UK Public Sector Borrowing Requirement

Today saw the issue of November 2009’s figures for public sector borrowing in the UK. Net borrowing was £20.3 billion which compares with £15. 5 billion for November 2008. So far in this fiscal year the UK has had a net borrowing figure of £106.4 billion which compares with £49.3 billion for the same period […]

18 December 2009 by Shaun Richards

News

Read More...

More Pain For Greece

Yesterday saw another downgrade for Greece as a nation. Standard and Poor’s have now also reduced Greece to BBB+ status following on from Fitch last week. Standard and Poor’s also maintained their negative outlook on Greece.You may wonder why the ratings agencies are not more synchronised in their actions. You may also wonder why anybody […]

17 December 2009 by Shaun Richards

News

Read More...

UK Unemployment Figures for August-October 2009

These are a much better set of figures than the inflation ones we received yesterday. Indeed in some respects you might say that there is some consistency between the two as ordinarily one might expect higher inflation figures to be matched by better than expected unemployment figures. On this score our Gross Domestic Product figures […]

16 December 2009 by Shaun Richards

News

Read More...

UK Inflation Figures for November 2009

This morning has seen the release of the inflation figures for November 2009. The two main indices are as follows. The Consumer Price Index (which the Monetary Policy Committee targets) has risen from 1.5 to 1.9% and the Retail Price Index has risen from   -0.8 to +0.3 on an annual basis according to the Office of National […]

15 December 2009 by Shaun Richards

News

Read More...

Official and unofficial interest rates in the UK

This is a subject which has been concerning  me for some time. There are two main discrepancies. The first factor is the period where money market interest rates deviated quite substantially from the official UK base rate. This was between late 2007 and late 2009. The second is the current very wide divergence between the official […]

14 December 2009 by Shaun Richards

News

Read More...

Market Update Following the Pre Budget Report and Greek Re-Rating

This has been an interesting week in many ways. Some of these have been interesting under the Confucian definition of it being a curse to live in interesting times! Having had more time to digest the Chancellor’s Pre Budget Report the UK government bond market which rallied a little on the day fell heavily on […]

11 December 2009 by Shaun Richards

News

Read More...

The 2009 Pre Budget Report in the UK

Yesterday Chancellor of the Exchequer Alastair Darling stood up and gave us his economic forecasts for the future as well as outlining his plans for taxation. In the event it turned out to be something of a damp squib in an economic sense as many important factors like a breakdown of the claimed spending cuts […]

10 December 2009 by Shaun Richards

News

Read More...

Greece and the Euro/EU

Yesterdays downgrade of Greece’s credit rating by the Fitch rating agency has potentially far-reaching implications. Beyond the national implications there are also ones for the Eurozone as it is the first country in it to have a credit rating of less than investment grade A. This poses future problems for the European Central Bank but more […]

9 December 2009 by Shaun Richards

News

Read More...

Japan's situation update

Since my last post on Japan there have been some changes both in market levels and in policy from the Japanese government. Of course these matters are to an extent interrelated. Starting with the Japanese government there has been a fiscal stimulus announced this morning of 7200 billion Yen which translates to $80.6bln or £49.5bln. […]

8 December 2009 by Shaun Richards

News

Read More...

Prices Revisited and Windfall Taxes

Readers of this blog will be aware that I feel that determining what a price is has become more complicated in recent years. This is important as it means that a market based economy will operate less efficiently. It also means that determining the level of inflation will be very difficult at best. After all […]

7 December 2009 by Shaun Richards

News

Read More...
1 343 344 345 346 347