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Aslef drivers have embarked on a three-day strike over pay and conditions; Sweden’s Riksbank cuts rates for first time in eight yearsSweden’s Riksbank has cut its policy rate to 3.75% from 4%, its first interest rate reduction in eight years.Financial markets had been expecting the move. The central bank said it expects to reduce rates two more times in the second half of this year. Its statement said:Inflation is approaching the target while economic activity is weak. The Riksbank can therefore ease monetary policy. The executive board has decided to cut the policy rate by 0.25 percentage points to 3.75%. If the outlook for inflation still holds, the policy rate is expected to be cut two more times during the second half of the year.Moving forward, it will be interesting to see how consumer demand evolves in the coming year. Management noted improving momentum in sales... Having opened its new US distribution centre to target a key market and completed its automation project in Sheffield, the company believes it is well-positioned having invested for sustainable and profitable growth.With greater cost savings and lower capital expenditure having completed these two projects, management is confident in achieving its medium-term Ebitda margin target of 6%-8% and expects to be free cash flow positive in 2024/25. Continue reading...
Aslef drivers have embarked on a three-day strike over pay and conditions; Sweden’s Riksbank cuts rates for first time in eight years
Sweden’s Riksbank has cut its policy rate to 3.75% from 4%, its first interest rate reduction in eight years.
Financial markets had been expecting the move. The central bank said it expects to reduce rates two more times in the second half of this year. Its statement said:
Inflation is approaching the target while economic activity is weak. The Riksbank can therefore ease monetary policy. The executive board has decided to cut the policy rate by 0.25 percentage points to 3.75%. If the outlook for inflation still holds, the policy rate is expected to be cut two more times during the second half of the year.
Moving forward, it will be interesting to see how consumer demand evolves in the coming year. Management noted improving momentum in sales... Having opened its new US distribution centre to target a key market and completed its automation project in Sheffield, the company believes it is well-positioned having invested for sustainable and profitable growth.
With greater cost savings and lower capital expenditure having completed these two projects, management is confident in achieving its medium-term Ebitda margin target of 6%-8% and expects to be free cash flow positive in 2024/25. Continue reading...
