HUNGARY: Government Extends Profit Margin Caps on Basic Goods Until Feb 28
Nov-13 16:09
- Hungary’s government extended profit curbs on basic goods ranging from food to toilet paper until Feb. 28, Economy Ministry says in statement. It has also added 14 items subject to the profit curbs, including some cheeses, fruits and vegetables.
- The profit margin cap, first introduced in March 2025 to limit retailers' profit margins to 10 percent on selected basic food and household items, has since been expanded to cover more than 1000 products across 30 categories, including eggs, butter, dairy goods, and cleaning supplies.
- Earlier in the week, the government approved extending the interest rate cap on retail mortgages until June 2026.
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UK DATA: MNI UK Labour Market Insight: Bailey to Keep Q4 Cut Options Open?
Oct-14 16:05
- All in all a disappointing UK labour market report - likely increasing the probability that Governor Bailey wants to keep optionality for voting for a Q4 cut and hence eliciting a negative GBP FX reaction and seeing SONIA futures move to price in around a 35% probability of a Q4 cut (up from around 23% as of yesterday’s close).
- The key surprise for us is the soft private regular AWE data as we note that Governor Bailey cited in explaining his decision to vote for an August cut the softer-than-forecast data on this front in Q2 (which undershot the BOE’s forecast by 0.4ppt).
- Assuming the Y/Y single month rate for September remains in line with that seen in today’s August print and no further revisions, we are on track to undershoot by 0.3ppt in Q3 (a forecast that had already been downgraded in the August MPR).
- Aside from the poor private sector wage numbers: the unemployment rate was higher than expected (and higher than the BOE’s Q3 forecast), there was a smaller 3-month LFS employment growth number than consensus expected and vacancies fall.
- The brighter points were that public sector bonuses were higher than expected (bringing up the total whole economy pay number) while there were some upward revisions to payroll growth so the 3-month fall in payrolls is only 0.2k (from a 38k fall to the 3-months of Aug that was revised to -12.6k).
FED: US TSY TO SELL $110.000 BLN 4W BILL OCT 16, SETTLE OCT 21
Oct-14 16:05
- US TSY TO SELL $110.000 BLN 4W BILL OCT 16, SETTLE OCT 21
FED: US TSY TO SELL $95.000 BLN 8W BILL OCT 16, SETTLE OCT 21
Oct-14 16:05
- US TSY TO SELL $95.000 BLN 8W BILL OCT 16, SETTLE OCT 21
