DEMSA update: Personal insolvency / Economic Abuse Toolkit / Consumer Duty / Training / Events

Starting on a positive note, Bank of England Governor Andrew Bailey has stated that inflation is likely to fall rapidly during 2023 as energy prices fall. The pace of price rises in the UK has been slowing slightly, standing at 10.5% in the year to December 2022. Food prices, however, remain high. Markets predict interest rates will peak at 4.5% and the Bank is not steering them away from that figure. Financial markets now expect the Bank to raise its main interest rate to 4% from 3.5% on 2 February 2023. For consumers, these messages seldom provide clarity and it still feels like costs are going up on all fronts apart from fuel. We need to keep a close eye on what is going on with the US economy. The US has hit its debt limit, with their Treasury Department now taking measures to prevent a potentially devastating default.

Chris Warburton has just posted a comparison on UK attitudes to risk versus the US - https://www.ro-ar.com/risk-on-game-on/ - definite Saturday afternoon reading...

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