Chancellor delivers the Spring Statement

It’s been another week of not particularly positive news this week. 

The war in Ukraine continues to dominate the headlines. Yesterday marked the bleak milestone of the war passing into its second month.

It was a big week in the UK which saw the Chancellor deliver his spring statement. 

The speech saw him simultaneously take with one hand and give back with the other, leaving many unsure of what the actual financial implications will be. 

It was all marred by the recently released inflation figures, showing it now being at the highest level in 30 years, hitting 6.2%. 

It is now expected that within the next few months inflation will hit 8%.

Against the Dollar, Sterling has stayed pretty much flat with very little movement. It is the same picture in Sterling-Euro and Euro-Dollar.

In the US there was some good news, recently released figures showed that unemployment was down to its lowest rate since 1969!

In some positive news, a brand new species of frogs have been discovered in Ecuador whose skin is 100% transparent!

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Interest Rates rise around the world

Interest Rates rise around the world

This week has been dominated by Interest Rates…  On Tuesday we saw the Reserve Bank of Australia (RBA) raising Interest Rates in Australia to 0.35%. This was the first time they increased rates since 2010 and the announcement came on the back of inflation sitting at 5%, during a contentious…

Twitter leads the news

Twitter leads the news

It’s been a relatively quiet week as we enter the second big Bank Holiday weekend of the year. There have been no major economic releases in the UK for the last several days. Internationally we’ve seen inflation increase in Australia and hit 7.8% in Germany. EU-wide we’ve seen GDP figures…

UK inflation hits 7%

UK inflation hits 7%

It’s been a while since the last update due to the long Easter Bank Holiday. In the last two weeks we’ve not seen much good news on the economic front.   Around the world inflation has continued to rise, the cost of living has increased and the war in Ukraine has…

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Sonny Hellmers

Senior currency specialist