M&S Chair Says UK Rate Rises Have Been 'Totally Ineffective' [Financial Post (Toronto, Ontario, Canada)]
MARKS & SPENCER GRP S/ADR (MAKSY)
NASDAQ:AMEX Investor Relations:
markspizzeria.com
Company Research
Source: Financial Post
Author of the article: (Bloomberg) — The Bank of England's efforts to bring down inflation have been “totally ineffective” because most price changes have been beyond the central bank's control, one of the UK's top business figures said. Archie Norman, chairman of the retailer Marks & Spencer Group Plc, said that the most aggressive UK cycle of interest rate rises since the late 1980s “didn't actually reduce inflation very much.” Article content Article content Since December 2021, the BOE has raised its benchmark lending rate from 0.1% to 5.25% to tame inflation, which peaked at 11.1% in late 2022. While the Consumer Prices Index has since dropped back to 4%, it's still twice the bank's 2% target. About the role monetary policy played in controlling prices, Norman said: “There's a marginal effect, but inflation was driven by global macro prices. It had no bearing on the price of gas. It had no real bearing on the price of food.” The comments raise questions about the c
Show less
Read more
Impact Snapshot
Event Time:
MAKSY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
MAKSY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
MAKSY alerts
High impacting MARKS & SPENCER GRP S/ADR news events
Weekly update
A roundup of the hottest topics
MAKSY
News
- Peterborough store selling solely local products looks to expand [Yahoo! Finance]Yahoo! Finance
- London stocks rebound as fears of wider Middle East conflict ebb [Reuters]Reuters
- Marks and Spencer: A Riskier Turnaround Bet [Seeking Alpha]Seeking Alpha
- Are Investors Undervaluing Marks and Spencer Group plc (LON:MKS) By 39%? [Yahoo! Finance]Yahoo! Finance
- Traders' plan for alternative market for town [Yahoo! Finance]Yahoo! Finance