Ear to the Ground

It was a big week for the UK in terms of economic data being released. Although a lagging indicator, it was good to see the UK economy exit recession in the first quarter of 2024.

Ear to the Ground

Very little economic data from the UK this week to attract the attention. Perhaps the most headline grabbing release was the Nationwide Housing Prices survey to April which showed month on month values fell 0.4%

Ear to the Ground

Focus was on the Bank of Japan this week as they met to discuss interest rate and monetary policy. As expected, they decided to keep their short term interest rate unchanged at 0%-1%.

Ear to the Ground

Inflation data was the key focus of attention for UK investors this week. Year on year, the consumer price index rose by 3.2%.

Ear to the Ground

Whilst we have seen a plethora of economic data this week there can be no doubt that stealing the show was US inflation data.

Ear to the Ground

Eyes were focussed on US economic data releases this week, with little coming out of the UK. There was positive news for the US economy with the release of manufacturing data to March.

Ear to the Ground

After the flurry of central bank activity last week, the economic calendar has been a little more sedate. In the UK there has been little data to breakdown

Ear to the Ground

This week was one of central bank domination. First up we had the Bank of Japan who, after eight years of negative rates, hiked their short term interest rate from -0.1% to a range of 0%-0.1%.

Ear to the Ground

UK economic data releases took a back seat in what was Budget week. In terms of the predictions for inflation and economic growth announced, it was pleasing to hear that the Office for Budget Responsibility (OBR)

Ear to the Ground

Very little economic data out of the UK this week, with the Nationwide House Price Index the only real topic of discussion. Year on year, we saw the first increase in the last 12 months, rising 1.2%.