Your Monday morning coffee briefing from TFG.
The Bank of England (BoE) has raised its benchmark interest rate from 0.1% to 0.25%, in its first rate hike since August 2018.
The UK’s consumer prices index (CPI) rose to 5.1% last month, hitting its highest level in a decade.
Your Monday morning coffee briefing from TFG. Stagflation: Over 80% of US and UK businesses have been hit by increased costs due to inflation. The Bank of England’s (BoE) chief economist backs the case for raising interest rates, and the BoE warns that a CBDC could reduce commercial bank despotis by 20%. The U-shaped recovery – ICISA’s Richard Wulff discusses trade credit insurance and its bounce back from the pandemic. Dr. Joanna Burch-Brown explores the EU taxonomy and the ethics of green finance. And European gas shortages are expected to push up fertiliser costs and food prices.
This week, at a House of Lords Economic Affairs Committee hearing on CBDCs, Sir Jon Cunliffe, deputy governor for financial stability at the Bank of England, revealed some interesting findings on the potential impacts of Britcoin.
New surveys on both sides of the Atlantic have found that the vast majority of businesses are struggling with inflation, and many are already passing on price hikes to consumers.
Your Monday morning coffee briefing from TFG. COP26 wrap-up: UK vows to become the world’s first ‘net zero-aligned financial centre’. TFG launches a new Sustainable Trade Finance Hub. A new ICC report proposes the first global framework for sustainable trade and trade finance definitions. Standard Chartered launches a new Sustainable Account solution in the UK and UAE. And UK Export Finance secures 20% budget hike, expanding support for British exporters.
Over the last two weeks, the UK has been at the forefront of some of the biggest announcements to come out of COP26.
The cessation of the London Interbank Offered Rate, or LIBOR, will be one of the most important events affecting trade finance this year.
Your Monday morning coffee briefing from TFG: COP26 gets underway, with a Denmark-led agreement on low-carbon shipping, and a UK emissions disclosure agreement in the making.
Bank of England (BoE) Governor Andrew Bailey has hinted that UK companies may soon be made to disclose carbon emissions data as part of the country’s push to reach net zero by 2050.
The Bank of England has surprised investors today by voting against a rise in its benchmark interest rate, which would have been its first since August 2018.
A new report by Euler Hermes has found that the UK economy is “trapped by policy choices” going into the end of 2021 and beginning of 2022.
TFG’s Joana Fabiao sat down with Victoria Cleland, the Executive Director for Banking, Payments and Innovation at the Bank of England for City Week 2021,
Your Monday morning coffee briefing from TFG. A container ship ran aground, blocking the Suez Canal which carries about 12% of global maritime trade. The blockage may take some time to clear, further disrupting global shipping, already beset by high freight costs and delays caused by the pandemic.