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As the UK economy continues to dive bomb towards recession the Bank of England has given its most blatant indication to date that interest rates will fall again in January. The indication was that...
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Tuesday 19th August 2008
The UK stockmarket could be in some very choppy water at the open tomorrow as analysts digest comments from a leading economist in the US who believes that at least one major US banking institution will fail over the coming months. The comments came from the renowned commentator Kenneth Rogoff who reminded investors that the US is nowhere near out of the woods yet despite some views to the contrary.
As you might expect we will see some of the best known UK banks come under pressure tomorrow as concerns resurface about the strength and depth of any potential economic recovery in the short term. Whether the comments attributed to Mr Rogoff were a little over cautious or firmly grounded it has made a number of UK economist review their views and forecasts.
It seems that just when we are on the verge of a possible recovery something then happens to make investors think again. There is no doubt that this economic slowdown will be long, it will be hard and some of the best known financial institutions on both sides of the Atlantic will certainly feel the pain. So who will the shorters chase next? |
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