Mark Rickard (Columnist)
THE minutes of the Bank of England’s latest meeting offer a description of the BOE Monetary Policy Committee, made up of nine experts delivering their predictions for the UK economy.
With news of more jobs being created in the UK, but lower wages, Mark Carney will again be asked ‘explain’ his economic projections and strategy for the UK.
Low-wage inflation coupled with rising consumer price inflation is, of course, ammunition for Labour against the Government and adds to the debate for a balanced approach to UK economic growth. Despite this, Sterling has been strong, trading close to 1.2650 against the Euro at times.
In Europe, despite what seems to be a healthy summer in the Costas, they are struggling to gain traction. Business sentiment in Germany was lower last week and Portuguese banking came under fire, as BES defaulted on some corporate bond payments.
A new EU President, Jean Claude-Juncker from Luxembourg was ‘nominated’ despite Mr Cameron’s absolute disdain at the choice, and EU process for nomination… it’s just not cricket is it?
For the Euro, none of the above helped – it continues to struggle.
This week there is more data from Germany, which if we take the business sentiment number into account, optimism for improvement will be low!
On the sunny Costa del Sol we are pleased to see a definite increase in Brits house hunting for retirement or their dream holiday home.
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