Market Overview

19 February 2019 08:40

Maria Gregoriou

After seven Labour MPs quit the party, May’s own party tried to persuade her to take the threat of a no-deal divorce off the table, and the announcement that Honda’s Swindon plant is expected to close down yesterday, things are not looking so good on the Brexit front. Today the latest is that U.K. and European officials are working on a new legal text surrounding the Irish border backstop arrangement.
18 February 2019 09:40

Maria Gregoriou

The financial and political world have all eyes on the U.K. as the runup to Brexit is getting nearer and nearer. The constant back and forth from London to Brussels, the debates in the British parliament and the British economy have all taken up space on our daily newsfeeds.   The latest news from the U.K. economy is the first release of the Rightmove House Price Index for the year. The collected data – which provides a look into the strength of the U.K. housing market and the economy as a whole - shows that home-movers remain active.
15 February 2019 10:17

Maria Gregoriou

With only six weeks left until the official Brexit date, the U.K. is now set to compromise on its demands for a re-write of the Brexit agreement, according to Bloomberg. In latest Brexit news, the government is reducing its changes to the Irish border backstop arrangement and it will not push for a reopening of the withdrawal agreement. This new stand could help ease things out with Brussels, but it “risks making the agreement more difficult to sell to members of Parliament in London,” Bloomberg states.
13 February 2019 09:19

Maria Gregoriou

New Zealand’s official cash rate, as reported in the monetary policy statement released by the Reserve Bank of New Zealand, has remained unchanged at 1.75 percent. This rate is expected to stay at this level through 2019 and 2020, according to the report. The statement also revealed that employment is near its maximum sustainable level, but core consumer price inflation remains below the two percent target mid-point.
7 February 2019 08:43

Maria Gregoriou

Later today The Bank of England (BoE) will release its first Interest Rate publication for the year. The fact that the way towards Brexit, and its outcome, are still unsure, seems to put the growth of the British economy at a sluggish pace. Brexit is only 50 days away and this uncertainty may lead to BoE’s Monetary Policy Committee to vote to keep their benchmark borrowing rate unchanged at 0.75 percent, according to Reuters polls of economics. Experts have also said that policy makers could hold off raising rates until there is some clarity as to what will happen with Brexit.
28 January 2019 09:17

Maria Gregoriou

Reuters announced over the weekend that the Brexit date could be pushed back “by a couple of extra weeks.” This statement comes to light just before Parliament is scheduled to vote on Theresa May’s Plan B tomorrow. The extension will give lawmakers time to approve legislation, said the leader of the Commons, Andrea Leadsom. But how will the voting go on Plan B tomorrow, after May’s first Brexit plan was voted down by 432 votes to 202 votes in favour? The main difference between Plan A and Plan B is to the Irish backstop. According to The Guardian, these changes could give May a narrow win.
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