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The UK seems obsessed with focusing on inflation, whereas the fed is dealing with labour market issues &...

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Despite a few metaphorical bumps in the road, the ‘good and the great’ from Labour gather this week in Liverpool to fawn over its leader, Sir Keir Starmer, who will be extolling the virtues of his aspirations and dreams for a dramatic ‘CHANGE’ in political ideology - Whatever that means.

We are all pleased to constantly hear reference to growth, even though Labour’s plans appear to be still in an embryonic state. I suppose this is fair enough considering the public has only been exposed to this fresh, exuberant and optimistic government for two months.

The Bank appears to be obsessed with killing inflation stone-dead, returning to its 2% guideline; hence it did not follow the ECB’s cut two weeks ago. On September 18, 2024, ECB lowered its interest rates, including the deposit facility rate, the main refinancing operations rate, and the marginal lending facility rate, decreasing it by 25 basis points to 3.5%. The main refinancing operations rate was decreased by 60 basis points to 3.65% and the marginal lending facility rate to 3.

 

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