
pence per euro, its strongest since the end of 2007
but only 3 hundredths of a pence above Thursday’s high.

Feb 25, 2015

Ireland open to idea of growth-linked bonds for Greece

LONDON (Reuters) – Ireland has no problem in principle with the idea of swapping Greece’s official debt for growth-linked bonds but would have to see the details of any proposal, Finance Minister Michael Noonan said on Wednesday.

Euro zone finance ministers agreed on Tuesday to a four-month extension of Greece’s EU/IMF bailout program, subject to its economic plans being approved in detail with discussions set to start immediately on filling the state’s funding gap.

Feb 17, 2015

British inflation hits record low, gives consumers pre-election boost

LONDON (Reuters) – British consumer price inflation eased last month to its lowest level since records began in 1989 and looks set to slow further, lifting voters’ disposable incomes as national elections approach.

Annual CPI fell to 0.3 percent in January, Tuesday’s official figures showed, as expected in a Reuters poll, from 0.5 percent in December.

Feb 13, 2015
Feb 12, 2015
via MacroScope

RIP forward guidance (2013 – 2015)

Today marked the first time since its launch that forward guidance wasn’t mentioned by the Bank of England in its quarterly inflation report, or by Governor Mark Carney in his opening remarks.

Feb 11, 2015
Feb 11, 2015
Feb 9, 2015
Feb 6, 2015

Oil import surge widens UK trade gap, but exports also grow

LONDON (Reuters) – Britain’s trade in goods deficit widened sharply in December on a surge in oil imports, making the trade gap for last year as a whole the biggest since 2010.

There were signs of a shift in the trade balance in the final quarter, when the goods deficit narrowed by the largest amount in three years as export volumes rose at their fastest since the second quarter of 2013.

Feb 6, 2015