What a difference one day makes. Yesterday British Pound was a high flying currency, gaining against all others. Today it is once again taking a beating, falling hard. Office for National Statistics released economic data showing the British economy shrank 0.4 percent in the third quarter. This came as a surprise, most observers expected the number to [...]

For weeks, and even months now, we have been led to believe that serious economic recovery was under way. Stock markets around the world have been enjoying strong rallies, commodities are working hard to create new bubbles and governments have been issuing ever more optimistic projections. China, the “new engine” of the globe has been growing [...]

Bank of England released minutes from its last policy setting meeting. What are the “minutes”? It is a transcript of what happened during the meeting, going well beyond any official statement released afterwards. Market observers look into details of these meetings, trying to see if any policy changing vote was unanimous, or not, who said what [...]