Bank of England Reports Published in May 2023
Latest results from the Decision Maker Panel survey – 2023 Q1 – Read the report
The Decision Maker Panel (DMP) is a survey of Chief Financial Officers from small, medium and large UK businesses.
UK International Reserves – May 2023 – Read the report
The Bank of England manages the UK’s official reserves on behalf of the Government.
PRA Regulatory Digest – May 2023 – Read the report
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
House prices fall at the fastest pace in nearly 14 years, says Nationwide
From: The BBC
UK house prices fell at their fastest annual pace for nearly 14 years in May, the Nationwide has said.
The building society said prices in the year to May dropped by 3.4%, the biggest decline since July 2009.
British pound (GBP/USD) Analysis
From: Daily FX
- Cable rises on the Fed’s increased probability of a “skip” at the June FOMC
- Major risk events this week: NFP, US debt ceiling fears dissipate
- GBP/USD technical levels to consider for a bullish continuation
GBP/USD: Weekly Forecast 28th May – 3rd June
From: Daily Forex
A steady downward trend has developed in the GBP/USD as behavioral sentiment has taken a dark turn over the past couple of weeks.
Support levels have continued to prove vulnerable in the GBP/USD as nervous trading conditions highlight Forex. The combination of weak U.K economic data and troubling reminders from the U.S. Federal Reserve have made the near and mid-term outlooks for the GBP/USD rather miserable. After trading near a high of 1.26700 on the 8th and 10th of May, the currency pair has developed a bearish trend.
UK factory output contracts again in May
LONDON, June 1 (Reuters) – Britain’s manufacturing output fell for a third month in a row in May and new orders declined at the fastest pace in four, but there were signs that the worst of the inflation surge may have passed, an industry survey showed on Thursday.
UK govt to ask supermarkets to cap prices of basic food items – Telegraph
LONDON, May 28 (Reuters) – The British government is looking at plans to have retailers cap the prices of basic food items such as bread and milk, the Telegraph reported, as the cost of such essentials continued to rise in the double digits.
FX Rates in May
May High: 1.1582
May Low: 1.1334
May End: 1.1582
May High: 1.2621
May Low: 1.2352
May End: 1.2383
May High: 1.1084
May Low: 1.0685
May End: 1.0689