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- PolicyPolicy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: - G10 MarketsG10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts - Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- CommoditiesCommodities
Real-time insight of oil & gas markets
- CreditCredit
Real time insight of credit markets
- Data
- MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
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Free AccessMonday`s poor UK IP, manufacturing and trade.....>
UK: Monday`s poor UK IP, manufacturing and trade data adds yet more weight to
the ONS` interpretation of recent data as indicative of underlying economic
weakness, in contrast to the BoE`s more optimistic take.
- While many were quick to attribute to the adverse weather conditions
experienced late February/early March, ONS statisticians were adamant the Q1 dip
simply further extended a downward trend present for almost two years.
- After the rate hold on May 10, with a previously-expected hike derailed by
weak Q1 data, BoE governor Carney BoE said `we think the momentum in the economy
is going to reassert`. MPC voter David Ramsden on June 7 affirmed that the UK
economy was bouncing back in Q2 and that Q1 weakness was fleeting.
- In contrast, MNI's data team has been more in line with the ONS`s take than
the BoE`s, with our analysis on June 6 for instance highlighting that weak
household spending is not a new issue and pre-dated even the 2016 Brexit vote.
- With evidence mounting that the Q1 slowdown was not an anomaly, the 57%
pricing of an August hike (per MNI PINCH) marks a fall from 65% Friday. While
well up from the low of 25%, the balance of risks may yet be to the downside.
To read the full story
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Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.