18 July 2022 - Economy shows growth despite raging inflation

Surging inflation and rising interest rates didn’t manage to completely douse economic growth as the economy grew by 0.5% in May, compared to a 0.3% contraction a month earlier. This unexpected improvement may be explained as an anomaly, but the reason for it has so far not been explained. With the Government closing, for all intents and purposes, a month early to allow the race for the Leadership of the Conservative Party to take place, Westminster is doing nothing than cheering on its Candidate on one side or promising that no matter who is elected, they will be slaughtered at the next General Election by the Labour Party. Several candidates have been pressured over how they intend to fund the rather extravagant tax cuts they are proposing. The only one without that pressure is current favourite, Rishi Sunak. The former chancellor has no need to fund proposed tax cuts as he is not promising any…. yet. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.