Yael Selfin

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KPMG comments on today’s European Central Bank (ECB) decision

2 months ago | kpmg.com | Yael Selfin

The ECB continues to ease rates as the Eurozone economy stallsThe ECB continues to ease rates as the Eurozone economy stalls“The ECB continues to ease rates as the Eurozone economy stalls” says Yael Selfin, Chief Economist at KPMG. "Today’s decision to cut interest rates signals a clear consensus within the Governing Council to steadily shift monetary policy away from restrictive levels.
KPMG comments on today’s GDP data

Jan 16, 2025 | kpmg.com | YouTube. Opens |Yael Selfin

"UK GDP returned to growth after two consecutive months of decline, with growth potentially accelerating in 2025. Household balance sheets remain healthy and coupled with continued strong wage growth, this could spur further pick-up in consumer spending. Government spending could also become a key driver of growth this year, given the front-loaded nature of its spending plans announced last autumn. "Nonetheless, downside risks to the outlook could dampen growth this year.
KPMG comments on today’s inflation data

Jan 15, 2025 | kpmg.com | Yael Selfin

"Global and domestic pressures set to keep inflation above target in 2025 despite the December respite” says Yael Selfin, Chief Economist at KPMG UK. Global and domestic pressures set to keep inflation above target in 2025“Inflation moderated slightly to 2.5% in December but we expect headline inflation to remain above target over the coming year. Gas prices have increased over the past month as colder than average weather has driven a notable surge in demand.
KPMG UK comments on today’s inflation figures

Nov 20, 2024 | kpmg.com | YouTube. Opens |Yael Selfin

Yael Selfin, Chief Economist at KPMG UK comments on inflation dataYael Selfin, Chief Economist at KPMG UK comments on inflation data“Headline inflation rises above target with upward risks to the outlook on the increase” says Yael Selfin, Chief Economist at KPMG UK. “While the rise in headline inflation was expected, reflecting Ofgem’s increase to the energy price cap, it may not be a one-off upward risk.
KPMG UK comments on today’s GDP data

Nov 15, 2024 | kpmg.com | Yael Selfin

“GDP growth slows despite a pick-up in demand” says Yael Selfin, Chief Economist at KPMG UK. “GDP growth slows despite a pick-up in demand” says Yael Selfin Chief Economist at KPMG UK“GDP growth slows despite a pick-up in demand” says Yael Selfin, Chief Economist at KPMG UK. “Worries about the effect of Budget measures seem to have had a limited effect on consumers and businesses, many of whom have chosen not to ‘wait-and-see’ what the announced measures could bring before committing to spending.
The importance of trying to keep the older customer satisfied

Nov 11, 2024 | thetimes.com | Yael Selfin

A combination of rising life expectancy and low fertility rates means that people over the age of 65 will account for a growing share of the consumer market. By the mid-2030s there could be more people over the age of 65 in developed economies than children under the age of 15. Advances in healthcare and healthier living are behind the rise in life expectancy.
KPMG comments on today’s Bank of England Monetary Policy Committee decision

Nov 8, 2024 | kpmg.com | YouTube. Opens |Yael Selfin

“Bank of England strikes a balanced tone with today’s cut to the bank rate” says Yael Selfin, Chief Economist at KPMG UK. “After a pause in September, the Monetary Policy Committee (MPC) felt compelled to cut the bank rate by another 25 basis points. A cut had been widely expected, as both pay growth and inflation continued to ease in recent data, with both measures significantly below the Bank’s projections at the time of the first cut in rates back in August.
UK economy at a crossroads

Sep 25, 2024 | kpmg.com | Yael Selfin

Weaker growth to leave less room for the Chancellor in the Autumn BudgetWeaker growth to leave less room for the Chancellor in the Autumn BudgetWeaker growth to leave less room for the Chancellor in the Autumn BudgetConsumer spending to remain weak as preference for savings riseGeopolitical risks could lower UK GDP growth by over 0.3%Weaker UK GDP growth will make the Chancellor’s task harder as she finalises the details of her first Autumn Budget.
Growing the UK economy is not the answer to everything

Jul 24, 2024 | thetimes.com | Yael Selfin

The new government has put economic growth at the forefront of its agenda. The King’s Speech last week outlined wealth creation for all communities as a priority, with the objective to see living standards rise in all nations and regions in the United Kingdom. There are a lot of positives associated with targeting economic growth. Among them, making the economy larger provides more resources for the government as the tax take tends to rise.
National Outlook: Ireland

Jul 1, 2024 | kpmg.com | Yael Selfin

Home › Insights › National Outlook: Ireland Technical recession in 2023 driven by slowdown in multinational activity; domestic economy grew modestly as a result of strong levels of consumption and investment Inflation has fallen from recent high levels and expected to stabilise in 2024; indebted households expected to benefit from ECB rate cuts Government finances in stable health, albeit corporation tax base remains volatile and significant investment needed to address existing bottlenecks...