British pound crashes to all-time low as a warning for Australia

The British pound has plunged to its all-time low on a catastrophic day for the British currency, a major warning sign for Australia. As the following chart shows, the pound has taken a massive blow in recent months and completely capitulated on Monday, Australian time. It crashed to even lower levels than the dark days … Read more

The ‘real cure’ for inflation has been ignored, says Steve Forbes

The British pound plunged to a record low in Asia on Monday morning, following last week’s announcement by the new British government that it would implement tax cuts and investment incentives to boost growth. By focusing on raising interest rates to cool inflation, central banks and governments have overlooked the importance of maintaining stable currencies, … Read more

Britain’s jump to Reaganomics gets thumbs down from the markets

Truss has now set the country on an economic path that is completely at odds with most, if not all, of the major global economies. Hannah Mckay | Reuters LONDON — New British Prime Minister Liz Truss may have talked a lot about ‘trickle-down economics’ during her campaign this summer, but no one could have … Read more

From the Fed to the currency crisis in Europe, here’s what’s behind this sell-off in the financial markets:

Trader on the floor of the NYSE, June 7, 2022. Source: NYSE Stocks fell sharply, bond yields rose and the dollar strengthened Friday as investors heeded the Federal Reserve’s signal that the battle with inflation could lead to much higher interest rates and a recession. The sell-off was global on Friday, in a week in … Read more

Turkey cuts interest rates again as country struggles with inflation

The number of Russian tourists to Europe dropped dramatically during the summer, but rose in several other destinations, including Turkey (here). Onur Dogman | Sopa images | Light rocket | Getty Images Turkey’s central bank surprised markets again with its decision Thursday to cut its key interest rate, despite inflation in the country soaring above … Read more

Bank of England raises interest rates by 50 basis points, in seventh consecutive hike

The Bank of England warned that the UK will slip into recession later this year. The expected recession is expected to be the longest since the global financial crisis. Vuk Valcic | SOPA images | Light Rocket | Getty Images The Bank of England voted to raise its key rate from 1.75% to 2.25% on … Read more

Investors brace for potential rate cut amid 80% inflation in Turkey

An electronic board displays exchange rate information at a currency exchange office in Istanbul, Turkey on Monday, August 29, 2022. Nicole Tung | Bloomberg | Getty Images The Turkish lira hit a new all-time low on Thursday, trading at 11:30 am at 18,377 against the dollar in Istanbul, continuing its downward decline of more than … Read more

What to expect at the next Bank of Japan (BOJ) meeting as the yen falls?

The Japanese yen is hovering close to its weakest level since 1998, and authorities have suggested taking action to stem the currency’s decline. Ahead of the Bank of Japan’s rate decision later this week, CNBC is looking at whether Japan’s central bank could move away from its ultra-easy monetary policy as the Federal Reserve maintains … Read more

Bitcoin prices are falling after inflation data. Where they will probably stop.

Font size Crypto prices are likely to keep pace with stocks following the release of inflation data. Dream time Bitcoin prices fell Tuesday after data showed US inflation rose more than expected in August, giving traders their latest hint that the Federal Reserve will continue to tighten financial conditions in a way that could hurt … Read more

British pound falls to lowest level against the dollar since 1985

Inflation in the UK is at its fastest pace since the early 1980s. Bloomberg | Bloomberg | Getty Images The British pound plunged to its lowest level against the US dollar since 1985. Sterling fell to $1.1407 in London afternoon trading — a level not seen in 37 years — as investors responded to the … Read more