Archive for March, 2007
Iran worries continue to push up Oil Prices
Oil hit 6 month highs yesterday as the developing news story of the week, the capture of 15 British Sailors by Iran, continues to threaten supply. The price of Light Sweet Crude rose to $66 per barrel and Brent Crude to $67 per barrel. Iran is the world’s 4th largest exporter of oil and although [...]
March 30, 2007
Tags: inflation, Interest Rates, Oil Posted in: Uncategorized 
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UK 4th Quarter GDP Revised Down
In the UK 2006 fourth-quarter Gross Domestic Product (GDP), the key gauge of economic growth, was revised down to 0.7% from 0.8%. Losses were limited however as the figure still contributed to an overall growth figure of 3% for the year as a whole and did little to dampen expectation that the next move by [...]
March 29, 2007
Tags: Bank of England, Interest Rates, MPC Posted in: Uncategorized No Comments
Bernanke plays down need for rate cuts
Ben Bernanke challenged market expectations of early US interest rate cuts on Wednesday, saying he remained comfortable with rates on hold in spite of recent adverse economic data. However, the Federal Reserve chairman said the risks to both inflation and growth had increased in the past few weeks and the US central bank would be [...]
March 28, 2007
Tags: Bernanke, FED, FOMC, Interest Rates Posted in: Uncategorized No Comments
New homes sales weaken loans markets
The US refinancing market has started the week under pressure following weaker than expected New Home Sales figures for February. Lenders had received a boost towards the end of last week when Existing Home Sales figures came in above consensus. The mixed housing data only adds to the confusion surrounding the state of the US [...]
March 27, 2007
Tags: Interest Rates, new home sales Posted in: Uncategorized No Comments
Loans markets look for direction in data filled week
A slew of economic data, heavily loaded towards the back end of the week, might not be enough to give traders a clear indication of the direction and timing of monetary policy in the major economies. Despite the huge volume of data this week, the lack of influence of any one particular piece of news [...]
March 26, 2007
Tags: Bank of England, Interest Rates, Loan calculator Posted in: Uncategorized No Comments
Wall St consolidates gains
Hints that the Federal Reserve was no longer biased towards raising interest rates sparked a strong rally on Wall Street this week, raising investors’ hopes that the recent slump had run its course. While the Federal Open Market Committee statement on Wednesday was carefully worded, stirring debate about its meaning, the equity market’s response was [...]
March 23, 2007
Tags: FED, FOMC, Interest Rates Posted in: Uncategorized No Comments
Bank of England minutes surprise markets
The Bank of England minutes from the 8th March meeting released yesterday provided a surprise for the financial markets. Neither of the two hawks expected to vote for a rate increase did and one member, David Blanchflower actually voted for a rate cut. With the other 8 members voting to leave rates on hold the [...]
March 22, 2007
Tags: Bank of England, FED, Interest Rates Posted in: Uncategorized No Comments
UK Inflation unexpectedly rises in Feb
Data released yesterday showed Britain’s Inflation rate unexpectedly rose in February further above its target keeping expectations alive of another interest rate hike this year. Consumer Prices rose by 0.4% last month taking the annual rate to 2.8% still someway above the Central Banks 2.0% target. The RPI measure of inflation hit its highest level [...]
March 21, 2007
Tags: FED, inflation, Loan calculator Posted in: Uncategorized No Comments
Bank of Japan leaves interest rates on Hold
The Bank of Japan kept interest rates on hold overnight leaving the overnight call rate target at 0.5%. The Financial markets response was limited as the unanimous 9-0 vote was widely expected. The Central Bank raised its key policy rate to 0.5% from 0.25% last month by an 8-1 vote, judging that the economy would [...]
March 20, 2007
Tags: Bank of Japan, Loan calculator Posted in: Uncategorized No Comments
Interest Rates and inflation likely to dominate the week
The FOMC meeting on Wednesday and the accompanying statement are likely to be the focus for financial markets this week. Expectations remain for the Fed to leave rates on hold at 5.25% although some anticipate the statement may offer acknowledgement of softer growth and perhaps trouble in the sub prime lending sector. On that note, [...]
March 19, 2007
Tags: Bank of England, FOMC, Interest Rates Posted in: Uncategorized No Comments
