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April 12, Bank of England Monetary Policy Committee member Green said on Saturday that it is not clear what impact Trumps import tariffs will have on British inflation, and the unpredictable trend of the US dollar makes this mystery more difficult to solve. Green said in a panel discussion at the Delphi Economic Forum in Greece that the increase in trade barriers may drag down economic growth in European countries, "but the implications for inflation are unclear." But Green said that the most important thing to pay attention to is the change in the exchange rate: "The key channel is actually the exchange rate, and this is really difficult because the exchange rate has not been running as the model shows in the past week." "The US dollar exchange rate has fallen, not appreciated as people expected."According to AFP: World Health Organization member states reached an "in principle" agreement on Saturday to respond to future pandemics.On April 12, the United Nations Office for the Coordination of Humanitarian Affairs said in a letter released on the 11th that due to the "brutal cuts" in funding, especially the US governments drastic suspension of foreign aid, the agency will lay off 20% of its staff, or more than 500 staff members. According to AFP, Tom Fletcher, the United Nations Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, wrote in a letter to staff that the agency "faces the most difficult situation ever." The United Nations Office for the Coordination of Humanitarian Affairs currently has a total of about 2,600 staff members working in more than 60 countries and regions, providing long-term assistance to conflict areas such as Ukraine, the Gaza Strip, and Sudan.Irans top diplomat: If the United States participates in the negotiations on an equal footing, there is a chance to reach a preliminary consensus in further negotiations.The European Mediterranean Seismological Center revised the epicenter magnitude of the Pakistan earthquake from 5.8 to 5.2.

0.8450 is being reached by EUR/GBP as the prospect of a UK recession looms

Daniel Rogers

Aug 05, 2022 14:46

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Following a huge upward rise from 0.8360 on Thursday, the EUR/GBP pair has subsequently turned sideways around 0.8430 in the Tokyo session. After the Bank of England (BOE) hiked interest rates by 50 basis points, the cross displayed a significant upward rise (bps) (bps). The BOE lifted interest rates by 50 basis points in succession, bringing them to 1.75 percent.

 

The investing community is aware that UK household earnings have been unsteady during the preceding few months. In addition, the economy's inflation rate is fast expanding. The inflation rate was 9.4 percent prior. The recent statement by BOE Governor Andrew Bailey that price increases might exceed 13 percent has sent shockwaves across the market.

 

The runaway inflation is now escalating, leaving the BOE with very little flexibility to tighten its monetary policy. The BOE is in poor shape as a result of the dismal economic data and the continuing political upheaval following the departure of UK Prime Minister Boris Johnson. A recession in the UK economy is extremely probable in the case that the inflation rate is close to 13 percent.

 

German manufacturing order numbers for the Eurozone have decreased by 0.4 percent against an anticipated 0.8 percent decline and a prior monthly contraction of 0.2 percent. Falling orders from factories indicate sluggish demand in Germany as a whole. It is vital to remember that Germany is a key element of the European Union (EU), and that economic data from Germany has a huge effect on people who favor the common currency.


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