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Top related persons:
Hussain Mehdi - 3 BoE - 2 Christine Lagarde - 1 BOE - 1 Andrew Bailey - 1 We'll - 1 Marcus Brookes - 1 Brookes - 1
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HSBC Asset Management - 3 European Central Bank - 2 U.S - 2 Bank of England - 2 ECB - 1 U.S . Federal - 1 City of - 1 LONDON - 1

Search resuls for: "Hussain Mehdi"


5 mentions found


☆ European Central Bank gives strong signal that cuts are on the way despite Fed uncertainty
  + stars: | 2024-04-11 | by ( Jenni Reid | ) www.cnbc.com   time to read: +2 min
Christine Lagarde, president of the European Central Bank (ECB), at a rates decision news conference in Frankfurt, Germany, on Thursday, March 7, 2024. The European Central Bank on Thursday held interest rates steady for a fifth straight meeting and gave its clearest signal yet of an upcoming rate cut, despite uncertainty over the U.S. Federal Reserve's next moves. In a press conference following the announcement, ECB President Christine Lagarde said this "important" new sentence was a "loud and clear indication" of the bank's current sentiment. The ECB made no direct reference to loosening monetary policy in its previous communiques. The central bank for the 20 countries that share the euro currency hiked its key rate to a record 4% in September.
Persons: Christine Lagarde, Hussain Mehdi Organizations: European Central Bank, ECB, U.S, U.S . Federal, HSBC Asset Management Locations: Frankfurt, Germany, U.S .
☆ Bank of England ends run of 14 straight interest rate hikes after cooler-than-expected inflation
  + stars: | 2023-09-21 | by ( Elliot Smith | ) www.cnbc.com   time to read: +5 min
A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021. LONDON — The Bank of England on Thursday ended a run of 14 straight interest rate hikes after new data showed inflation is now running below expectations. Investors on Wednesday ramped up bets that the Bank would pause its interest rate hiking cycle after U.K. inflation came in significantly below expectations for August. Thomas Verbraken, executive director of risk management research at MSCI, said the burning question is whether the Bank of England's Thursday decision signals the peak of the interest rate cycle. Forward looking indicators suggest the U.K. economy is already flirting with recession, a backdrop consistent with cooling wage growth and a policy pivot," Mehdi said.
Persons: BOE, Andrew Bailey, We'll, Marcus Brookes, BoE, Brookes, Thomas Verbraken, Hussain Mehdi, Mehdi Organizations: Bank of England, City of, LONDON, Bank, U.S, Monetary, MPC, Quilter Investors, U.S . Federal Reserve, Bank of England's, HSBC Asset Management, Bank of, Fed, European Central Bank Locations: City, City of London, Bank of England's
☆ Hot UK labour market raises pressure on BoE to act again
  + stars: | 2023-06-13 | by ( Andy Bruce | ) www.reuters.com   time to read: +3 min
Employment and wage growth soared during the three months to April while the unemployment rate fell, according to the Office for National Statistics. Outside of the COVID-19 pandemic, when wage statistics were skewed by furlough schemes, it was the highest reading on record. Including bonuses, wage growth jumped to 6.5% from 6.1% previously, but it still lagged inflation, meaning Britons are suffering declining pay in real terms. "With the possibility of higher-for-longer rates, a UK recession looks unavoidable as tight monetary policy filters into the real economy - including the housing market," Medhi said. BoE officials are likely to note that the headline employment and wages data came in above all forecasts, while the unemployment rate was below all forecasts.
Persons: BoE, Sterling, Hussain Mehdi, Medhi, Andy Bruce, Sachin Ravikumar, Sarah Young, Kate Holton, Bernadette Baum Organizations: Reuters, Bank of England, Office, National Statistics, RBC, HSBC Asset Management, Thomson
☆ Bank of England hikes rates by 25 basis points, no longer sees recession
  + stars: | 2023-05-11 | by ( Elliot Smith | ) www.cnbc.com   time to read: +5 min
A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021. LONDON — The Bank of England on Thursday hiked interest rates by 25 basis points and revised its economic projections to now exclude the possibility of a U.K. recession this year. The Monetary Policy Committee voted 7-2 in favor of the quarter-point increase to take the main bank rate from 4.25% to 4.5%, as the bank reiterated its commitment to taming stubbornly high inflation. "In the context of resilient economic activity, we think there is a good chance of the Bank Rate peaking at 5% by the August meeting. "As rates moves deeper into restrictive territory and credit conditions tighten, a policy-induced recession becomes almost inevitable."
☆ A 'cocktail' of sticky inflation and a tight labor market boosts Bank of England rate hike bets
  + stars: | 2023-02-16 | by ( Elliot Smith | ) www.cnbc.com   time to read: +3 min
Andrew Bailey, Governor of the Bank of England, attends the Bank of England Monetary Policy Report Press Conference, at the Bank of England, London, Britain, February 2, 2023. Pool | ReutersLONDON — A tight labor market and comparatively slow return to earth for inflation means the Bank of England is likely to press ahead with a further interest rate hike in March, economists suggest. "However food prices remain a major driver of U.K. inflation, continuing their upwards march in January with an eye-watering 16.8% increase. Bank of England Governor Andrew Bailey last week urged workers and employers to consider the expected downward inflation trajectory when negotiating pay settlements. "The cocktail of a tight labour market and inflation failing to cool off quickly will remain a cause of concern for Bank of England policymakers, which may mean the Bank's aggressive strategy stays in place," Carter added.
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