Financial Crisis Ten Years On

Ten years ago, queues quietly began forming outside branches of Northern Rock. Unsettled by press reports that the bank was asking for help from the Bank of England, anxious customers wanted out. The first run on a UK bank for over a century was underway, and Northern Rock would be nationalised within a year. In … Continue reading “Financial Crisis Ten Years On”

A chance to bond with China?

Around $155 billion could start flowing into China’s local-currency bond market in the coming year if renminbi-denominated debt is added to influential bond indices as a reward for recent efforts to grant greater access to foreign investors. Over the past year, officials have expanded the types of foreign investors who can invest in the so-called … Continue reading “A chance to bond with China?”

Autumn statement 2016: will the sums add up?

The EU referendum result casts a long shadow over the chancellor’s 2016 Autumn Statement, resulting in a surprisingly modest downgrade to the economy’s growth prospects but a sharp worsening of its fiscal outlook. Within these tight parameters, Mr Hammond has done what he can: setting new fiscal rules, highlighting the UK’s long-term challenges, and raising … Continue reading “Autumn statement 2016: will the sums add up?”