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Oil on brink of $50 ahead of UK inflation report – business live

Discussion in 'Market News' started by Lily, May 17, 2016.

  1. Lily

    Lily Forum Member

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    All the day’s economic and financial news, as investors await the latest UK consumer prices index report at 9.30am

    7.37am BST

    Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

    A few months ago, many commentators were fretting about the threat of deflation. But with energy prices picking up, those fears look increasingly ill-founded.

    Many investors seem to hope this ‘Goldilocks’ economy will persist, whereby there is enough growth and inflation to keep things moving but not enough to persuade the FOMC to hike interest rates.

    Yesterday we heard from the Richmond Fed’s Jeffrey Lacker who stated that there remained a strong case for a June rate rise, however he is not on the voting committee this year, unlike the Boston Fed’s Eric Rosengren who is, and who has a history of leaning to the dovish side.

    His comments last week about the markets potentially mispricing the timing of a Fed move on rates appear to suggest he is leaning towards a rate rise in the next few months.

    So CMA review on banking is out: proposes requiring banks to set a monthly maximum charge for unarranged overdrafts on current accounts.

    CMA claims its proposals for the banking sector will save customers £1bn over five years

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