The market was pricing a fairly hawkish Bank of England meeting, That in itself is not really a positive signal for Sterling. After all it is clear that interest rates will only begin to be normalised once the QE programme has come to an end. The longer the programme continues for, the later interest rates are likely to be hiked
Strong increase in construction output. Costs rise at fastest pace since survey began in 1997
Key findings Commercial work leads the construction recovery in April Steepest pace of civil engineering growth since September 2014 Input price inflation highest in 24 years of data
"The UK construction sector is experiencing its strongest growth phase for six-and-a-half years, with the recovery now evenly balanced across the house building, commercial and civil engineering categories. "New orders surged higher in April as the end of lockdown spurred contract awards on previously delayed commercial development projects. This added to the spike in workloads from robust housing demand and the delivery of major infrastructure programmes such as HS2. "Shortages of construction materials and much longer wait times for deliveries from suppliers were a sting in the tail for the sector. Aggregates, timber, steel, cement and concrete products were all widely reported as in short supply by survey respondents. "Supply and demand imbalances for construction items, alongside higher transport costs, resulted in severe price pressures across the board during April. The overall rate of input cost inflation reached its fastest since data collection began 24 years ago, exceeding the previous record seen at the top of the global commodity price cycle in 2008."
UK jobs market hits full throttle as lockdown eases: KPMG/REC07 May 2021 07:43
(Reuters) - Demand for workers from British employers soared this month at the fastest rate since the late 1990s as much of the economy reopened following the latest coronavirus lockdown, a survey of recruitment consultants showed on Friday.
The monthly index of demand for staff from the Recruitment and Employment Confederation (REC) and accountants KPMG rose this month to its highest level in just over 23 years. Permanent staff placements grew at the fastest rate since October 1997.
A third of small businesses still unaware of bounce back loan repayment options06 May 2021 15:49
First Bounce Back Loan repayments due to start in June for many borrowers Around a third of businesses plan to make the standard repayments Just 5% intend to take the full six-month repayment holiday available
BoE Decision to Reduce Quantitative Easing06 May 2021 12:36
The Bank of England has reduced the scale of its quantitative easing programme while issuing a sizeable upgrade to their 2021 economic growth forecasts, a decision that has prompted some volatility in the British Pound.
The decision to reduce purchases down to £3.4BN a week prompted a sharp bout of volatility in Pound Sterling exchange rates, although at the time of writing the UK currency is settling at higher levels than were seen before the 12PM decision.
The BoE projects GDP growth in 2021 will be 7.25%, which is a material increase on the 5.0% projected in February, with economists at the Bank saying the improvement is down to progress on vaccinations and Government fiscal support
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Lloyds could rally higher this week if the Bank of England signals it is ready to start reducing its bond buying programme at its monetary policy announcement tomorrow plus good economical data out UK services PMI
Lloyds 50p end of May
Banks the first to suffer and the first to recover
Wave of cash from rich firms will turbocharge the recovery05 May 2021 10:42
analysts suggesting the UK is heading for its strongest year of economic growth since the Second World War, Rishi Sunak pointed out there is £100billion in UK businesses’ bank accounts waiting to be invested.
It came as Bank of England figures showed households saved another £16.2billion in March, taking the total squirrelled away during the pandemic to £203billion. The Bank also said mortgage lending hit a record high of £11.8billion in March.
The Office for National Statistics reported that number of businesses added to the Inter-Departmental Business Register (IBDR) the UK was 14% higher than a year earlier and is highest first-quarter figure since the start of the series in 2017
Net mortgage borrowing clocked in at £11.8bn in March, the highest level since records began in 1993 and while saving levels remained high debt repayments started to tail off as we dusted off our credit cards ready for a summer of spending.
You can feel the optimism bubbling over in the new saving and borrowing figures, as the vaccine rollout continued apace and the country prepared to reopen for business
Lloyds will rally as the economy enters the next phase of its recovery as nearly all closed businesses will be able to open their doors. Analysts have widely credited the UK's rapid vaccination rollout and now the UK remains on course to be among the first major countries to reach herd immunity.
Britain transport Secretary is putting aviation right at the hart of the government's mission to create global Britain. Prior to covid the aviation sector was contributing 22billion to the economy each year