UK Interest Rate rise

Another week of destruction in the Ukraine has tragically been the main news this week once again. Sanctions have continued to be extended, the Russian stock market remains closed and the one rouble is now worth just $0.009.

The big economic news this week has been in both the US and UK; where interest rates have been raised to 0.25% and 0.75% respectively. This is the first US rate rise since 2018 and in the UK, the rates are now back to pre-pandemic levels.

In currencies the PoundEuro pushed a new post-Brexit high on Sunday before falling back again later in the week. Against the Dollar, the Pound made a slight gain over the last few days after a low at the end of last week. One key point came at the start of the week when the Euro dipped below 1.10 against the Dollar for the first time in nearly two years. Commentators have started to reflect that increasing regional economic and political instability could see the pairing reach parity.

Another key figure released this week showed that the UK unemployment rate has now reached its pre-pandemic rate now sitting at 3.9%.

In some positive news, utilising the technology and science of the covid vaccines, scientists have begun trials of a preventative HIV vaccine!

Previous updates...

BoE Governor: Expect 13%+ Inflation and a Recession!

BoE Governor: Expect 13%+ Inflation and a Recession!

The key update of the week is that the Bank of England has increased its interest rate by 0.5%, the largest increase since the Bank’s operational independence in 1997.  The rate rise comes on the back of a dismal economic forecast by the BoE that forecasted inflation rates of 13%

Fears of recession loom as inflation spirals and confidence declines

Fears of recession loom as inflation spirals and confidence declines

This week has been dominated by the fears of a looming recession following the release of key GDP and confidence data. Significant news was released on Thursday when it emerged that the US economy shrank for a second consecutive quarter. This technical recession is due to a 0.9% GDP contraction

Interest rate rises in the Eurozone & Canada

Interest rate rises in the Eurozone & Canada

It has been a big week in the EU with plenty of data and political action. The ECB has increased interest rates by 0.5%, the first rate rise in the Eurozone since 2011. It comes at a time when inflation has hit record highs of 8.6% and the economic gulf

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