18 April 2023 - BoE seeks greater protection for savers
The UK is set to rebound strongly in the second half of the year according to separate reports released by two of the country’s most prominent accounting firms. The fact that the country managed to dodge a recession last year is a significant indicator that better times are, although the cost of living crisis is holding back consumers from loosening the self-imposed shackles that have been imposed by rising energy and food prices. Reaction to the IMF's rather gloomy prediction that the economy would be the worst performing in the G20 this year fails to note that the miniscule increase in GDP this year needs very little to see it improve to a level which puts it on a par with the U.S. and Eurozone. Both are predicted to suffer recessions this year. The Bank of England may have stumbled onto the most effective method of tightening monetary policy since it began to hike rates in December 2021. Little and often has been the watchword of the Central Bank, while both the Fed and ECB have been far more aggressive. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.