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!

Want to recieve The Friday Update straight into your inbox?

Previous updates...

No10 parties, energy bills and rising prices… again!

No10 parties, energy bills and rising prices… again!

If you get a sense of deja-vous when reading this, don’t worry, you’re not the only one. Once again this week has been dominated by parties in Downing Street, energy bills and the cost of living crisis affecting the UK (and the rest of the world.) The week started with…

Inflation, Inflation, Inflation.

Inflation, Inflation, Inflation.

This week is all about Inflation, Inflation, Inflation! On Wednesday the ONS released its latest CPI figures showing that UK inflation was now at 9%. This is the highest rate in 40 years and is alarming for the Bank of England, who are committed to keeping the rate at just…

Recession on the cards for Britain?

Recession on the cards for Britain?

It’s been a difficult week for the UK economy this week. Figures released yesterday showed that the economy had contracted in the last month and that over Q1, growth was only 0.8% vs an expected 1%.  It has led to further speculation that the UK could be headed towards a…

1 7 8 9 10 11 14

Discover more from Finseta

Subscribe now to keep reading and get access to the full archive.

Continue reading

Sonny Hellmers

Senior currency specialist