Holger Schmieding
Holger Schmieding
Holger Schmiedingis a German economist, the current Chief Economist at Berenberg Bank based at their London officeand a frequent broadcaster and commentator on economic affairs in the media. Before joining Berenberg, he was a Senior Economic Advisor to the International Monetary Fund, a Senior Strategist at the Bank of America and worked for Merrill Lynch, based in Washington D.C., London and Frankfurt. The Financial Times Deutschland placed him at the top of the list of 50 analysts for the proven...
anecdotal cards christmas confidence consumer credit data estate evidence further indicate market modest point rebound reluctance remains weak weakness
The evidence on U.K. consumption remains contradictory. Some data such as weak consumer confidence and the reluctance to use credit cards point to further weakness ahead. However, the modest rebound in the real estate market and anecdotal evidence of satisfactory Christmas indicate a modest strengthening in spending.
creation distorted economic figures proof work
The figures are not proof yet of an economic slowdown as they are being distorted by cutbacks in work creation programs.
beyond clear consensus course found future guidance policy provide rate unlikely
The ECB probably has not found a consensus yet on rate policy beyond Dec. 1. For this reason, the ECB is unlikely to provide any clear Fed-style guidance on the future course of rates,