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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomist shares three troubling takeaways from latest UK economic dataSimon French, chief economist at Panmure Gordon, discusses his key takeaways from fourth-quarter U.K. gross domestic product data, which showed the economy slipping into a technical recession.
Persons: Simon French, Panmure Gordon Organizations: Panmure
U.K. pauseThe Bank of England opted to pause interest rate moves after 14 straight hikes, keeping its main policy rate at 5.25%. The decline came despite interest rate hikes generally boosting the value of a currency. Scandinavian inflationIn northern Europe, Norway and Sweden opted for rate hikes on Thursday and suggested that further tightening could be ahead. Norway's headline inflation rate was 4.8% in August, with core inflation at 6.3%. The Norges Bank forecast now indicates a policy rate of 4.5% through 2024, up from the current 4.25%.
Persons: Bank of England Andrew Bailey, BoE, Alastair Grant, ALASTAIR GRANT, Carsten Brzeski, BOE, Andrew Bailey, Paul Dales, Simon French, Panmure Gordon, Thomas Jordan, Jordan, Ida Wolden Bache, Bache Organizations: Bank of England, The Bank of England, Getty, Afp, ING, CNBC, of England, Capital Economics, U.S . Federal, HSBC, Panmure, Swiss National Bank, European Central Bank, ECB, U.S, Norway's Norges Bank, Norges Bank Locations: London, U.K, Paul, Switzerland, Swiss, Europe, Norway, Sweden, Norway's
Sunak has reiterated his "total support" for the Bank of England and under fire Governor Andrew Bailey. Meanwhile, economic growth has all but stagnated and public debt has surpassed 100% of gross domestic product for the first time since March 1961. "What is perhaps surprising is that the energy shock in the U.K. was larger than in most of mainland Europe." In a recent CNBC-moderated panel at a monetary policy forum in Sintra, Portugal, Bailey noted that the U.K. labor force is unique in remaining below its pre-Covid levels. Thanos Papasavvas, founder of ABP Invest, also alluded to the unique susceptibility of the U.K. to high inflation, but said the Bank of England should have been alive to this far earlier.
Persons: Sunak, Andrew Bailey, STEFAN ROUSSEAU, Rishi Sunak, Shaan Raithatha, CNBC's, We've, they've, Raithatha, we've, Richard Flax, Panmure Gordon, Simon French, Bailey, it's, Brexit, Catherine Mann, It's, Panmure Gordon's, French, Thanos Papasavvas Organizations: Bank of England, Getty, Sunak's Conservative, The Bank of, Vanguard, CPI, CNBC, Bank, Monetary, Committee, Panmure, ABP Invest Locations: The Bank of England, U.S, Ukraine, Europe, Moscow, Sintra , Portugal, U.K, British
There's a 'Brexit element' to UK inflation, economist says
  + stars: | 2023-06-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a 'Brexit element' to UK inflation, economist saysSimon French, chief economist and head of research at Panmure Gordon, discusses the persistence of U.K. inflation and the role of both the government and Bank of England.
Persons: Simon French, Panmure Gordon Organizations: Panmure, Bank of England
Jefferies expects shares of U.K.-focused commercial real-estate stock Life Science REIT to rise by more than 60% over the next 12 months. The investment bank's prediction comes at a time when the global commercial real estate market has seen prices fall sharply over the past year . However, according to Jefferies, Life Science REIT will escape the brunt of the pressure facing the rest of the sector. These properties are then leased to "tenants operating in the life science sector," according to the company. The region is also set to benefit from the U.K. government's 10-year strategy, unveiled in 2021, to aid and develop the life science sector in the U.K.
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