18th September 2023

Weekly Espresso

The infoshot to help kick-start your week

Last Week

  • The European Central Bank (ECB) raised interest rates to an all-time high with the deposit rate jumping 25 basis points to 4 per cent. On the 14th of September, the ECB hinted that the 10th consecutive rate rise may take rates close to their peak after stating in its official press release on the policy decision that interest rates have reached levels that when ‘maintained for a long duration’ will help bring inflation back towards the 2 per cent target.
  • US inflation rose above forecasts in August as a result of a recent jump in petrol prices. Consumer prices were up by 3.7 per cent year on year in August, up from 3.2 per cent in July and higher than the 3.6 per cent forecast consensus. Core inflation, which doesn’t include volatile energy prices, fell from 4.7 per cent in July to 4.3 per cent in August.
  • Data showed that the UK economy contracted more than expected in July and gross domestic product dropped 0.5 per cent between June and July. The fall in output was put down to industrial action across several different services while construction and retail were hit by poor weather in the month.

Market Pulse

Coming Up

  • EU August CPI data released, September 19th, 10:00am.
  • UK August CPI data released, September 20th, 7:00am.
  • Federal Reserve Interest rate decision announced, September 20th, 7:00pm.
  • Bank of England, Interest rate decision announced, September 21st, 12:00pm.


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

Risk Barometer


as at latest realignment 31/08/2023


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    Copia Capital Management

    Hamilton House, 1 Temple Avenue, London, EC4Y 0HA

    Understanding the risks

    This information is intended for professional financial advisers only. Copia does not provide financial advice. This information is not intended as financial advice and should not be interpreted as such. Model investment portfolios may not be suitable for everyone. The value of funds can increase and decrease, past performance and historical data cannot guarantee future success. Investors may get back less than they originally invested.

    Copia Capital Management is a trading name of Novia Financial Plc. Novia Financial Plc is a limited company registered in England & Wales. Register Number: 06467886. Registered office: Cambridge House, Henry St, Bath, Somerset BA1 1JS. Novia Financial Plc is authorised and regulated by the Financial Conduct Authority. Register Number: 481600.

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