PREVIOUS TRADING DAY EVENTS 27 March 2023

Announcements 

BoE Gov. Bailey said interest rates will probably remain below the highs seen before the financial crisis. The U.K. central bank may stop the rate hikes. The decisions on rates wont be affected by the crisis hitting the global banking system. Moreover, the monetary policy function and financial stability function will operate separately. Bailey pointed out that the K. banking system is resilient enough to withstand further shocks and that authorities are ready to counter problematic institutions. The Monetary Policy Committee will do its part to bring inflation down to the 2 target.
Source httpswww.bloomberg.comnewsarticles20230327
Sound and Resilient Banks A top Federal Reserve official defended regulators actions amid the bank turmoil. Fed Vice Chair for Supervision, Michael Barr stated We will continue to closely monitor conditions in the banking system and are prepared to use all of our tools for any size institution, as needed, to keep the system safe and sound.
Source httpswww.bloomberg.comnewsarticles20230327
The U.S. Federal Reserve has raised rates by 4.75 percentage points in a bid to tackle rising inflation. According to a majority of Economists, the U.S. will likely enter a recession this year and face high inflation well into 2024. They are also forecasting inflation remaining above 4 at the end of this year.
Source httpsfiles.constantcontact.com668faa280010831ba1c0892413e9206e7dc139dc4ca.pdf…