Dollar currencies around the world
When you think of a Dollar, you probably think about the USA. Upon independence, the US Congress established the US Mint and declared the Dollar as the national currency in 1792. The Dollar is not an English term though, it’s actually the anglicised version of the German word ‘Thaler’ which was a coin first issued in […]
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% by the end of the […]
Markets react to the resignation of Boris Johnson
This week’s major story is that British PM Boris Johnson has resigned after 59 of his ministers quit within 48 hours. The flurry of resignations followed news that Mr Johnson knew about a history of sexual misconduct concerning Assistant Whip Chris Pincher. Mr Johnson intends to remain as PM until the autumn. Sterling reaction to […]
Westminster wrangling distracts from ongoing economic woes
The ongoing cost of living crisis and domestic politics have dominated the agenda this week in the UK. The bunting from last weekend’s spectacular Platinum Jubilee Celebrations hadn’t even been packed away before the news was out that the Prime Minister would face a vote of no confidence on Monday. We discussed this in an […]
Platinum Jubilee Special: The Queen’s portrait on the world’s currencies
In honour of the Queen’s Platinum Jubilee celebrations this week, we thought we’d take a look at which other countries (besides the UK) feature portraits of Her Majesty the Queen on their currency, both coins and banknotes. To begin with let’s remind ourselves of the countries where the Queen is the Head of State. Besides […]
The new Australian Government and the AUD
On Saturday, Australians went to the polls and for the first time 10 years changed their Government. On Sunday then PM and Liberal Party leader Scott Morrison acknowledged defeat and on Monday the Labor leader Anthony Albanese was sworn into office as Australia’s new Prime Minister. He pretty much straight away flew to Japan (pictured […]
Interest Rates rise around the world
This week has been dominated by Interest Rates… On Tuesday we saw the Reserve Bank of Australia (RBA) raising Interest Rates in Australia to 0.35%. This was the first time they increased rates since 2010 and the announcement came on the back of inflation sitting at 5%, during a contentious national election campaign. On Wednesday, […]
Currency Unions outside of Europe
When you hear the term ‘Currency Union’ you probably think: Euro. Most people would. It’s by far the most high profile and successful monetary union. However what surprises many people is the fact that: a) it’s not the only one currently in existence and; b) it’s not the first one either. In fact there are […]