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Bad News .
For the Tory party today, as the local elections are taking place.
The pound tumbles to it's lowest rate since june 2020. Also it looks very very likely that the Boris is driving his little red bus into Recession for the UK.....Just saying,.
The pound tumbles to it's lowest rate since june 2020. Also it looks very very likely that the Boris is driving his little red bus into Recession for the UK.....Just saying,.
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it has grown steadily against the Euro since summer 2020
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I think he may be rattling the cot rails again because the Pound and Euro have dropped against the dollar due to the impact of the Russian oil embargo. America has its own supplies thanks to Trump's policies when he was steering. The FTSE was up 100 points mind. I think he has been eating the crayons again.
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If you doubt GULLY's financial knowledge,
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"Pound tumbles to two-year low as stagflation fears rise – as it happened"
'Matthew Ryan, senior market analyst at global financial service firm, Ebury, says the Bank’s Monetary Policy Committee looks more divided on policy than we’ve seen in some time.
"The vote on interest rates was more hawkish than we had expected, with all nine members in support of an immediate hike and three in favour of a 50 basis point move. The bank’s inflation assessment was also upgraded, with price growth now set to peak in excess of 10% later this year.
The MPC does, however, appear highly concerned about the impact of rising commodity prices on growth, and now expects the UK economy to contract in 2023. The tweaking of the bank’s wording on future policy moves is all pretty vague and muddled, and suggests to us that policymakers are unsure on upcoming policy moves ahead of a potentially damaging period of ‘stagflation’."'
https:/
"Pound tumbles to two-year low as stagflation fears rise – as it happened"
'Matthew Ryan, senior market analyst at global financial service firm, Ebury, says the Bank’s Monetary Policy Committee looks more divided on policy than we’ve seen in some time.
"The vote on interest rates was more hawkish than we had expected, with all nine members in support of an immediate hike and three in favour of a 50 basis point move. The bank’s inflation assessment was also upgraded, with price growth now set to peak in excess of 10% later this year.
The MPC does, however, appear highly concerned about the impact of rising commodity prices on growth, and now expects the UK economy to contract in 2023. The tweaking of the bank’s wording on future policy moves is all pretty vague and muddled, and suggests to us that policymakers are unsure on upcoming policy moves ahead of a potentially damaging period of ‘stagflation’."'
gulliver - // The Governor of the B.O.E Warned Boris today that the UK will plunge into recession well before the end of this year. //
The report I heard advised that it's predicted that the economy will dip in two separate months, but since the months are not consecutive, it does not trigger a recession.
The report I heard advised that it's predicted that the economy will dip in two separate months, but since the months are not consecutive, it does not trigger a recession.
