Pound Higher After BoE Vlieghe Signals Rate Hike In 2022
BRUSSELS (dpa-AFX) - The pound spiked higher against its major opponents in the European session on Thursday, after a Bank of England policymaker hinted at a rate hike next year, though it could happen earlier if the economy rebounds quickly.
Speaking at the University of Bath, Gertjan Vlieghe said the first rise in bank rate is likely to become appropriate only well into next year, with some modest further tightening thereafter .
It would probably take until the first quarter of next year to have a clear view of the post-furlough unemployment and wage dynamics, so a rise in bank rate could be appropriate soon after, Vlieghe noted.
UK car exports pickup as EU remains number one market post-Brexit yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
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UK Car Production Shows Signs Of Recovery, But Big Picture Remains Bleak carscoops.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from carscoops.com Daily Mail and Mail on Sunday newspapers.
Car production bounces back on 12-month anniversary of factory shutdowns
Car production recovered to near-normal levels last month, a year on from flatlining completely due to Covid-19. (Getty Images)
UK car production returned to near normality in April compared to the same month a year before as automakers continued to struggle with the shortage of semiconductor chips.
Britain made 68,306 cars last month, up from 197 a year ago when factories were shuttered due to the initial Covid-19 lockdown.
Compared to April 2019, the number of cars rolling off production lines was down 3.8 per cent, the Society of Motor Manufacturers and Traders (SMMT) said.