Rolling coverage of the latest economic and financial news
There’s quite a lot of corporate news for the markets to digest this morning.
Next have beaten City expectations by reporting an 8.1% rise in full-price sales in the third-quarter of the year. The retailer said that “all of the sales over-performance came from our international business,” with the UK growing rather slower.
Another rate hike in February seems to be the growing consensus – and our own view too. There’s little precedent for ‘one-and-done’ rate rises. But it’s one thing thinking that, another saying it out loud.
There’s a lot that can happen between now and February. And having made a hawkish misstep all the way back in March, when the Bank sounded open-minded about tighter policy, opening the floodgates for markets to price in rate hikes, it’ll want to tread carefully here.
Continue reading…Rolling coverage of the latest economic and financial newsThere’s quite a lot of corporate news for the markets to digest this morning.Next have beaten City expectations by reporting an 8.1% rise in full-price sales in the third-quarter of the year. The retailer said that “all of the sales over-performance came from our international business,” with the UK growing rather slower.Another rate hike in February seems to be the growing consensus – and our own view too. There’s little precedent for ‘one-and-done’ rate rises. But it’s one thing thinking that, another saying it out loud.There’s a lot that can happen between now and February. And having made a hawkish misstep all the way back in March, when the Bank sounded open-minded about tighter policy, opening the floodgates for markets to price in rate hikes, it’ll want to tread carefully here. Continue reading…
