Oil slips nearly 1 percent on concerns over rising U.S. output
NEW YORK Oil prices fell about 1 percent on Friday as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.
LONDON Britons' expectations of the average rate of inflation for the year ahead edged up to 2.8 percent in January from 2.7 percent in December, a monthly survey by polling company YouGov showed on Monday.
The poll - which is conducted on behalf of Citi - showed that over the next five to 10 years, Britons expected inflation to average 3.4 percent, up from 3.3 percent in December.
Both figures are in line with the long-run average since the survey started in 2005 but above the BoE Monetary Policy Committee's (MPC) 2 percent target, Citi said.
"Whether by luck or judgement, the general public's inflation expectations have, on average, been closer than the MPC's forecasts to the inflation outturns, correctly anticipating the persistent inflation stickiness," Citi economist Michael Saunders said.
"At present, we suspect that the general public's view of further inflation stickiness will again prove correct," he added. "Moreover, the Chancellor may well change the inflation target to make it easier for the MPC to tolerate such a persistent regulatory-driven inflation overshoot."
The poll of 2,413 people was conducted between January 21 and January 23. Consumer price inflation was 2.7 percent in December.
(Reporting by David Milliken)
BERLIN Europe should impose punitive tariffs on imports from the United States if President Donald Trump acts to shield U.S. industries from foreign competitors, a senior ally of German Chancellor Angela Merkel said in a newspaper interview.
MILAN Italy's biggest retail bank Intesa Sanpaolo abandoned plans to join forces with the country's largest insurer Assicurazioni Generali on Friday, saying a tie-up would not create value for its shareholders.