Business
"As the recovery from the Coronavirus outbreak has begun, Bank of England Governor, Andrew Bailey, has been confident that the rise in inflation that has gripped most developed economies is simply a reaction to the level of support being provided. This theory is about to be severely tested as the wholesale price of gas continues to rise. This is fed through into UK households in the shape of higher fuel costs and is also having a knock-on effect on other energy sectors, in particular, the price of oil. Petrol prices are already significantly higher. The pump price of standard unleaded petrol is now above £1.40 per litre. Bailey is beginning to feel the pinch and is concerned that the Central Bank will have to act to curtail what could fast become a major crisis for the recovery. Raising short-term interest rates to curtail rising inflation would be a fairly drastic measure, but the MPC may be left with no choice. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.