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Top related persons:
Paul Hollingsworth - 3 Goldman Sachs - 2 Andrew Bailey - 1 James Moberly - 1 Ibrahim Quadri - 1 Jari Stehn - 1 BoE - 1 Goldman - 1
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Frankfurt London Britain Sintra U.S North America Bank of Japan Japan
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European Central Bank - 3 ECB - 3 BNP - 2 Bank of - 2 Fed - 2 FRANKFURT - 1 Shoppers - 1 Bank of England - 1

Search resuls for: "Paul Hollingsworth"


10 mentions found


☆ European Central Bank is set for hawkish pause as the economy turns south
  + stars: | 2023-09-13 | by ( Annette Weisbach | ) www.cnbc.com   time to read: +1 min
FRANKFURT — The European Central Bank is set to keep rates steady Thursday as economic activity in the euro area decelerates at a faster pace than previously expected. Shoppers in the region are holding back on spending as inflation eats up their disposable income, while the manufacturing sector has been in decline since around mid-2022. But whether this will prove to be the case is a still open debate inside the walls of the Frankfurt institution. "As a result, price pressures might be less sensitive to weaker growth than would typically be expected." Headline inflation for August was slightly higher than expected at 5.3%.
Persons: Paul Hollingsworth Organizations: FRANKFURT, European Central Bank, Shoppers, BNP, ECB Locations: Frankfurt
☆ Bank of England's next move divides economists as data paints a mixed picture
  + stars: | 2023-08-02 | by ( Elliot Smith | ) www.cnbc.com   time to read: +5 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 — Market expectations are split over the Bank of England's next monetary policy move on Wednesday, as policymakers near a tipping point in their fight against inflation. The other 38% of market participants expect a second consecutive 50 basis point hike, after the central bank surprised markets with a bumper increase in June. watch nowThe British economy has proven surprisingly resilient, despite a run of 13 consecutive rate hikes from the Bank of England. "While core inflation surprised to the downside in June, services inflation momentum remains strong.
Persons: Andrew Bailey, Goldman Sachs, James Moberly, Ibrahim Quadri, Jari Stehn, BoE, Goldman, —, Abbas Khan, Mariano Cena, Silvia Ardagna, Matthew Swannell, Paul Hollingsworth, Andrew Bailey's Organizations: Bank of England, Press, Bank of, Monetary, British Retail Consortium, MPC, Fed, ECB, U.S . Federal Reserve, European Central Bank, PMI, Bank of England's, Barclays, BNP Paribas Locations: London, Britain, Sintra
☆ A 'momentous week' ahead as the Fed, ECB and Bank of Japan near pivot point
  + stars: | 2023-07-24 | by ( Elliot Smith | ) www.cnbc.com   time to read: +7 min
Bloomberg | Bloomberg | Getty ImagesThe U.S. Federal Reserve, Bank of Japan and European Central Bank will all announce key interest rate decisions this week, with each potentially nearing a pivotal moment in their monetary policy trajectory. The Fed Each central bank faces a very different challenge. "The FOMC will, however, maintain a tight monetary policy stance to aid continued softening in demand and consequently, inflation." Several analysts over the past week have suggested that policymakers will remain "data dependent," but push back against any talk of interest rate cuts in the near future. ECB Chief Economist Philip Lane last month warned markets against pricing in cuts to interest rates within the next two years.
Persons: Goldman Sachs, Michael Cahill, Cahill, Steve Englander, Englander, Philip Lane, Paul Hollingsworth, Christine Lagarde, Hollingsworth Organizations: Bank of Japan, U.S, Bloomberg, Getty, . Federal Reserve, European Central Bank, ECB, Federal, Moody's Investors Service, Standard Chartered, Downside, Fed, BNP, Bank of Locations: U.S, North America, Bank of Japan, Japan
☆ Silicon Valley Bank collapse throws up uncertainty for a European Central Bank hoping to hike rates
  + stars: | 2023-03-15 | by ( Annette Weisbach | ) www.cnbc.com   time to read: +1 min
Christine Lagarde, president of the European Central Bank (ECB). Bloomberg | Bloomberg | Getty Imageswatch nowCore inflation — the key focus right now for policymakers — accelerated to 5.6% from 5.3%. That is reinforcing expectations that the European Central Bank will have to push borrowing costs ever higher. The ECB's key rate currently stands at 2.5%. Elsewhere, ECB watchers are also monitoring a lack of unity at the Frankfurt institution when it comes to what level its benchmark rate will peak at.
☆ UK's taxes are at a 70-year high. But its finance minister won't splash the cash at upcoming Budget
  + stars: | 2023-03-13 | by ( Elliot Smith | ) www.cnbc.com   time to read: +4 min
