Tuesday, 15 March: As had been expected by investors, the Bank of Japan’s (BoJ) monetary policy was unbothered, however weaker expectations for inflation were hinted at. The BoJ have expressed yet further concerns regarding global headwinds and have attributed the blip in exports to emerging economies. All in all this leaves the door open to further stimulus down the road.
Euro Zone industrial production beat expectations during January, increasing by 2.1% from December and 2.8% year on year. The push in January down to capital goods which rose 3.9% month on month, standing future industrial investment in good stead.
In other news, Mike Ashley, the factually unencumbered CEO of Sports Direct and Newcastle Chairman has been summoned before MPs regarding the treatment of his workers. After politely declining an invitation to appear before the Business, Innovation and Skills select committee it seems his attendance remains in demand, and should he not honour the request this time around he may find himself in as much trouble as his ‘beloved’ Newcastle United.
The FTSE 100 today dropped back after a further slip in the price of oil on top of the bleak outlook from the BoJ. The fairly uninspiring day saw the index fall 0.56% and return to where we started the week. Anglo suffered the heaviest losses on the day, the shares finishing down near 11%, in typically volatile style for the miner.