Chancellor delivers the Spring Statement

It’s been another week of not particularly positive news this week. 

The war in Ukraine continues to dominate the headlines. Yesterday marked the bleak milestone of the war passing into its second month.

It was a big week in the UK which saw the Chancellor deliver his spring statement. 

The speech saw him simultaneously take with one hand and give back with the other, leaving many unsure of what the actual financial implications will be. 

It was all marred by the recently released inflation figures, showing it now being at the highest level in 30 years, hitting 6.2%. 

It is now expected that within the next few months inflation will hit 8%.

Against the Dollar, Sterling has stayed pretty much flat with very little movement. It is the same picture in Sterling-Euro and Euro-Dollar.

In the US there was some good news, recently released figures showed that unemployment was down to its lowest rate since 1969!

In some positive news, a brand new species of frogs have been discovered in Ecuador whose skin is 100% transparent!

Previous updates...

GDP falls for the second quarter in a row.

GDP falls for the second quarter in a row.

This week has been considerably quieter economic data front, perhaps a relief given the volume of negative news recently. US inflation figures were released on Wednesday with consumer prices rising 8.5% in July, the rate of increase has been calmed slightly as fuel prices fell. No increase was recorded in

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

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