Europe set to open higher as Bank of Japan keeps policy unchanged March 18, 2022 European and US stocks have continued to recover lost ground this week, despite there being little prospect of a ceasefire, or imminent cessation of hostilities, between Russia and Ukraine. “We did falter a little bit during the European trading session after the Kremlin poured cold water on reports of major progress on peace talks, calling [...]
London’s top indexes jump as Bank of England hikes rates again March 17, 2022 London’s top indexes jumped yesterday after the Bank of England lifted interest rates for the third meeting in a row. The capital’s premier FTSE 100 index climbed 1.28 per cent higher to 7,385.34 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, rose 0.34 per cent [...]
Johnson and Sunak announce as large a tax hike in two years as Blair and Brown did in a decade March 17, 2022 In just two years, Prime Minister Boris Johnson and Chancellor Rishi Sunak have announced the same amount of tax hikes as Tony Blair and Gordon Brown did in a decade, reveals fresh research published today. The Conservative duo will swell the UK’s tax burden by around two per cent of GDP after national insurance and [...]
Expect four more BoE rate hikes this year, economists warn March 17, 2022 Better than expected economic growth and a tightening jobs market will coax the Bank of England into lifting rates four more times this year. That’s according to some analysts’ read of the Bank’s decision to hike rates for the third successive meeting today, sending borrowing costs 25 basis points higher to pre-pandemic levels of 0.75 [...]
Oil markets rebound after IEA warns of supply shortages March 17, 2022 Oil prices have soared nearly seven per cent, following IEA warnings of supply shortages this year with Russian oil increasingly cut off
OECD: Russia-Ukraine war to knock global economy March 17, 2022 Russia’s invasion of Ukraine will shave around one percentage point off of global economic growth this year, reveals new forecasts by the group of rich nations. Disruption to flows of Russian and Ukrainian commodities as a result of the conflict will deliver a sharp blow to the Eurozone economy, according to the Organisation of Economic [...]
Furious Putin lashes out at ‘scum and traitors’ as Ukraine invasion stalls and yet another Russian general is killed March 17, 2022 Russia’s president Vladimir Putin appeared on Russian state television late last night to excoriate Russians who do not back him, even as both sides expressed optimism over efforts to negotiate an end to the fighting. Russians “will always be able to distinguish true patriots from scum and traitors and will simply spit them out like [...]
Bank of England hikes rates for third successive meeting in bid to catch rampant inflation March 17, 2022 The Bank of England today hiked interest rates for the third successive meeting for the first time since 1997 as it tries to catch up with rampant inflation that is threatening to derail the UK economy. Rate setters at Threadneedle Street sent borrowing costs 25 basis points higher, taking them to pre-pandemic levels of 0.75 [...]
1 Minute Market Rundown – 17th March 2022 March 17, 2022 | City Talk Russia – UkraineRisk sentiment improvesFed delivers So there were two big talking points yesterday. Firstly, Chinese authorities decided enough was enough and stepped in to prop up domestic equity markets. They pledged to keep capital markets stable, support oversea stock listings and confirming that regulation of big tech will end soon. Unsurprisingly, Asian stocks saw [...]
Nickel traders plunged into chaos again as LME postpones trading March 17, 2022 Nickel traders were plunged into more chaos this morning as the London Metal Exchange was forced to suspend trading again after further systems failures.