by Julian Benson | Aug 23, 2023
The British government transferred a record £14.3 bn to the Bank of England last month as interest rate hikes burdened the Treasury with heavy losses from quantitative easing (QE). Losses on QE measures have cost British taxpayers £30 bn in the past 11 months,...
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by Julian Benson | Aug 23, 2023
The pound continued to climb yesterday, gaining close to 0.3% against the euro as UK borrowing came in lower than forecast. After a sterling performance against the US dollar for the most part of Tuesday, the pound fell against the greenback marginally late afternoon...
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by Charles Purdy | Aug 22, 2023
The dollar slipped against the pound, euro and Chinese yuan yesterday, with the only real gain being against the yen. Today we will be hearing from several monetary policymakers as analysts prepare themselves for the Jackson Hole Symposium later in the week. There...
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by Charles Purdy | Aug 22, 2023
It was an unspectacularly positive day for the single currency, strengthening against almost all of its major rivals, including close to 1% against the yen and just a fraction against the pound. There wasn’t much data of interest yesterday, although PPI data suggest...
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by Charles Purdy | Aug 22, 2023
The pound stabilised yesterday against major currencies, in a quiet day for data. This morning we have seen Public Sector Net Borrowing for the UK at £4.3bn, less than expected. We will shortly get a reading for CBI Industrial Trends Orders, but the main event pf the...
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