Tag: above

Brazil in unexpected interest rate cut

Brazil in unexpected interest rate cut

Brazil’s central bank has cut the country’s key interest rate to 12% from 12.5% - a move which surprised economists. However, the bank said there had been a “substantial deterioration” in the outlook for the global economy and that was its reason for the rate cut. One analyst said the rate cut is a “huge [...]

September 1, 2011 | 0 Comments More
South Korea inflation jumps to three-year high

South Korea inflation jumps to three-year high

Statistics Korea has today revealed South Korea’s inflation rate jumped to a three-year high of 5.3% in August as food costs continued to rise. The rate is up from 4.7% in July and represents the eighth consecutive month that inflation has been above the central bank’s target of 4%. Inflationary pressures are rife throughout the [...]

September 1, 2011 | 0 Comments More
UK inflation jumps to 4.4% in July

UK inflation jumps to 4.4% in July

The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) rose to annual rate of 4.4% last month after easing to 4.2% in June. Analysts had expected the figure to rise slightly to 4.3%. Higher inflation continues to be led by rising food costs – which grew by 6.2% in July, while clothes [...]

August 16, 2011 | 0 Comments More
ECB lifts interest rates to 1.5%

ECB lifts interest rates to 1.5%

The European Central Bank (ECB) has today elected to lift interest rates from 1.25% to 1.5% - the second increase since April. The move comes to tame rising inflation in the 17-member euro zone and was widely expected by analysts and more rate rises are on the cards. Inflation in the euro zone currently stands [...]

July 7, 2011 | 0 Comments More
UK inflation could hit 5% this year

UK inflation could hit 5% this year

According to the Bank of England, inflation could reach 5% later this year, driven higher by rising energy costs. Energy costs are rising due to the surge in crude oil on the back of the ongoing political unrest in North Africa and the Middle East. In its latest quarterly inflation report, the Bank said upward [...]

May 11, 2011 | 0 Comments More
Euro zone inflation rises to 2.7% in March

Euro zone inflation rises to 2.7% in March

Eurostat has revealed inflation in the 17-member euro zone rose to 2.7% in March - remaining above the European Central Bank’s (ECB) target of just below 2%. Rising inflation in the region led the ECB to lift interest rates this month from 1% to 1.25% – for the first time in almost three years. The [...]

April 16, 2011 | 0 Comments More
MPC’s Posen expects inflation to fall to 1.5% by mid-2012

MPC’s Posen expects inflation to fall to 1.5% by mid-2012

Bank of England policymaker Adam Posen believes inflation will plunge to 1.5% by the middle of next year. His expectation is for a much sharper fall than his fellow policy members. The American economist is so certain of his prediction that he has threatened to step down from the Committee, when his three-year term ends [...]

March 29, 2011 | 0 Comments More
Inflation surge prompts Governor to write letter to Chancellor

Inflation surge prompts Governor to write letter to Chancellor

The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) rose to an annual rate of 4% in January – the highest rate since November 2008. The latest figures takes inflation to double the target of 2% – where it has been for more than a year. The latest figure prompted Governor of [...]

February 15, 2011 | 0 Comments More
Slim chance of interest rate rise this week

Slim chance of interest rate rise this week

According to some economists, there is a very small chance that the Bank of England could raise interest rates when it meets later this week. The Monetary Policy Committee (MPC) commences its two-day meeting on Wednesday and City bank JP Morgan believes there is a 40% chance that rates will be lifted from their historic [...]

February 7, 2011 | 0 Comments More
Euro zone inflation exceeds ECB target

Euro zone inflation exceeds ECB target

The European Union’s statistics office Eurostat has today revealed inflation in the euro zone rose more than expected in January. Inflation rose 2.4% on an annual basis in January, up from 2.2% the previous month and continues to exceed the European Central Bank’s (ECB) target of just below 2%. According to economists, the increase was [...]

January 31, 2011 | 0 Comments More
Indian inflation rate falls in line with expectations

Indian inflation rate falls in line with expectations

Figures today revealed India’s wholesale price inflation rate fell last month to 7.48%, from 8.58% the previous month - in line with expectations of 7.50%, but still significantly above the central bank’s target of between 4% and 5%. The figures suggest the Reserve Bank of India (RBI) will keep interest rates on hold when it [...]

December 14, 2010 | 0 Comments More
UK inflation rises to 3.2% in October

UK inflation rises to 3.2% in October

The Office for National Statistics (ONS) has today announced Consumer Price Inflation (CPI) rose to an annual rate of 3.2% in October, up from 3.1% in September. The latest figure represents the eleventh consecutive month that inflation has been above the target of 2% and will prompt the Governor of the Bank of England, Mervyn [...]

November 16, 2010 | 0 Comments More
UK inflation to hold steady at 3.1% in October

UK inflation to hold steady at 3.1% in October

The Office for National Statistics (ONS) is scheduled to announce the UK inflation rate for October tomorrow morning, with analysts expecting the annual rate to hold steady at 3.1%. With inflation way above the 2% target, the Governor of the Bank of England, Mervyn King, will be forced to write a letter to Chancellor George [...]

November 15, 2010 | 0 Comments More
UK inflation holds steady at 3.1% in September

UK inflation holds steady at 3.1% in September

The Office for National Statistics (ONS) has today announced Consumer Price Inflation (CPI) held steady at the annual rate of 3.1% in September. The latest figure represents the tenth consecutive month that inflation has been above the Bank of England’s target of 2%. The figure did not surprise analysts, who had expected CPI to remain [...]

October 12, 2010 | 0 Comments More
UK inflation expected to remain above 3%

UK inflation expected to remain above 3%

The Office for National Statistics (ONS) is scheduled to announce the UK inflation rate tomorrow morning, with analysts expecting the annual rate to remain above the 3% mark. Last month, the ONS reported Consumer Price Inflation (CPI) remained unchanged at 3.1% in August - representing the ninth consecutive month that it has been above the [...]

October 11, 2010 | 0 Comments More
UK inflation expected to ease slightly in August

UK inflation expected to ease slightly in August

The Office for National Statistics (ONS) is scheduled to announce the UK inflation rate this morning, with analysts expecting the annual rate to be around 2.9% - representing the ninth consecutive month that it has been above the Bank of England’s target of 2%. Last month, the ONS reported Consumer Price Inflation (CPI) eased to [...]

September 14, 2010 | 0 Comments More
UK inflation eases to 3.2% in June

UK inflation eases to 3.2% in June

The Office for National Statistics (ONS) has today announced Consumer Price Inflation (CPI) eased further to 3.2% in June - down from 3.5% in May. However, the rate was slightly higher than the 3.1% economists expected but has eased from the 17-month high of 3.7% in April. While the level still far exceeds the 2% [...]

July 13, 2010 | 0 Comments More
House prices register May dip

House prices register May dip

House prices dipped by 0.4% in May, following a 0.1% decline in April, Halifax has reported. However, taking an average of the latest three months, the value of the typical home increased 6.9% on the same period of 2009, reflecting the biggest annual rate of change since October 2007 (8.9%). Prices are therefore 8.3% above [...]

June 4, 2010 | 0 Comments More
Bank of England unveils Quarterly Inflation Report

Bank of England unveils Quarterly Inflation Report

In its latest Inflation Report, the Bank of England is predicting that inflation would remain above the 2% target for the remainder of 2010. Last month, it was revealed the UK’s rate of inflation rose to 3.4% in March, up from 3% in February. The CPI inflation rate is a benchmark for the Bank of [...]

May 12, 2010 | 0 Comments More