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Economic forecasting in crisis: Bank of England chief economist (news: 06/01/17)

Today's Press

  • The Bank of England's (BoE) Chief Economist bemoaned the inherent risks of placing too much faith in economic forecasting given the failure to foresee the financial crash in 2008 as well as the Brexit vote.

  • The rate that banks charge each other in Hong Kong’s overnight lending market for the yuan jumped to 61.3% on Friday--the highest in a year and the second-highest level on record. That rate was 38.3% on Thursday, and has remained above 10% since Dec. 30.

  • The U.S. economy added 156,000 new jobs in December, according to government data issued Friday, slightly below economists’ expectations, though still representing relatively strong growth. The final report issued by the Labor Department during President Obama’s administration showed the unemployment rate at 4.7 percent, slightly up from 4.6 percent the previous month.

Forex Quotes:

  • USDJPY: 116.60
  • EURUSD: 1.0546


  • S&P 500: 2,269.00
  • NASDAQ : 5,487.94


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