The infoshot to help kick-start your week
Last Week
- New British PM Liz Truss announces plans for a 2-year cap on energy bills to combat the cost of living crisis. The price cap of £2500 will come into effect on October 1st, and last until 2024. The announcement has been met with a mixed response, as opposition parties warn that such measures without taxing energy firms could saddle Britain with debt for decades.
- The ECB decided to raise rates by 75 basis points in its latest move to tackle rampant inflation, the largest single hike since the currency’s inception in 1999. The move came amidst fears soaring energy prices would tip the Eurozone into recession. ECB’s Lagarde noted that there are ‘probably’ between two and five more rate hikes to come.
- Thursday afternoon saw the death of HM Queen Elizabeth II, the world’s longest serving monarch, at age 96. Her tenure spanned post-war austerity, the movement from empire to Commonwealth, the Cold War, and most recently the Covid-19 pandemic.
Market Pulse
Coming Up
- UK Consumer Price Index (Aug YoY) data released 14th September, predicted to come in at 10.2%, a 0.1% increase from July.
- BoE Interest Rate Decision announced 15th September, predicted to be a 50 basis point hike.
- EU Consumer Price Index (Aug YoY) data released 16th September, predicted to come in at 9.1%, a 0.2% increase from July.
Notice:
The performance of each asset class is represented by certain Exchange Traded Funds available to UK investors and expressed in GBP terms selected by Copia Capital Management to represent that asset class, as reported at previous Thursday 4:30pm UK close. Reference to a particular asset class does not represent a recommendation to seek exposure to that asset class. This information is included for comparison purposes for the period stated, but is not an indicator of potential maximum loss for other periods or in the future.Open document settingsOpen publish panel
