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UK Economic Calendar

 
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Author UK Economic Calendar
HenryTo
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PostPosted: Sat Jul 28, 2007 9:49 am    Post subject: UK Economic Calendar Reply with quote
This is for next week, along with some commentary on the Bank of England meeting, etc. Courtesy of Global Insight:

http://www.globalinsight.com/Perspective/PerspectiveDetail10087.htm
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Post new topic   Reply to topic    MarketThoughts.com Forum Index -> The Europe Board
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dknoester
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PostPosted: Thu Feb 07, 2008 11:00 am    Post subject: U.K. stocks slammed on earnings, bank caution Reply with quote
http://www.marketwatch.com/news/story/london-markets-uk-stocks-slammed/story.aspx?guid=%7BE502E66A%2D3DED%2D4822%2DB684%2DDE21E75C9490%7D&dist=hplatest

"Economic confidence is sliding fast, and U.K. growth looks set for a major slowdown this year. The Bank of England has ended up well behind the curve on easing, and its concerns about inflation risks are entirely to blame," said David Brown, chief economist for fixed income at Bear Stearns.

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HenryTo
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PostPosted: Sat Nov 03, 2007 1:52 am    Post subject: Reply with quote
Global Insight believes that the Bank of England will again stand pat on interest rates on Thursday, but believes that interest rate cuts are inevitable starting in February of next year:

http://www.globalinsight.com/Perspective/PerspectiveDetail10912.htm
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rffrydr
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PostPosted: Fri Aug 10, 2007 7:18 am    Post subject: Reply with quote
UK Banks starting the loose the consumer, hint:

Quote:
HEADLINE: UK mortgage woes LEX COLUMN

BODY:


A perfect storm is brewing in the UK mortgage market, whipping competition among lenders to unusually ferocious levels. For one thing, rising interest rates have started - at last - to choke demand. Figures from the British Bankers' Association, speaking for 12 of the country's 15 largest lenders, show that house purchase approvals in June were down 11 per cent year-on-year. Another inducement to keener pricing comes with this year's Basel II regime, under which mortgage players will see their capital requirements fall, relative to other lenders' needs.

Then there is a renewed assault on the market from HBOS. The UK's largest lender by stock of loans vowed last week to make up lost ground. During the first quarter, its attempt to reduce the pricing gap between new and existing customers saw the bank's share of new lending slip to low single figures, its worst level for seven years and a fraction of its normal 15-20 per cent share of new business.

At interim results over the past fortnight, most big lenders estimated reductions of between 5 and 8 basis points to overall net interest margins - which are already as low as 50bp for new business being written. That is getting close to the bottom of acceptable returns on a product still absorbing substantial chunks of capital, even with the new Basel concessions. And as higher interest rates are digested, the proportion of borrowers in arrears - currently about 1 per cent across the industry - will surely rise, jacking up costs.

Poor though the returns on mortgages are, they may be one of the few retail banking battles worth fighting. Credit card revenues fell by4 per cent year-on-year in June, says the BBA, while unsecured loans and overdrafts are on a long-term downward trend. Current accounts still have tiny margins. The UK's main mortgage banks have significantly underperformed the European sector year-to-date. The market's distaste looks well founded.


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Goodfella
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PostPosted: Sat Jul 28, 2007 10:09 am    Post subject: Reply with quote
"While a back-to-back 25-basis-point hike in interest rates is very unlikely next Thursday, it cannot be totally ruled out given faster, above-trend growth in the second quarter "



it's totally ruled it out. in march they didnt hike because of market turmoil at the time. the ftse's had its biggest one day drop in 4 years last week
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