Pound Pressured on Rate Hike Uncertainty

Snow-Hit Start to 2018 May Shape Next BOE Move

He added: "Economic activity in March, and especially retail sales, was hit by unusually heavy snow".

Saunders' comments contrast with those of Mr last night, who cautioned markets yesterday that a rate rise in May is not a certainty.

In a speech at the University of Strathclyde in Glasgow, Saunders said: "Gradual" does not imply that the MPC can only raise rates at a very low frequency, such as once per year".

Bank of England Governor Mark Carney on Thursday dampened widespread expectations for an interest rate hike in May, pointing out there were also "other meetings" this year.

He said: "I don't want to get too focused on the precise timing - it is more about the general path".

"Despite the recent softness of United Kingdom inflation, we expect him to reiterate his call for a near-term United Kingdom rate hike", says Nikesh Sawjani, an economist with Lloyds Bank Commercial Banking. 'On the softer side some of the business surveys have come off, ' he said.

Pound Pressured on Rate Hike Uncertainty

"I am sure there will be some differences of view but it is a view we will take in early May, conscious that there are other meetings over the course of this year".

Many economists and investors in the markets believe that the MPC will vote for a 0.25% rate rise at its May meeting.

He did note the uncertainties surrounding Brexit, but said the provisional agreements between the United Kingdom and European Union have "probably reduced some near-term Brexit-related uncertainties and downside risks to growth".

While the governor acknowledged the pressure being faced by the British high street and "softer" data, he said the Monetary Policy Committee will "sit down calmly" and look at the broad economic picture when they meet in early May.

"Since the start of 2016 up until now we have seen much less investment than would have expected. Productivity is not increasing, which will limit the rate at which people's wages can pick up".

Previous tightening cycles had on average seen rates rise by a full percentage point over eight months, so "quite a wide range of paths. would qualify as gradual relative to that experience", Saunders said.

Members of Congress call for Pruitt to resign
On Twitter, former ethics official Walter Shaub initially said he believed Pruitt should be anxious about this new development. Democratic leaders from the House Energy and Commerce Committee sent letters today to Chairman Greg Walden, D-Ore., and Rep.

Related news:

Hot News

isis-killer-beheading-video-story-top The Coca-Cola Company (NYSE:KO)
Apr 21, 2018 - 04:05
As the next round of earnings reports gets closer, investors will be closely monitoring results in comparison to Street estimates. Institutions purchase large blocks of a company's outstanding shares and can exert considerable influence upon its management.

isis-killer-beheading-video-story-top IPL 2018: Warm Pune to host CSK vs RR clash
Apr 21, 2018 - 04:03
Chennai got more good news in form of Suresh Raina , who also looked 100 per cent ahead of CSK's first home game in Pune . They surpassed Royal Challengers Bangalore 's tally of 13 totals of 200 and more in the IPL .

isis-killer-beheading-video-story-top Michael Avenatti: Cohen "Will Roll on the President"
Apr 21, 2018 - 04:00
In fact, most people do not even know who's on " The View ", other than Behar and Whoopi Goldberg. Adult film star Stormy Daniels is bringing her talents to Baltimore.

isis-killer-beheading-video-story-top Two More Palestinians Killed by Israeli Forces in Gaza
Apr 21, 2018 - 03:59
The US had halted its contributions to the United Nations agency as a way to urge Palestinians to negotiate with Israel. The number of protesters on Friday was lower than the previous three weeks, but still in the thousands.

isis-killer-beheading-video-story-top Mail bomber, 83, executed in Alabama
Apr 21, 2018 - 03:49
The convicted serial mail bomber was the oldest person executed since the reintroduction of the death penalty in the 1970s. In January, just before losing his last appeal, Moody wrote a letter to Vance's son, Robert S.

isis-killer-beheading-video-story-top Meet Apple's New Recycling Robot
Apr 21, 2018 - 03:45
With help from Daisy, " Apple can recover materials that traditional recyclers can't - and at a higher quality", said Apple . Apple will celebrate Earth Day this year by adding green leaves to its logos at several major Apple stores worldwide.

isis-killer-beheading-video-story-top 'Victor was the star man' - Conte heaps praise on Chelsea hero Moses
Apr 21, 2018 - 03:38
Antonio Conte has reached 100 games in charge of Chelsea , celebrating the landmark with a 2-1 Premier League win at Burnley . One thing is sure, when Willian or Eden [Hazard] don't play we just try to give everything for the team.

isis-killer-beheading-video-story-top IPhone SE 2 could arrive next month, but without a headphone jack
Apr 21, 2018 - 03:37
This leads us to speculate that Apple may launch the iPhone SE2 in India soon after its debut at the WWDC 2018 . Beyond the June quarter, iPhone sales may eventually see a huge upswing once Apple releases its 2018 lineup.

isis-killer-beheading-video-story-top J. Cole - 'KOD' | Album Stream
Apr 21, 2018 - 03:35
KOD serves as the Fayetteville, North Carolina rapper's fifth full-length to date and follow-up to 2016's 4 Your Eyez Only . The same sort of marketing techniques were used during the release of his third album 2014 Forest Hills Drive .

isis-killer-beheading-video-story-top 'Lazy youths': Lamido 2019 campaign Coordinator lambasts Buhari
Apr 21, 2018 - 03:35
Lamido's Campaign Coordinator, however, advised Buhari to treat Nigerian youths as his children, develop them for future leadership, rather than writing them off.

isis-killer-beheading-video-story-top Nishikori battles past Cilic to reach Monte Carlo Masters semi-finals
Apr 21, 2018 - 03:35
The world No 1 won 6-0 6-2 in their quarter-final - he won the first nine games to threaten his first-ever ATP Tour whitewash. Bautista Agut was given a code violation and later fined 2,500 euros ($3,085) for unsportsmanlike conduct.

isis-killer-beheading-video-story-top Coli Alert: CDC says throw out all chopped romaine lettuce
Apr 21, 2018 - 03:33
According to the CDC , cases of E. coli have been found in 16 states , though no cases have been reported in Maine. The outbreak has been linked to an E.Coli known as s O157: H7, which produces a chemical called Shiga toxin.

isis-killer-beheading-video-story-top United Kingdom plans for Irish border subjected to "a systematic and forensic annihilation"
Apr 21, 2018 - 03:33
This deal will need the approval of the UK Parliament before it can be implemented. I wish the vote had gone another way.

isis-killer-beheading-video-story-top Bajau 'Sea Nomads' First Humans Genetically Adapted to Diving
Apr 21, 2018 - 03:32
Ilardo et al., "Physiological and genetic adaptations to diving in sea nomads", Cell , doi.org/10.1016/j. cell .2018.03.054, 2018. They can also plunge dozens of meters below the sea surface without any diving equipment except for goggles.

isis-killer-beheading-video-story-top Greitens files restraining order against Hawley
Apr 21, 2018 - 03:29
Hawley indicated that the legal deadline is fast approaching to charge Greitens with a crime of tampering with computer data. The petition also seeks the appointment of a special prosecutor for conducting any investigation into the governor's office.