UK: Retail Faces Painful Consumer Awakening
Retail sales grew again in August to sit 4% above pre-Covid levels. It remains supported by the rotation away from the greater value-added...
402 Views
BoE: More QE in Nov-20, Not Negative Rates
The BoE MPC voted unanimously in favour of no policy change at its September meeting, while focusing on the economic impact of Covid and Brexit...
360 Views
Dollar, Euro & Sterling in Focus, Asian Currencies Under the Radar Screen
Much of the market focus in recent months has been on major reserve currencies, namely: The US Dollar which, contrary to bearish expectations and...
435 Views
UK: Puny Pass-Through of VAT and EOHO
UK inflation data delivered another upside surprise in Aug-20 as restaurant prices were resilient again. Puny pass-through of EOHO and VAT should...
349 Views
UK: Return to Real Labour Begins in Jul-20
The unemployment rate increased to 4.1% in July but not because of falling employment. Normalisation in the labour force participation rate meant...
318 Views