The infoshot to help kick-start your week
- UK annual inflation fell unexpectedly to 6.7% in August as prices rose less than expected year-on-year. The figures came as a surprise to economists who had priced in inflation rising from 6.8% July to 7% in August. Core inflation, which excludes volatile prices such as food and energy, reduced to 6.2% in August down from 6.8% the previous month despite economists expecting no change.
- The Bank of England held interest rates at 5.25% after a tight 5-4 vote from the Monetary Policy Committee. The decision came after the lower-than-expected inflation data came out earlier in the week. It was the first pause in interest rates after 14 consecutive rate rises.
- The US Federal Reserve (Fed) also decided this week to keep interest rates at the current range of 5.25 – 5.5%. It is the second time this year that the Fed has kept rates the same. However, Fed chair Jay Powell, made it clear last Wednesday that rates would stay higher for longer in an effort to bring down stubborn inflation.
- US initial jobless claims data released, September 28th, 1:30pm.
- US Q2 GDP data released, September 28th, 1:30pm.
- UK Q2 GDP data released, September 29th, 7:00am.
- EU September CPI data released, September 29th, 10:00am.
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