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Top related persons:
Allan Monks - 3 JP Morgan - 2 BoE - 1 Goldman Sachs - 1 BoE Governor Andrew Bailey - 1 Rishi Sunak - 1 Bailey - 1 Dominic Bunning - 1
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Search resuls for: "Allan Monks"


6 mentions found


☆ Bank of England on brink of rate hike pause after inflation surprise
  + stars: | 2023-09-20 | by ( William Schomberg | ) www.reuters.com   time to read: +3 min
Investors piled into bets on the BoE keeping Bank Rate at 5.25% on Wednesday as soon as official data showed a surprise fall in the pace of price growth. Other analysts said they still thought a final BoE rate hike was the most likely outcome after a recent jump in global oil prices, but they stressed it could go either way. "We stick with our call for a hike, but now see this as a coin toss," JP Morgan economist Allan Monks said. British inflation is almost double the rate in the United States, where the Federal Reserve on Wednesday kept borrowing costs on hold. Last week, the European Central Bank raised rates to a record high but signalled that it was likely to pause.
Persons: BoE, Goldman Sachs, JP Morgan, Allan Monks, BoE Governor Andrew Bailey, Rishi Sunak, Bailey, Dominic Bunning, William Schomberg, Alex Richardson Organizations: Bank of England, Monetary, British, ECB, FX Research, HSBC, Federal Reserve, European Central Bank, Thomson Locations: United States
☆ JP Morgan lifts UK's 2023 economic growth forecast
  + stars: | 2023-08-11 | by ( ) www.reuters.com   time to read: +1 min
Customers shop at a fruit and vegetable stall at Portobello Road in London, Britain, March 31, 2023. REUTERS/Toby Melville/File PhotoAug 11 (Reuters) - J.P.Morgan on Friday raised its forecast for the UK's annual economic growth after official data showed a surprise increase for the second quarter and bolstered bets of more interest rate hikes. The brokerage now sees the economy growing 0.6% in 2023, up from 0.5% expected earlier. Data on Friday showed growth of 0.2% in the second quarter, against the consensus for a flat reading in a Reuters poll of economists. The Wall Street bank still expects the country to face a mild recession in the second half of 2024.
Persons: Toby Melville, Allan Monks, Aniruddha Ghosh, Devika Organizations: REUTERS, Thomson Locations: London, Britain, Bengaluru
☆ JPMorgan warns UK could see 'hard landing,' says interest rates could hit 7%
  + stars: | 2023-07-06 | by ( Anmar Frangoul | ) www.cnbc.com   time to read: +1 min
In June, the Bank of England increased interest rates for the 13th time in a row. The Bank of England could increase interest rates to 7% as it tries to tame inflation, according to JP Morgan, which said the risks of a hard landing for the economy are also rising. The analysis from JP Morgan Economist Allan Monks comes as U.K. homeowners face a significant jump in borrowing costs as they're usually linked to the central bank's main interest rate. In June, the central bank increased interest rates for the 13th time in a row, by 50 basis points — more than many expected — to 5%. He added: "This alone raises the risks of a hard landing next year, but we recognise that the policy rate required to control inflation is proving to be higher than most had expected."
Persons: JP Morgan, Morgan, Allan Monks, BOE, Monks Organizations: Bank of England Locations: U.S
☆ The UK's lagging economy shows some signs of recovery
  + stars: | 2023-02-27 | by ( ) www.reuters.com   time to read: +3 min
JP Morgan last week raised its projection for gross domestic output growth in 2023 to 0.4% from a previous estimate of 0.1%. Britain is the only Group of Seven (G7) economy still smaller than before the coronavirus pandemic. Below is a summary of recent gauges of the economy and how investors have increased their bets on future BoE rate hikes. Reuters GraphicsUK AS G7 LAGGARDDespite the improvement signs, Britain lags its peers in terms of its recovery from the pandemic. Data to the end of 2022 shows Britain is the only G7 economy yet to recover its level of the end of 2019.
☆ Analysis: Tough budget leaves UK's growth challenge unmet
  + stars: | 2022-11-18 | by ( William Schomberg David Milliken | William Schomberg | David Milliken | ) www.reuters.com   time to read: +5 min
Hunt, reminding lawmakers of his own past as an entrepreneur in marketing and publishing, made accelerating economic growth a priority in his budget speech to parliament on Thursday. Britain is badly in need of a growth fillip. It also cut its growth forecast for 2024 to 1.3% before a better couple of years thereafter with growth at 2.6% and 2.7%. It said Hunt's plan to cut public investment from 2024 would probably weigh on productivity growth - key to an economy's long-term prospects - beyond its five-year forecasts. "I have tried to avoid anything that damages long-term growth," Hunt told the BBC.
☆ Reversing UK confidence crash requires policy U-turn: economists
  + stars: | 2022-09-27 | by ( Andy Bruce | ) www.reuters.com   time to read: +2 min
Commuters, reflected in windows of an office, walk across London Bridge toward the financial district, in London, Britain, September 26, 2022. "The first step in regaining credibility is not saying incredible things," Summers said on Twitter on Tuesday. Register now for FREE unlimited access to Reuters.com RegisterSummers pointed to surging interest rates of long-dated British debt as a "hallmark of situations where credibility has been lost". On Monday the Bank of England and Treasury released statements in the hope of reassuring investors, with the central bank saying it would not hesitate to raise interest rates if needed. Register now for FREE unlimited access to Reuters.com RegisterEditing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.
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