Pound on course to reach parity with the chocolate button

The pound reached a six-week low against the dollar yesterday under increasingly volatile conditions in the financial markets. In fact, the pound fell by nearly 3% to reach $1.38. This is only just above the 24 year low of $1.35 which was reached in the middle of January. Some commentators believe that sterling will fall even further than this. The … Continue reading

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It’s getting scary out there

So, interest rates are down to 0.5% and the Bank of England is given permission to begin “quantitative easing”. It is now considered nostalgic to look back to the balmy days of last summer and autumn (okay, so it rained most of the time) when interest rates were at 5% and we were all raising our eyebrows at the way … Continue reading

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Likely economic impact of Obama’s fiscal stimulus

On Monday of this week the Congressional Budget Office (CBO) responded to a request from the Senate to break down the anticipated effects of the fiscal stimulus of 17 February, which was incorporated into the American Recovery and Reinvestment Act of 2009 (ARRA).   Although the CBO made their forecasts based on the majority view of a number of economists, … Continue reading

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