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Market Commentary
High energy costs continue to push up headline inflationWith John Healey’s first Budget taking place on 28 October, the Chancellor has a tricky challenge ahead of him. Data released last week showed both government borrowing and UK inflation reached their highest levels in a year. The annual rate of UK inflation rose to 3.5% in September, up from 3.1% in August, driven in […]
Market Commentary
It’s a sign of resilience in the UK economyAccording to the Office for National Statistics (ONS), monthly gross domestic product (GDP) grew by 0.1% in August, following growth of 0.4% in July and June. The marginal expansion exceeded expectations as economists had predicted a 0.1% contraction in a poll by Bloomberg. Performance was mixed across the sectors; August’s growth was driven by a […]
Market Commentary
AI is here, rapidly becoming a key driver of countries’ relative fortunes in the world economySpeaking last week, ahead of the IMF-World Bank Annual Meetings in Thailand, Kristalina Georgieva, IMF Managing Director, said, “The global economy is being pulled in two opposite directions: a negative energy supply shock and a positive demand shock from AI. The combined impact of these two forces is highly uneven across the world.” Finance ministers […]