Economy

HSBC forecasts two hikes in interest rates within the next 12 months

According to analysts at HSBC, with the Bank of England deciding to join the other G10 central bankers in the decision to ease off accommodative monetary policy, it is likely that it will act as a wind beneath the sterling’s wings and lift it by at least 15 cents by the end of this year. Surprisingly the Sterling has largely ignored the political intrigue of Brexit, through much of 2017.

Unpopular restrictions on payments in cash further weakens the EU Commission

On January 23rd of this year, the EU Commission issued the ‘Commission Initiative Roadmap’ for 2018 regarding the reinforced fight against the financing of terrorism. These measures happen to be in fact restriction on payments made in cash. In other words, the Initiative is not so much about fighting terrorism but more a war declaration to cash money. The EU wants to become cashless but Europeans disagree and the Initiative has made Europe loose more of the little credibility it had left.