Europe

  • 2016-11-07 19:01


    -UK Oct REC Permanent Placements 54.6 Vs 51.0 Sep -UK Temp Staff Billings 55.2 Vs 52.6 Sep

    LONDON (MNI) - UK permanent and temporary jobs growth rose in October and vacancies increased, while staff availability continued to shrink, a Markit survey for the Recruitment and Employment Confederation found.

    The survey suggests the UK jobs market has been revitalised after a period of uncertainty following the vote to leave the European Union, but that the shortage of available candidates is again becoming a pressing issue.

  • 2016-11-07 09:47


    --Hopes for Global Deal Including Short-Term Debt Relief by Year-End

    PARIS (MNI) - European Commission economic affairs chief Pierre Moscovici said Monday that recent talks between Greece and its creditors have been "very encouraging" and he believes an accord on the second bailout review that includes short-term debt relief measures can be reached by the end of the year.

    "The second review is showing signs of being extremely positive and thus I have good hopes that we can arrive at an accord," Moscovici told journalists in Brussels prior to the meeting of Eurogroup finance ministers.

    "I hope we can reach a global accord that includes the question of the debt before the end of the year," he said.

  • 2016-11-07 09:42


    - Sees Benchmark Allotment At -E631 billion Based on Nov 7 Forecast

    FRANKFURT (MNI) - The European Central Bank called for bids Monday for a seven-day refinancing operation at a fixed rate of 0.00%.

    It said that based on its liquidity forecast, the benchmark allotment amounts to -E631 billion. The central bank also said that the average autonomous factors for the period between Nov 7 and Nov 15 are estimated at E836.8 billion.

    Bids for the new refinancing operation are due by 0930 GMT Tuesday.

    --MNI London Bureau; tel: +44 207-862-7435; email: michael.chrysostomou@mni-news.com

    [TOPICS: M$X$$$,M$$EC$,MN$MM$]

  • 2016-11-04 03:04


    By David Robinson

    LONDON (MNI) - Bank of England Deputy Governor Ben Broadbent said Friday that he had "not even thought" about taking over the top job at the Bank.

    Governor Mark Carney is to stay on until 30 June 2019, the same date at which Broadbent current term comes to an end. Broadbent is among the favourites to get the top job and in a BBC Radio interview he refused to say whether he was interested, sticking instead to the line that it had not crossed his mind.

    Broadbent was speaking following the publication of the BOE's November Inflation Report on Thursday.

  • 2016-11-03 07:19


    -High Court Ruled Parliamentary Approval Needed Article 50

    LONDON (MNI) - The UK government is set to appeal against a High Court ruling that parliamentary approval is needed before Article 50 can be triggered.

    Article 50 triggers the process cumulating in the UK's leaving the European Union. The government had planned to decide, without a parliamentary vote, when to exercise it.

    The High Court, however, on Thursday ruled that the government was wrong and parliamentary approval was needed.

    The ruling was met with predictable fury by some Leave campaigners, but in reality no-one is anticipating parliament rejecting Brexit outright, although it does strengthen the negotiating hand of those looking for a softer Brexit.

  • 2016-11-02 11:05


    By David Robinson

    LONDON (MNI) - The Bank of England Monetary Policy Committee in the November Inflation Report is set to show the largest projected overshoots of its inflation target and the committee looks highly likely to leave policy on hold.

    While sterling overshot for a prolonged period the MPC's 2% inflation target, in the wake of the 2008 financial crisis, the MPC's forecast repeatedly showed it dropping back to target. In August, however, it forecast a marked overshoot and since then inflation pressures have intensified.

    In August, using market interest rates, the MPC showed CPI rising to 2.38% in two years' time and 2.43% in three years' time.

  • 2016-11-02 04:49


    -Oct Construction PMI 52.6 Vs 52.3 In Sep

    LONDON (MNI)I - The construction sector saw further growth in October but input price inflation accelerated and some respondents reported that Brexit concerns continued to deter investment, the October survey from IHS Markit found.

    The Markit/CIPS UK Construction Purchasing Managers' Index rose to 52.6 in October from 52.3 in September, above the 50 breakeven level but well below the 57.3 average over the past three and a half years.

  • 2016-11-02 02:12


    -Nationwide UK Oct House Price Index Flat m/m; Up 4.6% y/y versus Up 5.3% y/y Sep

    LONDON (MNI) - UK yearly house price inflation decelerated in October, a survey from lender Nationwide showed.

    The Nationwide House Price Index was flat on the month in October, with the year-on-year inflation rate slowing to 4.6% from 5.3% in September.

  • 2016-11-01 19:01


    -NIESR UK 2016 Real GDP 2.0%; 2017 1.4%: CPI Rises From 1.6% 2016 To 3.8% 2017

    LONDON (MNI) - The National Institute of Economic and Social Research expects the UK's decision to leave the European Union will result in longer-term immiseration while near-term growth will hold up better than expected but that there will be a hefty overshoot of the 2% inflation target.

    NIESR's quarterly forecasts show real terms GDP growth slowing gradually from 2.2% in 2015 to 2.0% in 2016 and 1.4% in 2017, while inflation heads in the opposite direction, with the CPI rate rising from just 0.1% in 2015 to 1.6% in 2016 and 3.8% in 2017.

  • 2016-11-01 19:01


    By David Robinson

    LONDON (MNI) - UK retail deflation was little changed in October, with non-food deflation holding steady, a British Retail Consortium survey found.

    The BRC Shop Price Index was down 1.7% on the year in October compared with down 1.8% in September with non-food deflation unchanged at 2.1% and food deflation decelerating to 1.2% on the year from 1.3% in September.

    The precipitous decline in sterling in the wake of the June 23 EU referendum result has yet to feed through to any notable decline in high street deflation, but the BRC does not expect this to continue with headline inflation in the official data having risen markedly.

    This is in line with the 3-month average.