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British pound eyes UK employment release
The British pound has started the week in positive territory. In the European session, GBP/USD is trading at 1.2166, up 0.17%. The pound had a rough week, falling by 0.74% after a hotter-than-expected US inflation report saw the US dollar climb sharply. It’s a busy week in the UK, with employment data on Tuesday, followed by inflation on Wednesday and retail sales on Friday. The Bank of England will be watching closely, with the inflation report being the key release of the three. The BoE meets next on November 2nd after pausing at the September meeting. The decision marked the first time after 14 consecutive rate ... (full story)
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Results from the Business Outlook Survey and the Business Leaders’ Pulse show that firms expect their sales growth to be subdued over the next 12 months. This slowdown in demand is reducing capacity pressures and weighing on businesses’ plans for investment and employment. Although cost and pricing pressures continue to moderate, they are still expected to be higher than normal in the coming year. Firms’ inflation expectations edged down but remain higher than they were before the COVID‑19 pandemic. Many expect returning inflation to the Bank of Canada’s 2% target will take longer than three years. Overview • Firms reported that economic activity has slowed across a broad range of indicators. Their expectations for sales growth—especially sales to domestic customers—continued to moderate. • Roughly half of businesses said that their pricing practices are not yet back to normal. On balance, firms are still planning to make larger and more frequent price increases than they did before the COVID‑19 pandemic. But they expect to raise their selling prices at a slower rate than in the past 12 months as the pace of increases in their input costs slows.Canadian Survey of Consumer Expectations—Third Quarter of 2023 • Consumers’ perceptions of current inflation remain elevated and are leading to persistently high expectations for inflation over the next 12 months. The gap between perceptions of inflation and actual inflation is unusually wide. This is likely because many consumers form their views based on their own shopping experience. Households with a large gap expect high price growth for essentials like food and housing. • Consumers’ expectations for interest rates one year from now also remain high. Many people think increases in interest rates are raising the cost of living and keeping inflation high. • The growing cost of living remains the most pressing concern for consumers. High inflation and rising interest rates have had a negative financial impact on most households and are causing more households than last quarter to reduce spending. post: SEPARATE BOC Q3 SURVEY ON CONSUMER EXPECTATIONS SHOWS 55% OF CANADIANS EXPECT A RECESSION THE NEXT YEAR, UP FROM 50% IN Q2 #News #Markets #CANADIAN #BOC #live post: Canada Business Outlook At Weakest Level Outside Recessions - Canada Firms See Fewer Hiring Shortages, Lower Wage Gains - Consumer Expectations For Wage Growth Reach A Record High
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post: ECB'S PRESIDENT LAGARDE TO MINISTERS: THE ECB IS WATCHING OIL FOR INFLATION RISKS.
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- Posted: Oct 16, 2023 12:22pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,046
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