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24 minutes ago
UK wage growth rate declines as salaries decline
Britain’s wage growth, excluding bonuses, slowed to 6.6% in the September-November period from 7.2% in the three months to October, in line with economists’ forecasts polled by Reuters.
The number of job openings fell by 49,000 from October to December, marking the 18th consecutive year of declines in data released.
According to preliminary estimates, the number of paid employees fell by 24,000 in December.
“Another sharp decline in wage growth in November confirms our view that domestic inflationary pressures are rapidly easing.However, the tighter labor market is likely due to the Bank of England’s February policy It would mean maintaining a hawkish bias in the meeting,” said Ashley Webb. UK economists at Capital Economics said in a note:
— Jenny Reid
45 minutes ago
IMF expects interest rates to fall in second half of this year
International Monetary Fund (IMF) First Deputy Managing Director Gita Gopinath spoke to CNBC at the ECB Forum in Portugal.
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Speaking on CNBC’s “Reality of High Interest Rates” panel at Davos, IMF First Deputy Managing Director Gita Gopinath said it was “premature” to conclude that central banks would “aggressively” cut interest rates this year. Ta.
Although inflation is falling, labor markets in the U.S. and Europe are tight and “the job is not done,” he added. The IMF expects interest rates to fall in the second half of this year.
Gopinath said he expected interest rates to rise over the next three to four years compared to the period after the 2008 global financial crisis.
— Lucy Handley
48 minutes ago
ECB board member de Galleau: We are not calendar-driven, we are data-driven
François Villeroy de Galhau, Governor of the Banque de France.
Bloomberg | Bloomberg | Getty Images
Bank of France Governor François Villeroy de Galhau stressed that he could not say when the European Central Bank would cut interest rates this year.
“Why don’t I say anything about the season? I said it should be this year unless there’s a big surprise. But… we’re not calendar-driven, we’re data-driven.” said in a panel discussion moderated by CNBC. Event at the World Economic Forum in Davos, Switzerland.
As for the trajectory of inflation, “it’s too early to declare victory…the job is not done yet. That said, interest rate tightening has been fairly successful so far, and even at Davos a year ago we “It’s been more successful than I expected,” he added.
“What we’re seeing on both sides of the Atlantic is kind of a soft landing so far.”
— Jenny Reid
1 hour ago
European Central Bank’s Centeno emphasizes progress in inflation in the euro area
Portugal’s central bank president Mario Centeno said on Tuesday that inflation in the euro zone is on a “very good” trajectory, despite a hawkish tone in recent days from his peers on the European Central Bank’s board. He said he was on board.
“We still rely on data and that’s how we frame our decisions…One of the ECB’s biggest successes in recent times was being able to peg medium-term inflation expectations at 2%. “This is because the ECB is trusted and we must continue to do so,” Centeno said.
Please read the full text.
— jenny reed
8 hours ago
CNBC Pro: Bank of America lifts global wind energy stocks after tough 2023, giving room for 20% upside
Bank of America upgraded the wind energy stock from “neutral” to “buy,” citing an improved risk-reward profile.
The upgrade and price target increase come after the stock has already recovered more than 50% from last year’s lows.
Wall Street banks are also bullish on the stock after a series of negative headlines about project delays and cost overruns soured sentiment in the wind energy sector in 2023.
CNBC Pro subscribers can read more here.
— Ganesh Rao
8 hours ago
CNBC Pro: Morgan Stanley selects global ‘alpha’ opportunities for January – gives one 50% upside potential
Asian markets may have had a rocky 2023, but those looking for small opportunities in the region can look to Morgan Stanley’s Alpha stocks.
Alpha stocks are stocks that have the ability to beat the market.
The stocks are from the Asia-Pacific region ex-Japan, have a market capitalization of more than $5 billion, and were ranked based on factors such as quality, value and sentiment, Morgan Stanley analysts said. .
CNBC Pro subscribers can read about Morgan Stanley’s top 10 ideas to watch here.
— Amara Balakrishna
3 hours ago
European Market: Click here for opening call
European markets are set to open in negative territory on Tuesday.
According to IG data, the UK’s FTSE 100 index is expected to open 18 points lower at 7,561, Germany’s DAX is expected to drop 76 points to 16,550, France’s CAC is down 27 points to 7,383 and Italy’s FTSE MIB is expected to drop 87 points to open at 30,300.
Germany’s ZEW business sentiment survey and the country’s final inflation rate for December are scheduled to be released.
— Holly Ellyatt
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