News that the United Kingdom slipped into technical recession in the final three months of 2023 saw both the Pound and London blue-chip stocks tick counterintuitively higher. Investors wondered how long interest rates could stay at sixteen-year highs against such a backdrop. Meanwhile, a strong January bounce back for domestic retail sales had barely any effect on Sterling at all.
That might be because the preceding month had been so woeful, or because investors want to wait and see if 2024’s strong start was a blip or the beginning of a trend. If the latter, it might just mean that any recession will be short-lived, as some economists have already felt bold enough to suggest. The coming week has very little to offer UK economy watchers, with only the Gfk snapshot of consumer confidence on tap. It might assume more significance than usual, however, as markets will latch on to any clues about the likely resilience of sales.’s latest set of policy meeting minute
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