Recessionary threads begin to weave through present economic landscape March 29, 2022 This week, Bank of England governor Andrew Bailey warned this year’s energy shock will be bigger than any seen during the 1970s. The ripple effects on consumers from soaring energy bills has sparked a wave of economists to slash this year’s growth forecasts on concerns spending will be knocked by a steep fall in living [...]
Brits splash on the plastic to uphold spending amid cost of living squeeze March 29, 2022 Brits are scrambling to take on debt to maintain spending amid one of the tightest cost of living crises in a generation, new figures released today reveal. Soaring prices and weak pay growth are making it tougher for households to maintain their existing lifestyles, strengthening incentives to use credit cards to plug budget gaps. Data [...]
1 Minute Market Rundown – 29th March 2022 March 29, 2022 | City Talk Russia – UkraineAre we back in 2021?Crypto consolidates You’d be forgiven for thinking you had woken up in early 2021 when looking at some US stocks this morning. AMC up 50%, GameStop up 25% and Bed Bath and Beyond up 17%. Meme stocks seem to be en vogue once again but we will try not [...]
Seeds of progress in Russia-Ukraine peace talks partly offset China slowdown fears in City March 28, 2022 Seeds of progress in peace talks between Russia and Ukraine were enough to partially offset concerns about a looming slowdown in the Chinese economy in the City yesterday. The capital’s premier FTSE 100 index edged down 0.14 per cent to 7,473.14 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the [...]
Russia-Ukraine war has made it nearly impossible for BoE to forecast UK economy, warns governor Bailey March 28, 2022 Uncertainty about how the Russia-Ukraine war will develop has made it nearly impossible for the Bank of England to chart the trajectory of the UK economy, the Bank’s governor warned today. A lack of information on the Kremlin’s next moves in their assault on Ukraine has made it harder to forecast the direction of the [...]
Sunak repeats tax cuts pledge despite playing down low-tax Chancellor image March 28, 2022 Rishi Sunak today reiterated his commitment to cutting taxes in the future, despite playing down claims he has styled himself as a low-tax Chancellor. Responding to a grilling by MPs on the cross-party Treasury Select Committee, Sunak said his “priority at this point forward is to keep cutting taxes, not to increase public spending”. However, [...]
Brits’ inflation expectations scale to record high March 28, 2022 Britons’ expectations of where inflation will land in a decade has climbed to the highest level ever, reveals a closely watched survey published today. Households think the rate of price rises will still be more than double the Bank of England’s two per cent target in 10 years’ time, running at 4.4 per cent, according [...]
1 Minute Market Rundown – 28th March 2022 March 28, 2022 | City Talk Russia – UkraineBanks predict a more aggressive FEDCrypto looks to break out…finally Markets currently have two themes. The first is the bond market which continues to trade as if it’s on the receiving end of a slap from Will Smith. Yields relentlessly push higher as the market continues to reprice an even more hawkish FED. [...]
Soaring energy bills to drag on UK economy, new forecasts reveal March 28, 2022 Swelling energy bills are set to drag on the UK economy this year by sending a chill through household spending, reveals new research published today. Household energy bills will almost double in October even after rebates are handed out, according to new forecasts published by the EY Item Club today. The downbeat assessment adds to [...]
Sunak eyes another council tax rebate after poor response to his spring statement March 28, 2022 Rishi Sunak is considering a further council tax rebate for Brits struggling with the cost of living crisis, after his spring economic statement was met by a very poor response on Wednesday. The chancellor is reportedly now looking into offering a further multi-billion pound package to help people with soaring energy bills and other household [...]