Howard Archer
Howard Archer
activity bank certainty england february interest next rates robust sector service unchanged
Robust service sector activity in February makes it even more of a cast-iron certainty that the Bank of England will keep interest rates unchanged next Thursday.
basis belief contain cut expected february further growth help interest points pressures rates subdued underlying
This subdued growth is expected to help to contain underlying inflationary pressures and risks, underpinning our belief that interest rates will be cut by a further 25 basis points in February or March.
activity approval data february hints housing lending lose market momentum months mortgage relatively several starting
While the February mortgage lending and approval data are relatively healthy, there are hints that housing market activity could be starting to lose momentum after several months of improvement.
export february flat orders
Flat export orders in February are particularly disappointing.
bank benign contained england february inflation line overall report
This is still a pretty benign report overall and broadly in line with Bank of England expectations contained in the February Inflation Report.
belief consumer february fourth performance quarter relatively seen spending strong survey sustain unable
The February CBI survey reinforces our belief that consumer spending will be unable to sustain the relatively strong performance seen in the fourth quarter of 2005.
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Our Sunday lunches have been an excellent flagship because that is often many people's first experience of our menus.
activity continued data evident half housing indicate lending market mortgage robust second
Overall, the mortgage approvals and lending data indicate that the more robust housing market activity evident in the second half of 2005 has continued into 2006.
bet change currently interest months rates safe seems several
It currently seems a pretty safe bet that interest rates will not change for several more months to come, if at all this year.
boost euro feed growth healthier hoping pound recently softer zone
Manufacturers will be hoping that healthier growth in the euro zone and a recently softer pound will increasingly feed through to give them with a significant boost in 2006.
appears chain contain continuing effects energy high oil pressures round second street strong supply
It appears that strong competitive pressures on the high street and through the supply chain are continuing to contain any second round inflationary effects of high oil and energy prices.
appears boost needed sales
It appears that significant discounting is still needed to boost sales volumes.
consumer december following marked overall performance recent relatively seen spending strong stronger survey
While the CBI survey indicated a marked softening in consumer spending following the relatively strong December performance, it nevertheless indicated a significantly stronger performance than that seen overall in recent months.
below climb coming continue danger economic further growth individual likely mortgage near remain term trend
With economic growth likely to remain below trend in the near term at least and unemployment set to continue rising, there is a very real danger that individual insolvencies and mortgage repossessions will climb markedly further over the coming months.