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 […]
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 […]
By Greg Smith on Monday, September 12th, 2022
in Blog, Market Insights
GBP – UK enters national mourning following the death of Queen Elizabeth II Queen Elizabeth II, Britain’s longest-reigning monarch, died peacefully at her estate in Balmoral, Scotland on Thursday. A period of National Mourning has started, with a huge outpouring of grief and remembrance of the incredible amount that Queen Elizabeth gave to the UK […]
By Greg Smith on Monday, September 5th, 2022
in Blog, Market Insights
GBP – Liz Truss to be announced as New PM It is widely expected that Liz Truss will be announced as the new leader of the Conservative Party at lunchtime. The new Prime Minister will be formally installed tomorrow. There are hopes and expectations that further significant support for rising energy costs will be provided […]
By Greg Smith on Monday, August 22nd, 2022
in Blog, Market Insights
GBP – UK Inflation above 10% and going higher The latest inflation reading last week was a reminder that price pressures are the key economic issue. Inflation rose by more than expected, with UK Inflation above 10% for the first time in 40 years. We are likely to see an even larger rise in October […]
By Greg Smith on Monday, August 8th, 2022
in Blog, Market Insights
GBP – BoE hike 50bps, but downbeat on the economy The Bank of England’s Monetary Policy Committee was downbeat about economic conditions, as they raised rates by 50bps. The BoE suggested that the UK economy is likely to enter a recession later this year which they think could last for over a year. Policymakers expect […]
By Greg Smith on Monday, August 1st, 2022
in Blog, Market Insights
GBP – Bank of England to hike, but will it be 50bps? The Bank of England’s Monetary Policy Committee provide their latest update with a sixth rate hike in a row expected. The previous five hikes have been 0.25%, but there is a chance this time that they could raise rates by 50bps. Since June, […]
By Greg Smith on Tuesday, July 19th, 2022
in Blog, Market Insights
GBP – Inflation print and Final two potential Prime Ministers Following Boris Johnson’s resignation, the Conservative leadership contest will be closely watched. The party’s MPs are set to decide on the final two candidates by Thursday. Ahead of that, there are televised debates. So far the reaction has been limited, though some of the tax […]
By Greg Smith on Monday, July 11th, 2022
in Blog, Market Insights
GBP – Boris Johnson resigns, replacement process underway Boris Johnson resigns as Prime Minister, with the party eventually turning on him. This week, the Conservative Party’s 1922 Committee will confirm the timetable and process to choose a new Prime Minister. The expectation is that the process will be complete with a new leader/PM in place […]
By Greg Smith on Monday, July 4th, 2022
in Blog, Market Insights
GBP – BoE decision-makers panel to inform MPC This week, we will see the results of the BoE decision-makers panel. This is a survey of the views of businesses and the results will likely have an impact on the Monetary Policy Committee’s August decision. The MPC will be looking for signs of inflation pressures easing […]