U.K. Finance Minister Jeremy Hunt has said Britain should have a "20-year plan" to become the world's next Silicon Valley. Public sector borrowing has also undershot by around £30 billion year-to-date, economists noted this week, in part reflecting higher-than-expected tax receipts. This will lend credence to Hunt's aims of bringing public sector net borrowing below 3% by 2027/28. LONDON — British Finance Minister Jeremy Hunt will deliver the government's Budget commitments on Wednesday against a better-than-expected economic backdrop, but economists expect him to stay cautious for now. The U.K. economy flatlined in the final quarter of the year to narrowly avoid entering a technical recession, though suffered a sharp slump in December.
☆ Sticky inflation means the European Central Bank could be far from a policy pivot
  + stars: | 2023-02-01 | by ( Annette Weisbach | ) www.cnbc.com   time to read: 1 min
The European Central Bank is set to hike interest rates again on Thursday, with policymakers in Frankfurt shifting their focus to core inflation and trying to predict when sky-high consumer prices might fall. Euro area inflation has dipped in the last few months as energy prices have come down. But core inflation, which strips out energy and food, keeps on rising at a steady pace. The euro area economy is proving more resilient than expected and even avoided a contraction in the last quarter of the year. France and Spain recorded growth which made up for the shrinking output of Italy and Germany.
☆ BofA Promoted 93 New MDs in Global Markets — Here Are the Names
  + stars: | 2023-01-26 | by ( Alex Morrell | ) www.businessinsider.com   time to read: +2 min
Bank of America announced 93 new managing directors in Global Markets on Thursday. The division in 2022 saw sales and trading revenues climb to its highest mark since 2010.Insider has all the names of the newly promoted MDs. On Thursday the bank announced a new class of 360 managing directors, including 93 from the firm's Global Markets division — up from 86 last year. The bank's Global Corporate and Investment Bank promoted 87 new MDs. BofA made $16.5 billion in 2022 from sales and trading — including a fourth-quarter record of $3.7 billion — the highest tally for the firm since 2010.
☆ Britain's new 'winter of discontent' deepens as widespread strikes mount over festive period
  + stars: | 2022-12-14 | by ( Elliot Smith | ) www.cnbc.com   time to read: +7 min
In recent weeks, upcoming strike actions have been announced by nurses, rail workers, postal workers, ambulance workers, airport staff, Border Force agents, highway workers, Eurostar staff, civil servants, bus drivers, firefighters, charity workers, meteorologists and offshore workers. For the public sector, real earnings were 5 percentage points lower, and Hollingsworth suggested that the growing gap had become "unsustainable." "I think there's clearly a lot of pressure here for some catch-up on the public sector side of things, and it's clear that there is that labor bargaining power there." "However, the gap between private and public sector pay narrowed slightly, with private sector pay up 6.9%, while public sector pay is up by 2.7%." However, with negotiations remaining fraught and unions showing no signs of backing down, he said some catch-up on public sector pay growth will likely be required to prevent further disruption.
☆ Transitory inflation talk is back. But economists say higher prices are here to stay
  + stars: | 2022-11-30 | by ( Elliot Smith | ) www.cnbc.com   time to read: +6 min
Andrew Kelly | ReutersGlobal markets have taken heart in recent weeks from data indicating that inflation may have peaked, but economists warn against the return of the "transitory" inflation narrative. Chief Investment Officer Christian Nolting told CNBC last week that the market's pricing for central bank cuts in the second half of 2023 were premature. "So from our perspective, we think inflation is going to be lower next year, but also higher than compared to previous years, so we will stay at higher levels, and from that perspective, I think central banks will stay put and not cut very fast," Nolting added. Although goods inflation will likely slow, BNP Paribas sees services inflation as stickier in part due to underlying wage pressures. "Admittedly, we think inflation volatility is still likely to fall from its current extremely high levels.
☆ Rishi Sunak is worth almost $850 million, making him Britain's richest prime minister. Here's why that could be a big problem.
  + stars: | 2022-10-30 | by ( Ryan Hogg | Beatrice Nolan | ) www.businessinsider.com   time to read: +6 min
UK Prime Minister Rishi Sunak is worth about $850 million according to the Sunday Times Rich List. With wealth that rivals King Charles III, the former finance minister is the richest UK leader ever. The 42-year-old former chancellor (finance minister) has a net worth of £730 million ($847 million) according to the Sunday Times Rich List, and was ranked 222nd in May. Queen Elizabeth II was estimated to be worth about $440 million before her death, according to the Sunday Times. The ex-finance minister has a 19th century, Grade II-listed mansion in Yorkshire as well as a London home worth millions.
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