19 Dec 2014

GfK Reports Weak Consumer Morale in UK

Today’s public sector borrowing report for November revealed that government debt in the UK continued to rise, weakening hopes that the British Chancellor might be able to reach his deficit reduction targets this fiscal year. The report provided little relief to Sterling investors after the GfK survey released earlier today indicated that morale among consumers in the UK weakened surprisingly for December. Across the Atlantic, market participants are likely to keep a tab on speeches by Fed officials, Jeffrey Lacker and Charles Evans, later today to get more clarity on the US Fed’s policy guidance going forward, especially after it dropped the “considerable time” phrase from its post-meeting policy statement.