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February 19th - On February 18th local time, Russia, the United States, and Ukraine responded to the latest round of trilateral talks in Geneva. White House Press Secretary Levitt stated that the latest round of trilateral contact between the US, Russia, and Ukraine "made meaningful progress," and all parties agreed to continue negotiations. However, Levitt also stated that the US continues to sell weapons to its NATO allies for its own defense. Ukrainian Presidential Chief of Staff and member of the Ukrainian negotiating delegation, Budanov, posted on his official social media platform on the 18th that another round of negotiations in Geneva had concluded, and while the dialogue was difficult, it was very important. He stated that the Ukrainian team is prepared to continue negotiations in the near future. Ukraine will persevere. Ukrainian sources stated that the military group made progress on coordinating procedural issues. Russian Presidential Press Secretary Peskov stated on the evening of the 18th that the Geneva negotiations that day lasted shorter than the first day, but this did not mean there was no progress; the Russian delegation participating in the Geneva negotiations would report to President Putin immediately.Reserve Bank of New Zealand Governor Brehman: If we see a shift in pricing behavior, a much stronger economic recovery, and the ability to withstand higher interest rates, we will act and tighten policy sooner rather than later.Reserve Bank of New Zealand Governor Brehman: As the economy recovers, there remains uncertainty about how businesses will adjust their pricing behavior.Reserve Bank of New Zealand Governor Brehman: I am not comfortable at all with inflation at 3.1%.Reserve Bank of New Zealand Governor Brehman: If the inflation outlook changes, the committee will adjust its policy stance to ensure that inflation returns to the target.

0.8450 is being reached by EUR/GBP as the prospect of a UK recession looms

Daniel Rogers

Aug 05, 2022 14:46

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Following a huge upward rise from 0.8360 on Thursday, the EUR/GBP pair has subsequently turned sideways around 0.8430 in the Tokyo session. After the Bank of England (BOE) hiked interest rates by 50 basis points, the cross displayed a significant upward rise (bps) (bps). The BOE lifted interest rates by 50 basis points in succession, bringing them to 1.75 percent.

 

The investing community is aware that UK household earnings have been unsteady during the preceding few months. In addition, the economy's inflation rate is fast expanding. The inflation rate was 9.4 percent prior. The recent statement by BOE Governor Andrew Bailey that price increases might exceed 13 percent has sent shockwaves across the market.

 

The runaway inflation is now escalating, leaving the BOE with very little flexibility to tighten its monetary policy. The BOE is in poor shape as a result of the dismal economic data and the continuing political upheaval following the departure of UK Prime Minister Boris Johnson. A recession in the UK economy is extremely probable in the case that the inflation rate is close to 13 percent.

 

German manufacturing order numbers for the Eurozone have decreased by 0.4 percent against an anticipated 0.8 percent decline and a prior monthly contraction of 0.2 percent. Falling orders from factories indicate sluggish demand in Germany as a whole. It is vital to remember that Germany is a key element of the European Union (EU), and that economic data from Germany has a huge effect on people who favor the common currency.


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