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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Perspective who wrote (10177)	8/5/2004 8:53:10 AM
From: mishedlo	Respond to of 116555

BoE´s gradual rate hikes will keep economy stable says RICS Thursday, August 5, 2004 11:56:17 AM BoE's gradual rate hikes will keep economy stable says RICS LONDON (AFX) - The Bank of England's gradual rate hikes will help maintain economic stability in the UK and there is no real need for aggressive rate increases, the Royal Institution of Chartered Surveyors said "There are already initial signs that recent rate hikes and cautionary comments from BoE are having a necessary cooling impact on the housing market," RICS said after the central bank put up rates by a quarter point for the fifth time since November. "There is little need for shock treatment for consumers, as this would hit other parts of the economy," it added. fxstreet.com

To: Perspective who wrote (10177)	8/5/2004 9:08:33 AM
From: mishedlo	Respond to of 116555

WASHINGTON (CBS.MW) -- The number of people filing for unemployment insurance for the first time fell by 11,000 to 336,000 in the week ended July 31, the Labor Department said Thursday. The four-week average of new claims, which smoothes out distortions in the weekly figures caused by weather and other one-time factors, rose by 6,750 to a level of 343,500. Meanwhile, the number of Americans continuing to receive state unemployment benefits fell by 35,000 to 2.91 million in the week ended July 24. The insured unemployment rate, measuring the percentage of claims among those eligible for benefits, remained unchanged at 2.3 percent.

To: Perspective who wrote (10177)	8/5/2004 9:10:54 AM
From: mishedlo	Respond to of 116555

Saudi Arabian Oil: A Glass Half Full Or Half Empty? {russ might like this site] simmonsco-intl.com

To: Perspective who wrote (10177)	8/5/2004 9:17:46 AM
From: mishedlo	Respond to of 116555

Sterling drops after BoE hikes rates as expected, issues bearish statement Thursday, August 5, 2004 11:45:00 AM LONDON (AFX) - Sterling fell against the dollar after the Bank of England raised its main repo rate by 25 basis points to 4.75 pct, as widely expected, but issued a fairly bearish statement on the future outlook At 12.22 pm, sterling was trading at 1.8203 against the dollar, compared with 1.8243 just prior to the decision, while the euro rose to 0.6617 against sterling from 0.6610 just beforehand 4CAST analyst Ray Attrill said there was an element of "selling on the news", since it was only ever a question of whether interest rates would be raised by 25 basis points or by 50 A quarter point hike was widely expected, though in the wake of extremely strong manufacturing PMI data released on Monday, some market participants had begun to debate whether the BoE's Monetary Policy Committee might raise rates by a half point Additionally, the Bank of England's statement accompanying the rate decision was "slightly less hawkish than had been expected, and may ease some of the concerns that interest rates could be set to rise again in September," Attrill said The statement said although the housing market "remains buoyant", there are signs it is "starting to ease" Consumption may be moderating, the BoE said, adding that although "underlying cost pressures have risen", the consumer price index, the central bank's target measure, is likely to fall back in the near term. fxstreet.com