leadf
logo-loader
viewPelican Exchange

UK's economic data catches many by surprise this week, says Pelican founder

Mike Read, co-founder at trading house Pelican, mulls over this week's raft of UK economic data which includes stats on jobs, retail sales, inflation and public finances.

He said he believes most of it has caught people by surprise, notably the better than expected unemployment figure and strong retail sales. "Post-Brexit, it's all looking much better than people had expected."

Read says the Bank of England may have "jumped the gun" a little bit on cutting interest rates, and may not have made the cut  had they waited for this week's data.
Plus he'd be very surprised to see a further cut in November as the UK is showing signs of resilience and confidence.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Great Bear Resources releases 7 new drill holes from LP fault that show high...

Great Bear Resources (CVE: GBR- OTCQX: GTBAF) CEO Chris Taylor joined Steve Darling from Proactive to share details about 7 new drill holes from the LP Fault. These results part of their 25-million-dollar 2021 exploration program. Taylor telling Proactive they published 227 LP Fault drill...

1 hour ago

2 min read