2015

Scales

At the start of 2015 we had a broadly supportive view of the economy but there were a number of risks that gave us some cause for concern.  Overall, the year began on a note of uncertainty.  Now we find ourselves at a crossroads; will this long recovery continue or will it be disrupted by an...Read more

Oil Price

The continued decline of the oil price has been one of the main themes of 2015. This week Brent crude reached its lowest level since mid-2004, falling to just over $36 per barrel. The price has fallen 70% since the peak level seen in recent years, presenting both opportunities and threats to...Read more

December 2015
istock.com

Last month the International Monetary Fund (IMF) announced the inclusion of the Chinese renminbi as its fifth currency in the Special Drawing Rights (SDR) basket, effective from October 1st 2016.Read more

December 2015
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Last night the Federal Reserve (Fed) voted to raise interest rates by 0.25%, seven years to the day since it cut interest rates to almost zero.Read more

December 2015
istock.com

3rd December 2015 marked a long-awaited European Central Bank (ECB) meeting.  Markets expected the monetary authority to announce a deepening of its accommodative monetary policy, namely a more negative interest rate and an extension to the quantitative easing (QE) programme.Read more