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Moneycorp LogoDaily brief: Moneycorp

Still no change from BoE

Posted on: 10 May 2013

In the few minutes before the Bank released the MPC's verdict yesterday, sterling spiked half a cent lower, only to stage a complete recovery when it became clear that the Bank Rate would remain at 0.5%.

No change expected from Old Lady

Posted on: 9 May 2013

At a press conference yesterday Luca Montezemolo, the chairman of Ferrari, said his firm would produce no more than 7,000 cars this year, 4% fewer than in 2012, despite having orders for more than that.

Stimulus is the new austerity

Posted on: 8 May 2013

Pope Benedict's abdication could have planted ideas in the minds of venerated but geriatric world leaders who might be past their peak and would prefer to enjoy their twilight years out of the spotlight.

RBA rate cut dents Aussie

Posted on: 7 May 2013

It was not just the emptores who were being cautious on Friday and Monday; the venditores were on their guard as well. The result was two days of mostly narrow ranges and lack of direction.

EU finally cuts rates, now for Non-Farm Payrolls

Posted on: 3 May 2013

The surprise of the day was not that the ECB lowered the refinance rate by 0.25% to 0.50%, or that they cut the marginal lending rate by 0.50% to 1%, it was that fact that ECB President Mario Draghi would consider lowering rates further, into negative territory if required.

Is it time for the ECB to act?

Posted on: 2 May 2013

For all those exporters worried that the pound is on its way back to 1.60 against the dollar and 1.30 versus the euro, fear not.

Eurozone gloom likely to drive the ECB to act this week?

Posted on: 1 May 2013

A mixed bag of data from the UK saw the pound swing sharply against most major currencies with the end result seeing the pound register its strongest monthly gain against the greenback since October 2011.

Plenty of data; little action

Posted on: 30 April 2013

In the modern era of recession and austerity, job losses and financial hardship have become all too common in peripheral Euroland.

US GDP below target but not bad

Posted on: 29 April 2013

Over the years Italy has taken a lot of stick for its "voluntary" taxation system...

Take me with you… I can see… I can see perfectly!

Posted on: 26 April 2013

The Moscow Times reports that Vladimir Putin, Russia's unimpeachably democratic president for life, believes the portrayal of history in the country's schools is too complicated...

Anything positive would be welcome

Posted on: 25 April 2013

Following the raucous popularity of the vuvuzela during the soccer world cup in South Africa, the authorities in Brazil were worried that their own football festival in 2014 would be too quiet.

Euro dented by weaker German ecostats

Posted on: 24 April 2013

Over five years the House of Commons paid out more than £40k to employees in compensation for mishaps in the workplace. That works out to £22 per employee.

Buoyant sterling as Q1 GDP looms

Posted on: 23 April 2013

There is nothing out there to capture currency investors' imaginations at the moment. JPY was favourite this morning but in the last seven trading days has taken first place on four of them and last on three...

Britain loses a second triple-A rating

Posted on: 22 April 2013

On Friday Fitch Ratings joined Moody's in lowering its UK sovereign rating from AAA to AA+. The news was not wholly unexpected but still cost sterling half a euro cent and nearly one US cent.

Cyprus still simmering

Posted on: 19 April 2013

The attorney general of Cyprus insists parliament must give its approval to the bailout conditions handed down by the EU/IMF/ECB troika. That approval is by no means assured.