Exclusive: Moneyfarm’s rising star CEO on disrupting finance and the M&G deal that got the City talking June 14, 2022 Moneyfarm is a pan-European digital wealth manager with around 80,000 active investors and more than £2.2bn invested on its platform. Until recently it has been better known in Italy than the UK, but this is likely to change very soon, a confident Giovanni Daprà – co-founder and CEO of Moneyfarm – tells City A.M. today. [...]
European Central Bank confirms first rate rise in over a decade next month June 9, 2022 The European Central Bank (ECB) today confirmed it will hike rates for the first time in over a decade in a sign that the era of loose policy and low inflation is coming to an end. President Christine Lagarde and co said the central bank will lift rates 25 basis points next month, which will [...]
Happening down under this a.m.: Australian central bank hikes interest rate for second time in five weeks June 7, 2022 Australia’s central bank this afternoon local time lifted its benchmark interest rate for a second time in five weeks, changing the cash rate to 0.85 per cent from 0.35 per cent. When the Reserve Bank of Australia raised the rate by a quarter of a percentage point at its last monthly board meeting on May [...]
IMF warns inflation is a ‘clear and present danger’ and is here to stay May 24, 2022 IMF First Deputy Managing Director Gita Gopinath has said that inflation “will remain significantly above central bank targets for a while.” She added: “It is very important for central bankers around the world to deal with inflation as a clear and present danger, that is something they need to deal with in a very forceful [...]
Recession concerns vie with inflation risk for investors in unpredictable market week ahead May 23, 2022 It was aother week of declines for US markets on Friday, with the S&P500 closing lower for the seventh week in succession, making a fresh 18 month low, and briefly retracing 50 per cent of the move from its 2020 lows to its record highs late last year. The Nasdaq 100 similarly pulled off new [...]
Expect no help: Boris Johnson warns any state support to fight cost of living crisis merely pushes up inflation even further May 3, 2022 Prime Minister Boris Johnson insisted this morning his Government is doing “everything we can” to help with the cost-of-living crisis. However, Johnson hinted there is only so much he can do because, in an interview on ITV’s Good Morning Britain, the Prime Minister warned that increasing state support beyond its current levels could drive inflation [...]
ECB gets more nervous by the day as Eurozone inflation hits highest level ever: Sixth record in a row April 29, 2022 Inflation hit a new record for the 19 countries that use the euro as skyrocketing fuel prices boosted by the war in Ukraine add new burdens to household finances and weigh on a slowing economic recovery from the latest outbreaks of Covid-19. Annual inflation hit 7.5 per cent for April, the highest since statistics started [...]
Eurozone inflation forecast to double this year as industry confidence plummets April 16, 2022 Inflation in the eurozone is anticipated to double to six per cent this year, piling more pressure on the European Central Bank to hike interest rates. Inflation expectations have shot up from an average of three per cent to six per cent in 2022, according to the ECB’s quarterly survey of economists. This is three [...]
Euro zone inflation hits record 7.5 per cent as slowing growth puts pressure on ECB April 1, 2022 Inflation in the Euro zone soared to almost four times the European Central Bank’s target, registering at a record 7.5 per cent last month. European countries faced the prospect of slowing growth and rising costs, with the war in Ukraine continuing to put renewed pressure on gas and energy prices. The EU’s package of sanctions [...]
Highest since 2015: Russian inflation goes through the roof as level accelerates to 12.5 per cent March 23, 2022 It seems another headache is coming Vladimir Putin’s way as inflation in Russia has shot up to 12.5 per cent, the country’s highest level since 2015. Annual inflation in Russia accelerated to 12.5 per cent as of March 11, its highest since late 2015 and up from 10.4 per cent a week earlier, the economy [...]