Bank of England to look through Omicron and hike rates this month December 2, 2021 The Bank of England will plough ahead and hike interest rates for the first time three years this month despite concerns the Omicron variant could whack the UK economy, according to City analysts. Strong booster jab take up and high levels of existing immunity stemming from the successful vaccination programme has put the British economy [...]
Bullish Omicron assessments boost global markets December 1, 2021 A string of bullish assessments from global health leaders downplaying the severity of the Omicron variant boosted global markets yesterday. Investors shook off concerns over the Covid-19 variant derailing the world’s fight against the pandemic and poured back into stocks. London’s premier FTSE 100 index shot up 1.55 per cent to close at 7,168.68 points [...]
US Fed chief Powell insists inflation will pull back despite casting doubt over central bank’s forecasts December 1, 2021 The chief of the US Federal Reserve today insisted price rises in America should pull back from a three-decade high in the middle of next year despite casting doubt over the central bank’s own inflation forecasts. Jerome Powell said the Fed expects inflation to fall “significantly” in the second half of next year, while in [...]
Long term shipping costs up 465 per cent amid supply chain crisis December 1, 2021 Industry experts have warned politicians that supply chain disruption is having a big impact on the costs of shipping contracts.
OECD hikes UK economy forecast propelling Britain to top of G7 table, but inflation set to bite December 1, 2021 The organisation overseeing the world’s richest economies hiked its forecasts for the UK economy this year and next year, propelling Britain to the top of the G7 rankings for growth. The UK economy will expand 6.9 per cent this year, 0.2 percentage points higher than previously expected, according to the Organisation for Economic Development’s (OECD) [...]
UK factories stung by ‘relentless’ cost hikes as supply chain crisis rumbles on December 1, 2021 UK factories are being stung by record cost increases as the supply chain crisis continues to drag on, according to a closely watched survey released today. Prices for raw materials and crucial inputs used by British manufacturers accelerated at the fastest pace since IHS Markit and the Chartered Institute of Procurement and Supply (CIPS) started [...]
What are bull and bear markets? December 1, 2021 | City Talk TLDR Bull market 👍 Bear market 👎 The terms “bull” and “bear” can be used to describe the behaviour and condition of financial markets or individual assets, reflecting substantial trends of 20% either upwards or downwards respectively, typically over a sustained period of time. They are also terms that reflect the sentiment of investors. Investors being [...]
US Fed chief Powell retires word ‘transitory’ to describe inflation December 1, 2021 US Fed Chief Jerome Powell said inflation would stick around for longer than hoped yesterday as a glut of global data suggested rising prices could slow the global recovery. Powell said yesterday it was time to “retire” the word “transitory” to describe the rapid pace of price hikes currently spiking the world economy. His shift [...]
Cocktail of headwinds freeze business confidence November 30, 2021 A cocktail of soaring inflation, ongoing staff shortages and looming tax hikes is leaving optimism about the UK economy among business leaders unstuck, according to new research published today. The Institute of Directors’ (IoD) economic confidence index, a closely watched survey taking the pulse of optimism among business leaders, remained unchanged at minus six in [...]
UK economy to return to anaemic growth as cost of living crisis spikes Brits November 30, 2021 A triple threat of a worsening cost of living crisis, higher interest rates and a pulling of government Covid-19 support will throw the UK economy back into an anaemic state, according to new research published today. Swelling energy bills and rising costs for basic necessities will cause households on tight budgets to rein in spending, [...]
