Gold prices dive as hawkish Federal Reserve prepares to counter inflation with interest rate hike June 13, 2022 Gold prices plummeted $20 per ounce today with growing expectations of a hefty basis point hike in interest rates from the Federal Reserve this week.
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 [...]
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 [...]
Bank of England hints further interest rates are coming soon to bring down highest inflation in four decades May 20, 2022 As the British economy is hit by high levels of inflation, the Bank of England’s chief economist said today interest rates might need to rise further in the near future. Huw Pill said the 9 per cent inflation rate – the highest in 40 years – is a “very uncomfortable situation” for decision-makers at the [...]
Gold under pressure amid interest rate hike concerns January 31, 2022 Gold prices chalked up its biggest weekly loss last week since September, with the Federal Reserve finally set to hike interest rates.
Exclusive: The challenges and hurdles City finance chiefs will face in 2023 January 4, 2022 Firms across practically every industry in the UK are facing a bleak economic winter ahead, but where is that playing out and what hurdles do the incoming storm clouds bring in 2023? City firms will be turning to one senior figure to understand these issue and look to keep the ship afloat – the Chief [...]
Biden boost: US unemployment falls as 531,000 jobs added in October November 5, 2021 US employment increased more than expected last month as the headwind from the surge in Covid-19 infections over the summer subsided, offering more evidence that economic activity was regaining momentum in a boost for Joe biden. Nonfarm payrolls increased by 531,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Data [...]
City rejects looming interest rate rise: ‘Old Lady should adopt Maradona theory’ October 14, 2021 Markets are increasingly betting that the Bank of England will raise interest rates before Christmas to contain spiralling inflation. The shift came after two of the Old Lady’s most senior officials gave the strongest signal yet that the central bank is ready to choke off inflation. Strengthening predictions over a looming rate hike triggered a [...]
West watches on as Bank of Korea raises interest rates August 26, 2021 The Bank of Korea is raising interest rates in a shift away from pandemic era monetary policy as the country faces spiralling public debt. The interest rate climbed 25 basis points from a rate of 0.5 per cent to 0.75 per cent following a 10 per cent increase in household debt and a 14.3 per [...]
Exclusive: CEO of deVere Group on why Bitcoin bashers have got it all wrong June 24, 2021 Bitcoin and other cryptocurrencies have experienced a major sell-off this week following China’s crackdown on the sector. Around $400bn in value has been wiped from the total digital currency market since Friday, when a major Bitcoin mining hub ordered miners to shut down operations. It followed reports saying that China’s central bank had a meeting [...]