RIP forward guidance (2013 – 2015)

February 12, 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.

Long night of talks in Brussels and Minsk

By Mike Peacock
February 12, 2015

Eurogroup President Dijsselbloem greets Greek Finance Minister Varoufakis during an extraordinary euro zone Finance Ministers meeting in Brussels

A long night of talks in Brussels and Minsk.

Despite going into the early hours of the morning, euro zone finance ministers failed to reach agreement on a way forward with their Greek counterpart and will try again on Monday.

Timing of first Bank of England rate hike still a guessing game

February 5, 2015

BA year and a half after Citi became the first major bank to pencil a Bank of England interest rate hike into their forecasts, nobody appears to be any more sure of when this actually will happen.

Another reverse for Greece with Berlin yet to come

By Mike Peacock
February 5, 2015

Greek Finance Minister Varoufakis answers journlists questions at restaurant in Frankfurt

Last night, after Greece’s new Finance Minister Yanis Varoufakis met Mario Draghi, the European Central Bank cancelled its acceptance of Greek bonds in return for funding, shifting the burden onto Greece’s central bank to finance its lenders, the latest reverse for the country’s new government.

Whatever it takes or whatever it can get away with?

By Mike Peacock
January 14, 2015

ECB President Draghi addresses during ECB news conference in Frankfurt

Markets are beginning to ponder just how definitive the European Central Bank may be next week in launching quantitative easing. One reason is today’s ruling at the European Court of Justice.

France grieves and questions

By Mike Peacock
January 8, 2015

Makeshift memorial is seen outside the Consulate General of France during a vigil for the victims of an attack on satirical magazine Charlie Hebdo in Paris, in San Francisc

The youngest of three French nationals hunted over the killing of 12 people at a satirical magazine turned himself in overnight. The police have named the trio, the two still at large are brothers Said and Cherif Kouachi.

More Brits than ever have no idea where rates are going

December 5, 2014

Bank of England Governor Carney listens during the bank's quarterly inflation report news conference at the Bank of England in London

So much for forward guidance. More Britons have no idea where interest rates are heading than since records began 15 years ago, according to the latest Bank of England/GfK NOP survey.

Draghi to talk the talk, no walk yet

By Mike Peacock
December 4, 2014

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The European Central Bank meets today with the debate about quantitative easing running hot after Mario Draghi declared “excessively low” inflation had to be raised fast and that the ECB would act more forcefully if its existing efforts to pump money into the ailing euro zone economy fall short.

Housing markets in U.S., UK, Canada set to cool even if rates stay low for longer

November 25, 2014

AEven as the expected date for an eventual interest rate rise in the U.S., Britain and Canada keeps getting pushed further into the future, the outlook for residential housing markets in these countries is also starting to cool.

EU uneasy about Hungary’s closeness to Russia

By Mike Peacock
November 19, 2014

Hungary's PM Orban arrives at an EU leaders summit in Brussels

After Germany’s foreign minister saw “no reason for optimism” after talks in Moscow on Tuesday, today Hungary’s Peter Szijjarto meets Russian Foreign Minister Sergei Lavrov. Violence is on the rise again in eastern Ukraine and tougher sanctions against Russia remain a live possibility although EU foreign ministers limited themselves to targeting a few more Ukrainian separatists earlier this week.