News in Review Archives - DGS Chartered Financial Planners

News in Review

News in Review Wednesday 10th August 2022

After five successive smaller rises, last week saw the Bank of England’s Monetary Policy Committee (MPC) up the ante and increase Bank Rate by 0.5 percentage points, the biggest rate hike since the MPC was established in 1997.

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News in Review Wednesday 3rd August 2022

Last week saw the International Monetary Fund (IMF) release its latest economic assessment and forecast for the global economy. Following the effects of the pandemic and Russia’s invasion of Ukraine, the IMF now expects growth to slow to 3.2% in 2022, a downgrade of 0.4 percentage points from its previous publication in April.

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News in Review Wednesday 27th July 2022

Retail sales edged lower last month as people reduced their fuel consumption, while households continue to struggle with fast rising prices. According to the most recent Office for National  Statistics (ONS) data released last Friday, retail sales volumes fell by a smaller-thanexpected 0.1% in June; economists surveyed in a Reuters poll had widely expected a […]

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News in Review Wednesday 20th July 2022

Data released from the Office for National Statistics (ONS) last week shows how the UK economy returned to growth in May, recording expansion of 0.5% during the month. After shrinking in April and March, the growth experienced in May was higher than the flat growth widely anticipated by economists polled by Reuters.

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News in Review Wednesday 13th July 2022

Political news came thick and fast over the last week or so. Following Boris Johnson’s resignation last Thursday, a timetable for succession has now been announced by the 1922 Committee of  backbench MPs, with potential  contenders already jockeying for position as the race to replace the PM begins. The economy and the cost-of-living crisis are […]

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News in Review Wednesday 6th July 2022

Despite a combination of economic and inflationary headwinds, homebuying demand remained strong during Q2 according to the most recent Homebuyer Hotspot’s Demand Index from GetAgent.

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News in Review Wednesday 29th June 2022

UK retail sales contracted in May as consumers reduced their spending, according to data released by the Office for National Statistics (ONS) last Friday.

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News in Review Wednesday 22nd June 2022

The Monetary Policy Committee (MPC) voted to raise Bank Rate last week, hiking the rate from 1% to 1.25%, the fifth consecutive rate rise. The MPC voted six to three to raise the rate by 0.25 percentage points, with the members in the minority voting for a 0.5 percentage point rise to 1.5%. Pushing the […]

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News in Review Wednesday 15th June 2022

The release of the latest Economic Outlook from the Organisation for Economic Co-operation and Development (OECD) last week, highlighted that global GDP is now projected to slow this year to around 3%, remaining at a similar pace next year.

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News in Review Wednesday 8th June 2022

Over the last week, the Queen’s Platinum Jubilee celebrations largely dominated the news. The extended bank holiday weekend provided an opportunity for people and communities throughout the UK to come together to celebrate the historic milestone.

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News in Review Wednesday 1st June 2022

” I am not trying to claim we have solved the entire problem for everyone… no government could”

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News in Review Wednesday 25th May 2022

Inflation continues its ascent, with the Consumer Price Index (CPI) rising to 9.0% in the 12 months to April 2022, up from 7.0% in March, according to the latest data from the Office for National Statistics (ONS). Rishi Sunak addressed the Confederation of British Industry last week, following release of the latest data saying, “the […]

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News in Review Wednesday 18th May 2022

With challenging financial and economic news in abundance, there are some good signs at least for the UK car industry. Recent analysis from the Society of Motor Manufacturers and Traders (SMMT) has shown that sales of used cars in the UK increased by 5.1% in Q1, with 1,774,351 cars changing hands.

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News in Review Wednesday 11th May 2022

Interest rate rises were big news last week on home shores, across the pond and in Australia, as central banks acted in an effort to curb inflation. The Monetary Policy Committee voted by a 6-3 majority to increase Bank Rate by 0.25 percentage points to 1%, with further tightening expected in the coming months. Interestingly, […]

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News in Review Wednesday 4th May 2022

The US economy contracted in Q1 as surging inflation and supply disruptions weighed on output. A slower pace of inventory investment by businesses also weighed on the growth of the world’s largest economy, as did fading government stimulus. The 1.4% decline in gross domestic product in the first quarter marked a sharp turnaround from the […]

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News in Review Wednesday 27th April 2022

As expected, the latest data set from the Office for National Statistics (ONS) highlighted that consumer spending, impacted by rising costs, led to a reduction in UK retail sales throughout March. As people tightened up on nonessential spending, retail sales volumes fell by 1.4% in the month following a decline of 0.5% in February. This […]

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News in Review Wednesday 20th April 2022

Speaking in Washington DC prior to the release of the International Monetary Fund’s (IMF) biannual World Economic Outlook this week, Managing Director Kristalina Georgieva previewed her thoughts on the global economy. Opening her speech, she declared, “To put it simply: we are facing a crisis on top of a crisis… First, the pandemic: it turned […]

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News in Review Wednesday 13th April 2022

During a week when the news agenda was again dominated by harrowing scenes from Ukraine, the government unveiled its long-awaited Energy Security Strategy. The new plan places renewed emphasis on nuclear power along with an increase in wind, hydrogen and solar production, and aims to boost UK energy independence and tackle rising prices.

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News in Review Wednesday 6th April 2022

Last Thursday, major news broke as Joe Biden ordered an unprecedented release of crude oil from America’s Strategic Petroleum Reserves to tame rising energy costs. In an attempt to combat what the US President branded “Putin’s price hike,” he issued the release of one million barrels of oil per day from May, totalling 180 million […]

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News in Review Wednesday 30th March 2022

Rishi Sunak opened the Spring Statement on 23 March by speaking about his admiration for the Ukrainian people, commending the strength of the UK economy to help fund their army and impose sanctions on Putin’s regime. The Chancellor warned that actions against Russia are costly and present a risk – not just to the UK […]

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News in Review Wednesday 23rd March 2022

Last Thursday, as highly anticipated, the Bank of England (BoE) announced the third increase in Bank Rate in four months, placing more  pressure on household finances. The Monetary Policy Committee (MPC) members voted by an eight to one majority in favour of the 0.25 percentage point rise from 0.5% to 0.75%, in a bid to […]

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News in Review Wednesday 16th March 2022

With a week to go until the next fiscal event in the government’s calendar – the Spring Forecast Statement on 23 March – new research from the Institute for Fiscal Studies (IFS) has highlighted its belief that the Chancellor has some big decisions to make in the face of soaring living costs and new economic […]

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News in Review Wednesday 9th March 2022

Last week, as the invasion of Ukraine entered a second week, the President of the World Bank declared the situation “a catastrophe” for the world. Although David Malpass stressed his biggest concern is “about the pure human loss of lives” he also highlighted the economic impact of the war, which, although devastating for Ukraine, also […]

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News in Review Wednesday 2nd March 2022

‘Freedom Day’ in England was overshadowed last Thursday as Russian President Vladimir Putin ordered the invasion of Ukraine, with troops attacking the country from the north, south and east. The European Union hailed the invasion as one of the darkest hours for Europe since World War II, warning Russia will be hit with ‘massive sanctions.’ […]

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News in Review Wednesday 23rd February 2022

Storms Dudley, Eunice and Franklin swept the country over the last week or so, causing major disruption. With trains and flights cancelled, schools and venues closed, people were urged to avoid travel and to stay at home. The economic impact will no doubt be felt as people hunkered down to stay safe.

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