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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets can remain resilient without imminent rate cuts, strategist saysLindsay James, investment strategist at Quilter Investors, discusses the state of the U.S. economy and why markets will be focused more on earnings growth.
Persons: Lindsay James Organizations: Quilter Investors Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of England could cut rates before the Fed as U.K. inflation eases, strategist saysLindsay James, investment strategist at Quilter Investors, outlines the outlook for global monetary policy and stock markets.
Persons: Lindsay James Organizations: Email Bank of England, Fed, Quilter
European markets head for mixed open as sentiment falters
  + stars: | 2023-11-21 | by ( Holly Ellyatt | ) www.cnbc.com   time to read: +1 min
Jeremy Hunt on the second day of the Conservative Party Conference on Oct. 2, 2023, in Manchester, England. U.K. public sector net borrowing excluding banks was £14.9 billion ($18.68 billion) in October, the second-highest level of borrowing for the month since records began in 1993. It was also higher than consensus forecasts and a March forecast by the independent Office for Budget Responsibility of £13.7 billion. Tax receipts were £2.7 billion higher year on year at £57.9 billion. It comes ahead of a government budget update Wednesday in which Finance Minister Jeremy Hunt may announce tax cuts as he seeks to prioritize growth, according to the BBC.
Persons: Jeremy Hunt, Ruth Gregory, Hunt, Gregory said, Gregory, Lindsay James, — Jenni Reid Organizations: Conservative Party Conference, Capital Economics, Quilter Investors Locations: Manchester, England
Food and non-alcoholic beverages also contributed to the easing of inflation, with the annual rate falling to its lowest since June 2022. The largest downward contribution came from housing and household services, the Office for National Statistics revealed, where the annual rate for CPI hit the lowest since records began in January 1950. Core CPI — which excludes volatile food, energy, alcohol and tobacco prices — fell to an annual 5.7% in October from 6.1% in September. LONDON — U.K. inflation fell sharply in October to 4.6% from 6.7% the previous month, hitting a two-year low. The drop was welcome news for Downing Street after Prime Minister Rishi Sunak committed to halving U.K. inflation back in January, when the annual CPI rate was running above 10%.
Persons: Rishi Sunak, Lindsay James Organizations: National Statistics, CPI, Reuters, LONDON, Bank of England, Downing, Bank of England's, Quilter Investors, Monetary
The U.K. economy flatlined in the third quarter, initial figures showed Friday. Services sector output dropped 0.1% on the quarter, but the decline was offset by a 0.1% increase in construction performance, while the production sector flatlined. U.K. Chancellor of the Exchequer Jeremy Hunt said high inflation remains the "single greatest barrier to economic growth" in the country, with the consumer price index remaining at 6.7% year-on-year in September. While somehow avoiding a recession this year, today's no growth reading means the UK economy is flatlining with only 0.2% economic growth in the last six months." As the Bank of England stated earlier this month that more than half of the impact of higher interest rates on the level of GDP is still to come through, the U.K. economy faces growing headwinds as we approach 2024."
Persons: Jeremy Hunt, Hunt, Lindsay James Organizations: Gross, Services, Chancellor, Quilter Investors, Bank of England Locations: Canary, London, U.K
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