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!

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A positive week for Sterling

A positive week for Sterling

Following the drama of the last couple of weeks, the last five days have been relatively quiet on the economic front. There were no major economic releases coming out of the UK. Over the course of the week, we’ve seen the Pound slowly gain ground against both the Euro and

UK digests new economic policies announced in Autumn Statement

UK digests new economic policies announced in Autumn Statement

It has been a huge week for the UK economy. On Tuesday the rate of unemployment rose slightly from 3.5% to 3.6%. This was swiftly followed by higher-than-expected inflation figures on Wednesday. UK inflation is now sitting at a whopping 11.1%, a 41-year high. Yesterday we saw the Autumn Statement

UK braced for next week’s big Budget Statement

UK braced for next week’s big Budget Statement

It’s been a mixed week for the markets.  This morning saw the announcement of new GDP figures which showed the UK economy had contracted by 0.2% in the last quarter, pushing the UK ever closer to officially being in recession. It’s worth noting that the Bank of England already believes

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