Consumer spending jumps a fifth as cost of living crisis deepens March 21, 2022 Brits are scrambling to tighten their belts amid a cost of living crisis which has sent the price of bills soaring, fresh data has revealed.
1 Minute Market Rundown – 21st March 2022 March 21, 2022 | City Talk Russia – UkraineRisk bouncesCrypto finds support We find it rather telling that on Friday, a day you would have expected risk to be sold as the market headed into the weekend, saw stocks and crypto push higher. Now there could be a number of reasons for this. 1) the market is becoming accustomed to the [...]
Hospitality chiefs call on Sunak to reverse VAT hike or leave London businesses ‘unviable overnight’ March 20, 2022 Hospitality heads have said the government’s plans to increase VAT from current rates of 12.5 per cent to highs of 20 per cent at the start of next month will see some London businesses “become unviable overnight.” Industry chiefs warned that Chancellor Rishi Sunak’s plans to hike consumer taxes on food, soft drinks, accommodation, and [...]
1 Minute Market Rundown – 18th March 2022 March 18, 2022 | City Talk Russia – UkraineRisk bouncesCrypto finds supportDovish hike by the Old Lady Risk continued to hold in well yesterday as equity and crypto markets held on to gains posted recently. Overnight we have seen the equity rally stall as the surge in Chinese tech stocks fizzled out and oil moved back above $100 a barrel. We [...]
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 [...]
UK could see double-digit inflation, chair of John Lewis warns March 17, 2022 Britain may see double-digit inflation, the chair of the John Lewis Partnership has warned. Dame Sharon White’s comments came after the UK registered inflation of five-and-a-half per cent, with the Bank of England predicting it could exceed seven percent, as to raised interest rates on Thursday. Speaking on BBC Radio Four’s Today Programme, she said: [...]
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 [...]
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 [...]
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 [...]