Thursday November 5, 11:54 AM
FACTBOX-British economy checklist ahead of BoE meeting
LONDON, Nov 5 (Reuters) - The Bank of England will decide
whether to extend its 175 billion pound quantitative easing
programme at its monthly meeting which ends today, after
policymakers weigh up the outlook for growth and inflation in
the coming months.
Two thirds of economists in a Reuters poll reckon the
central bank will decide to pump more money into the economy,
swayed by data showing Britain remained in recession in the
third quarter. However, they are split on the scale of any
increase.
Official data showed the economy contracted 0.4 percent
between July and September, marking the longest recession on
record and confounding recent surveys that have painted a more
upbeat picture of the economy.
BoE policymakers have warned that any recovery will be slow
and analysts reckon they will keep interest rates at their
record low of 0.5 percent until well into 2010.
The BoE will make its announcement at 1200 GMT following the
conclusion of its two-day Monetary Policy Committee meeting.
Following is a summary of the main UK economic data over the
past month.
LATEST RELATION F'CAST OCT STORIES
TO F'CAST MEETING
CPI (NYSE: CPY - news) yy 1.1 WEAKER 1.3 1.6
RPI yy -1.4 STRONGER -1.5 -1.3
RPI-X yy 1.3 STRONGER 1.2 1.4
PPI Output yy** -- -- -- 0.4
Ave Earnings 1.6 STRONGER 1.4 1.7
3m yy
Claimant Count 20.8 STRONGER 25.0 24.4
Change (000s)
Jobless Rate 7.9 STRONGER 8.0 7.9
(ILO)
RetailSales mm 0.0 WEAKER 0.5 0.0
CBI Sales bal. +8 STRONGER +5 +3
GfK Consumer -13 STRONGER -15 -16
confidence
BoE Mortgage 56.2 STRONGER 54 52.3
approvals(000s)
BoE Mortgage +0.922 STRONGER +0.8 +1.009
lending(bln stg)
BoE Consumer -0.262 SAME -0.2 -0.309
Credit(bln stg)
RICS Housing +22 STRONGER +16 +10.7
Nationwide mm 0.4 WEAKER 0.9 0.9
Halifax mm 1.2 STRONGER 0.7 1.6
Manufacturing 1.7 STRONGER 1.0 -1.9
output mm
Industrial 1.6 STRONGER 1.0 -2.5
output mm
CBI Orders bal. -51 WEAKER -45 -48
Mfg PMI 53.7 STRONGER 50.0 49.5
Svcs PMI 56.9 STRONGER 55.5 55.3
GDP qq -0.4 WEAKER +0.2 -0.6
Trade gap** -- -- -- -6.240
(bln stg)
M4 mm +0.8 -- -- +0.1
GBP trade- 80.8 -- -- 78.0
weighted
Dec Short 99.40 -- -- 99.41
stg
FTSE 100 5,087 -- -- 5,101
NOTES
Data listed for the previous meeting indicate data as they
were available to policymakers at the time. Some numbers may
have been revised since then.
** The following data have not yet been released.
Oct producer prices due Nov 6
Sept trade balance due Nov 10
RELATED ITEMS
For the latest MPC (A050540.KQ - news) comments, click on
For voting patterns from recent meetings, click on
Keywords: BRITAIN BANK/CHECKLIST
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