UK Archive

RE: BOE letter

[Skip to the end] (an interoffice email) > >   On Tue, Jun 17, 2008 at 7:58 AM, DV wrote: > >   Mervyn King was required this morning to write a letter to the >   Chancellor explaining why inflation was greater then 3% in the UK >   (released this morning at 3.2% vs. 3% previously). The letter ...Read More

FT: Detail of BOE plan

Looks functionally the same as direct lending to the banks vs their mortgage-backed securities. Don’t know why they are taking this indirect route. Maybe because the Fed is also doing a security lending facility vs direct lending, and the BOE doesn’t want to show them up by doing it right as a ...Read More

2008-03-27 UK Highlights

Things may have started turning up in March in the UK as well as the US and the eurozone. U.K. Business Spending Reaches Highest Since 2005 (Bloomberg) – U.K. business investment rose to the most in 2 1/2 years in the fourth quarter, led by manufacturing companies. Investment in equipment, vehicles and ...Read More

Lukoil cuts German oil exports by pipeline on pricing

Russia exercising it’s pricing power as a swing producer as well. Lukoil Cuts German Oil Exports by Pipeline on Pricing (Update1) by Torrey Clark and Thom Rose (Bloomberg) OAO Lukoil, Russia’s largest independent oil producer, may cut March shipments of crude oil to Germany by pipeline, continuing the halt ordered yesterday because ...Read More

U.K. mortgage approvals drop to least since 1999

U.K. Mortgage Approvals Drop to Least Since 1999 By Jennifer Ryan (Bloomberg) U.K. mortgage approvals dropped in December to the lowest in at least nine years, and consumer credit fell, threatening the outlook for economic growth. Lenders granted 73,000 loans for house purchase, down from 81,000 in November and the least since ...Read More

Libor Settings, Eur, and UK leading the way lower…

Currency TERM Today Monday Friday Thursday Wednesday Tuesday USD ON 4.40 4.4175 4.3025 4.30 4.34 4.4325   1M 4.94875 4.965 4.99625 5.0275 5.1025 5.20375   3M 4.92625 4.94125 4.96625 4.99063 5.057 5.11125 EUR ON 3.8275 3.98875 3.85875 4.04625 4.055 4.05   1M 4.58813 4.92375 4.93375 4.935 4.945 4.9225   3M 4.84875 4.94688 ...Read More

UK Inflation expectations rise

Sends a chill up the spine of any red blooded mainstream central banker! Inflation expectations rise Thu Dec 13, 2007 9:37am GMT – Britons’ expectations of future inflation rose to hit a series high of 3.0 percent in November, well above the actual rate of inflation, a survey by the Bank of ...Read More

Re: BBC E-mail: UK interest rates trimmed to 5.5%

(email) Philip, Yes, thanks. Might be to ‘give room’ to the Fed or maybe the modern version of ‘trade wars’ being played out? The UK is saying to the US there’s a limit to using the $ as a ‘weapon’ to ‘steal’ agg demand. They see it as a game of chicken- ...Read More