Weekly Report – Autumn Statement as expected, inflation peaks at 11.1%

By Greg Smith on Monday, November 21st, 2022

in Blog, Market Insights

GBP – Autumn Statement as expected, inflation peaks at 11.1% The Autumn Statement was delivered by Chancellor Jeremy Hunt last week.  In the end, there were no major surprises as so much had been briefed to the markets.  There were measures to increase taxes and cut spending in order to meet fiscal rules and restore […]


Weekly Report – Autumn Statement to outline spending cuts and tax rises

By Greg Smith on Monday, November 14th, 2022

in Blog, Market Insights

GBP – Autumn Statement to outline spending cuts and tax rises The main event this week is the Chancellor’s Autumn Statement on Thursday.  The fiscal update will come alongside the latest forecasts from the Office for Budget Responsibility. The Bank of England’s latest forecasts were a couple of weeks ago, so any differences will be […]


Weekly Report – BoE hike 0.75%, GDP to signal the start of a recession

By Greg Smith on Monday, November 7th, 2022

in Blog, Market Insights

GBP – BoE hike 0.75%, GDP to signal the start of a recession As expected the Bank of England raised interest rates last week.  The BoE hike of 0.75% was higher than some expected, and several of the members voted for smaller rate hikes.  Overall, the BoE was more ‘dovish’ than markets expected with a […]


Weekly Report – Rishi Sunak new PM, fiscal policy delayed

By Greg Smith on Monday, October 31st, 2022

in Blog, Market Insights

GBP – Rishi Sunak new PM, fiscal policy delayed  Last week, we had confirmation of Rishi Sunak as the new Prime Minister.  The market has responded positively to the abrupt turnaround in fiscal policy announced by the new Chancellor of the Exchequer Jeremy Hunt.  There was no real market concern with the delay of the […]


Weekly Report – New Prime Minister and Fiscal plan awaited

By Greg Smith on Monday, October 24th, 2022

in Blog, Market Insights

GBP – New Prime Minister and Fiscal plan awaited Political turbulence continues to be the main driver of the markets in the UK.  Last week, we saw the reversal of the mini-budget measures by Chancellor Jeremy Hunt lower gilt yields and support the pound.  Following continued chaos in the government, Liz Truss resigned, and the […]


Weekly Report – Government and BoE try to calm markets

By Greg Smith on Monday, October 17th, 2022

in Blog, Market Insights

GBP – Government and BoE try to calm markets The focus in the UK remains on the ongoing chaos with the government and their failed mini-budget.  Chancellor Kwasi Kwarteng was sacked and some of the mini-budget measures have already been reversed.  The new Chancellor, Jeremy Hunt will provide a review of the measures and the […]


Weekly Report – UK Parliament returns whilst volatility continues

By Greg Smith on Monday, October 10th, 2022

in Blog, Market Insights

GBP – Parliament returns whilst volatility continues Parliament returns from the conference recess tomorrow, with the spotlight on Prime Minister Truss’s government.  The government decided against the abolition of the 45p tax rate, which was damaging in terms of credibility.  The Chancellor’s fiscal plan, with OBR forecasts, will now be published at the end of […]


Weekly Report – Extraordinary Bank of England action boosts sterling

By Greg Smith on Monday, October 3rd, 2022

in Blog, Market Insights

GBP – Extraordinary BoE action boosts sterling, Conservative conference  Last week, we saw sterling fall to a record low of $1.04 against the US dollar on concerns over the Chancellor’s growth plan.  Then came the extraordinary BoE action, with emergency measures amid the turmoil in markets.  The BoE delayed its planned active gilt sales and […]


Market Report – Sterling tanks following government mini-budget; Inflation to rise further in Europe – Sweden, Norway and Swiss hike rates; Fed hike 0.75% for the third time to combat inflation

By Greg Smith on Monday, September 26th, 2022

in Blog, Market Insights

GBP – Sterling tanks following government mini-budget The mini-budget from Chancellor Kwarteng on Friday announced significant stimulus measures. The focus was on tax cuts set out during the leadership election. The planned increase in corporate taxes was cancelled. The standard rate of income tax will be reduced to 19p and the top tax rate will […]


Market Report – Bank of England and mini-budget follow the funeral of Queen Elizabeth II; Swedish Riksbank hike 1%, with Norges Bank and SNB to follow; Fed to hike at least 0.75% for the third time 

By Greg Smith on Tuesday, September 20th, 2022

in Blog, Market Insights

GBP – Bank of England and mini-budget follow the funeral of Queen Elizabeth II With a shorter week for the UK, following a period of morning and the Queen’s funeral, the Bank of England will now go ahead with their September meeting.  The markets expect a second 0.5% rate hike. There is likely to be […]


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