Weekly Market Commentary - 23 June 2023

This week we saw the Bank of England make a big effort to try and get on top of inflation. The bank has been repeatedly caught out by inflation that has risen far higher and lasted far longer than predicted. It appears that the bank has finally realised that the UK’s inflation problem is much more severe than in other advanced economies. This week’s 0.5% hike was larger than expected but the market reaction was fairly calm.

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