Luke Springthrope

Luke Springthorpe

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Negative Interest Rates Explained in Five Graphs

Why did the European Central Bank cut rates and introduce a negative overnight deposit rate which will essentially charge European Banks for the privilege of avoiding risk and depositing cash with the European Central Bank? This is best explained through a series of graphics. Jun 5, 2014 8:36 AM PT

Conservative and UKIP Councillors Must Work Together

Following last week’s local elections, 32 local councils were left with no one party able to control the council. Of these, a fifth (seven councils in total*) would have a working majority if UKIP and Conservatives were able to come to an agreement and form a coalition at a local level. May 31, 2014 6:27 AM PT

The Week Ahead: AstraZeneca Share Price Falls and Sweden Slips into Deflation

The FTSE 100 was down on Monday morning following a big selloff in AstraZeneca after the AstraZeneca board opted to reject an offer from Pfizer worth £55 a share. Given the shares traded at £37 a share prior to the bid, it’s likely the company will experience a slump in its share price over the coming week unless talks are re-opened, although Pfizer said this was their last offer unless AstraZeneca recommended the bid to shareholders- something they haven’t done. May 19, 2014 4:05 AM PT

Valuable Economic Lessons Can Be Learned from Sir John Major

Former Bank of England Governor, Mervyn King, was yesterday awarded the UK’s highest honour in his appointment to the Order of the Garter. The honour, which is given annually on St.George’s day, sees Sir Mervyn join only 22 other Knights and Ladies Companion. One of them, Sir John Major, is perhaps the one who we can learn the most from when it comes to economics, however Apr 24, 2014 1:54 AM PT

Why Inflation is Falling Despite Quantitative Easing

The trend for UK inflation is, as I have mentioned previously, still on a downward trend (as illustrated below) and is a trend that is shared with the US. How is this possible in the face of £375 billion of Quantitative Easing by the Bank of England? Apr 14, 2014 6:34 AM PT

Fed Winds Down Quantitative Easing While European Inflation Stays Low

Last week saw another European Central Bank interest rate meeting in which the ECB chose to remain active in the face of inflation declining to its lowest level in 5 years. Only five years ago, the Eurozone was in the midst of a crisis over the currency's very existence. Apr 8, 2014 7:08 AM PT

Week Ahead in Finance: Europe Slides into Deflation and Ukraine Burns Through Foreign Currency Reserves

Another week in which European inflation data dominated the headlines, following an unexpected slip by Spain in to deflation (down 0.2 percent), saw pressure mount on the ECB to undertake some kind of intervention- and fast- to avoid the region stumbling in to deflation. For the highly indebted nations, deflation would be an absolute disaster given the extra pressure it would place on their burgeoning debt servicing costs. Apr 1, 2014 2:21 AM PT

Budget Preview: Will Osborne Have the Guts to Cut Inheritance & Capital Gains Taxes?

The budget today is presented against a backdrop where the UK still is among the worst performers in terms of productivity in the G7 along with a terrible trade deficit that remains unchanged from when the coalition took charge. Furthermore, last week’s shocking January balance of trade figures only acted to underline how unbalanced the UK economy remains with imports rising 3.4 percent and exports falling 4 percent. Mar 19, 2014 2:45 AM PT

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