UK: Fiscally Focused on Frustrating Flows
The government is replacing its furlough scheme with a wage subsidy, which will support some partially-viable jobs. Many jobs will be lost,...
413 Views
UK: Retail Faces Painful Consumer Awakening
Retail sales grew again in August to sit 4% above pre-Covid levels. It remains supported by the rotation away from the greater value-added...
318 Views
BoE: More QE in Nov-20, Not Negative Rates
The BoE MPC voted unanimously in favour of no policy change at its September meeting, while focusing on the economic impact of Covid and Brexit...
290 Views
Dollar, Euro & Sterling in Focus, Asian Currencies Under the Radar Screen
Much of the market focus in recent months has been on major reserve currencies, namely: The US Dollar which, contrary to bearish expectations and...
309 Views
UK: Puny Pass-Through of VAT and EOHO
UK inflation data delivered another upside surprise in Aug-20 as restaurant prices were resilient again. Puny pass-through of EOHO and VAT should...
208 Views