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 CPI between June and July, […]

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 for Q2 following a 1.6% […]

Euro hits parity with USD for first time since 2002

Unsurprisingly, inflation continues to be the topic of the moment with figures announced Wednesday showing US prices rising 9.1% in June compared to a year ago, the highest rate in 40 years. Wednesday’s result was surprisingly higher than consensus estimates of 8.8%. Inflation continued to be led by large food and fuel price increases but […]

A turbulent week for the UK economy

It’s been another difficult week for the UK economy. Figures released this week showed that in April, the UK economy shrank by 0.3%, following on from the 0.1% contraction in March. This has led to a number of influential figures including a former Chancellor suggesting the UK was almost certainly headed for a recession. We […]

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 […]

The world’s newest and oldest currencies

(Public Domain Image, University of Birmingham Library) c.800AD: Pound Sterling Pretty much for as long as there has been an England, there has been the Pound. Even before 1066 and William the Conquerer, the British Isles have been using some form of Pound. The Pound Sterling began back in the reign of King Offa of […]

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, […]

2021’s best and worst performing currencies

(It’s been another great year for Renminbi) Doing well: Chinese Yuan It has been a really strong year for the Renminbi. Starting off the year at over 9 CNY to 1 GBP, the Chinese Yuan (CNY) has outperformed the pound. Over the course of the year, we have seen rates as low as 8.1. As […]