Money

Transatlantic pain as the pound falls to 50-year low

Published

2 years ago

September 26, 2022

ticker NEWS

The pound has fallen to its lowest level against the U.S. dollar since decimalisation in 1971

The British pound has fallen more than 4 per cent before regaining some ground to $1.05.

It follows UK Chancellor Kwasi Kwarteng delivering his mini-budget, where he stood firm that the UK can’t borrow forever.

“Our plan is to expand the supply side of the economy through tax incentives and reform,” he said.

Historic tax cuts funded by huge increases in borrowing were at the centre of the budget. It’s understood the permanent tax cuts are nearly 2 per cent of overall gross domestic product.

“We’ve got to grow the economy. We’ve got to have a much more front-footed approach to growth” Kwarteng said.

If the pound stays at this low level against the dollar,

The record drop could mean some imports of commodities, which are priced in dollars could be felt across the UK, including purchases of oil and gas.

Leaders

U.S. Federal Reserve announce rate cut, show great confidence in economy

Published

8 hours ago

September 19, 2024

ticker NEWS

The Federal Reserve has delivered a big rate cut to boost the economy while inflation slows.

The central bank slashed interest rates by a half percentage point, hoping to protect the job market while inflation inches closer to its 2% goal.

Fed Chair Jerome Powell says the decision reflects growing confidence in balancing the economy’s growth with low inflation. #featured #trending

Money

Markets brace for potential 50-point fed rate cut

Published

2 days ago

September 17, 2024

ticker NEWS

Markets are anticipating a significant 50-point rate cut from the US Federal Reserve this week, leading to heightened focus on bond markets and key economic reports.

Financial markets are focused on a potential 50-point rate cut by the US Federal Reserve, as investors anticipate major shifts in economic policy.

The bond markets, already pricing in a borderline hard landing, reflect the expectation of a significant easing cycle over the next two years.

However, experts caution that the Fed could disappoint, as the current economic conditions differ from previous events such as the pandemic or credit crises. #featured #trending

Money

Bitcoin’s Q4 outlook: key factors and upcoming milestones

Published

3 days ago

September 16, 2024

ticker NEWS

Insights into market trends and critical events shaping Bitcoin’s performance

Crypto Corner explores the latest market movements, expert insights and the influence of macroeconomic factors on the crypto industry.

Crypto Corner is hosted by Caroline Bowler, CEO of BTC Markets.

In this episode, Caroline speaks with Matt Willemsen, Head of Research & Content at Collective Shift, about what could drive Bitcoin’s strong performance in Q4. They explore how the current market differs from past cycles, the ongoing Solana vs. Ethereum debate, and the role of project-specific conferences in market trends. Matt previews key Q4 events, including the Solana Breakpoint conference and upcoming altcoin milestones like Uniswap v4 and Polygon 2.0. #crypto corner