Recession concerns growing rapidly as central banks struggle to put inflation genie back in its bottle June 20, 2022 Despite attempts at a modest rebound on Friday, European markets still finished lower for the second week in succession, posting their lowest weekly closes since March. US markets also finished the week similarly mixed, but also sharply lower, with the S&P500 posting its worst week since March 2020, ahead of the Juneteenth long weekend. “As [...]
British manufacturers beg Treasury for more support to weather ‘the immediate storm’ June 20, 2022 British manufacturers have called on the Treasury to offer more support amid a poor economic outlook to help “weather the immediate storm”. Make UK, trade body for manufacturers, and consultancy BDO found that costs are continuing to rise and output opportunities have been stifled. A survey revealed that two thirds of companies (67.8 per cent) [...]
Indignant brokers fiercely dismiss Martin Lewis’ notion many mortgages are ‘a ticking time bomb’ June 19, 2022 The well-known personal finance guru Martin Lewis recently warned that mortgages are a “ticking time bomb” for homeowners, as he said Brits should lock in cheap mortgage rates soon before monthly payments become unaffordable. Lewis’ comments come as the cost of living for most Brits is climbing fast, with energy bills going up by an [...]
US Federal Reserve official warns investors to brace for more steep rate rises June 19, 2022 The US Federal Reserve will push through more steep rate hikes if inflation shows little sign of letting up, a top stateside central banker said over the weekend. Fed governor Christopher Waller said at a Society for Computational Economics conference in Dallas that “if the data comes in as I expect, I will support a [...]
Central banks face tough journey to ‘Goldilocks’ policy setting June 19, 2022 Goldilocks found the perfect bowl of porridge through trial and error. The US Federal Reserve, Bank of England and the rest of the central banking elite are following a similar rationale right now. They are grasping for that “just-right” policy setting which allows an economy to reach its full potential without knowing what that setting [...]
Week ahead: City braces for further inflation surge June 19, 2022 Investors are bracing for fresh data this week to point to a further surge in UK inflation, sending the rate of price rises beyond an already 40-year high. London’s FTSE 100 last week was caught up in one of the most volatile weeks for global stock markets since the early days of the pandemic. It [...]
Let’s hope the second Brexit battle is less exhausting than the first June 18, 2022 The sequel is rarely as good as the original. Jaws 2, for instance, was beset by problems from the off. Steven Spielberg said he had already directed “the definitive shark movie” and refused to take part – a replacement director, John Hancock, was then booted out, not before complaining that the mechanical shark provided by [...]
Bank of England prepared for ‘aggressive’ action to tackle inflation, says top economist June 17, 2022 The Bank of England's chief economist said policymakers are ready to take “aggressive action” if there is further evidence that soaring inflation is becoming embedded in pricing by firms.
1 Minute Market Rundown – 17th June 2022 June 17, 2022 | City Talk Volatility ReignsUSD Bruised But Beaten YetCrypto Holds….For Now Well yesterday was not a day for the faint hearted – again! The SNB and the BOE both raised rates, one surprising the market by its move and one sticking to the script. The BOE acknowledged that inflation is out of control and the market took this [...]
Solving worker shortages is UK’s ‘national challenge’ June 17, 2022 Solving chronic worker shortages that are hamstringing businesses from reviving the economy is “our national challenge,” according to the chief of the UK recruitment industry’s trade body. A shallower pool of workers, mainly the result of long-term sickness caused by Covid-19, people retiring early and younger Brits heading back into education, is resulting in firms [...]
