Saxo Group Videos
Videos Channels Search

Beecroft: Strong GBP is BoE's 'stealth tightening'

GBP is at a two year high against the Euro, one pound buys around 1.27 Euros, up around ten percent on the year. The strength of the pound is a form of "stealth tightening" according to Nick Beecroft, Chairman of Saxo Capital Markets and will also ease inflation and perhaps delay any future interest rates rise. Nick has been assessing the latest Bank of England minutes which he says are more "dovish" than Governor Mark Carney's most recent speech at the Mansion House.

UK retail sales rose in June by 0.1% compared to May which is seen as another sign that the UK economy is continuing to emerge from the recession sparked by the banking crisis. Nick adds that the retail sales results show the UK economy becoming more balanced, but with "weakness" in the housing market and low wage inflation still two of the major concerns for policy makers.       

04:48 minutes
Tags: angus walker, bank, bank of england, bank of england governor, bank of england inflation report, bank of england interest rates, bank of england mpc minutes, banking, banking and finance, banking capital, banking crisis, banking equity, banking industry, banking regulation, banking regulator, banking sector, banking system, banks, cable, central, central bank, central bank decision, central bank meetings, central bank policy, central bank rates, central banks, central markets, centralbanks, euro, euro dollar, eurozone, forex, fx, fx award, fx crosses, fx forex, fx interbank markets, fx investing, fx market, fx markets, fx options, fx spot, fx strategy, fx trade, fx trade idea, fx traders, fx trades, fx trading, fx tradinging, fx volatility, fxallocationmodel, fxfx, fxmarkets, fxmonthly, fxoptions, fxspot, fxtrade, gbp, gdp, gdp data, gdp estimate, gdp estimates, gdp forecasts, gdp growth, gdp growth europe, gdpusd, nick beecroft, rates, rates decision, retail industry, retail sales, saxo tv, tradingfloor.com, uk, uk banking sector, uk banks, uk budget, uk chancellor, uk economic data, uk economic outlook, uk economic recovery, uk economists, uk economy, uk election, uk employment, uk gdp, uk growth, uk housing, uk inflation, uk interest rate, uk interest rates, uk jobs, uk jobs data, uk manufacturing, uk pound, uk productivity, uk rates, uk recovery, uk unemployment, uk wages, ukgdp, ukip, ukraine, ukraine commodities, ukraine crisis, ukraine dollar yen, ukraine eurusd, ukraine forex market, ukraine gbpusd, ukraine oil supply, ukraine pound, ukuk

Switch to