{"id":22056,"date":"2022-07-12T09:20:18","date_gmt":"2022-07-12T09:20:18","guid":{"rendered":"https:\/\/smh.group\/?p=22056"},"modified":"2022-07-12T09:20:18","modified_gmt":"2022-07-12T09:20:18","slug":"flaming-june-sees-interest-rates-flare","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/flaming-june-sees-interest-rates-flare\/","title":{"rendered":"Flaming June sees interest rates flare"},"content":{"rendered":"<p><strong>June was a month for rising interest rates on both sides of the Atlantic.<\/strong><\/p>\n<p>June was a notable month for interest rates:<\/p>\n<ul>\n<li>Firstly, the US central bank, the Federal Reserve (the Fed) increased its main interest rate by 0.75% to 1.50%\u20131.75%. It was the third consecutive meeting at which the Fed had raised rates and the bank made clear it would not be the last. The Fed\u2019s rate setters published a set of projections that showed expectations for a 3.4% rate by the end of year.<\/li>\n<\/ul>\n<ul>\n<li>A day later it was the turn of the UK central bank, the Bank of England, to increase its rate for the fifth consecutive meeting. The Bank was less aggressive than the Fed, taking its rate up by 0.25% to 1.25%. It was also more circumspect about future increases but suggested that further inflation was likely, potentially entailing further \u2018actions\u2019 from them.<\/li>\n<\/ul>\n<p>The actions of both central banks were driven by the same factor \u2013 surging inflation. In May, US CPI inflation was 8.6%, while in the UK it was 9.1%, both four-decade highs. The Bank expects UK inflation to be \u2018slightly over 11%\u2019 by October, when the next adjustment to the utility price cap takes effect. Perhaps wisely, the Fed does not project CPI inflation.<\/p>\n<p>Neither bank surprised the markets with their rate increase. Central bankers do their best to avoid spooking markets and are masters of telegraphing intentions. The forewarning did not mean investors were happy when confirmation arrived. The worry on both sides of the pond is that the upward march of interest rates will lead to a recession. This is neatly summarised in a view from one billionaire investor that rates will go on rising \u201cuntil something breaks\u201d.<\/p>\n<p>For investors, these are uncomfortable times. Values are generally falling, albeit not in a straight line. Some sectors \u2013 such as energy \u2013 have been doing fine, while others \u2013 loss-making tech companies, for example \u2013 have dropped faster than the overall market. If you think you can catch any of the movements, just cast your mind back to March 2020, very early on in the pandemic. Both the US and UK stock markets hit their lows at that point: in March 2020 there were no vaccines available and COVID-19\u2019s worst impact had yet to arrive. It is only easy to spot a perfect time to invest in retrospect\u2026<\/p>\n<p><span data-preserver-spaces=\"true\">Whatever your situation, the team at\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/devstagesite.co.uk\/smhgroup\/financial-services\/\" target=\"_blank\" rel=\"noopener\"><strong><span data-preserver-spaces=\"true\">SMH Financial Services in Sheffield<\/span><\/strong><\/a><span data-preserver-spaces=\"true\"> can help guide you through the new financial year. Drop us a line on <\/span><strong><span data-preserver-spaces=\"true\">0114 266 4432<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0or\u00a0<\/span><a class=\"editor-rtfLink\" href=\"mailto:info@smhca.co.uk\" target=\"_blank\" rel=\"noopener\"><strong><span data-preserver-spaces=\"true\"><span style=\"text-decoration: underline;\">info@smhca.co.uk<\/span><\/span><\/strong><\/a><span data-preserver-spaces=\"true\">\u00a0if you need any assistance.<\/span><\/p>\n<h6><strong><em>The value of your investment and any income from it can go down as well as up and you may not get back the full amount you invested. <\/em><\/strong><\/h6>\n<h6><strong><em>Past performance is not a reliable indicator of future performance.\u00a0 <\/em><\/strong><\/h6>\n<h6><strong><em>Investing in shares should be regarded as a long-term investment and should fit in with your overall attitude to risk and financial circumstances.<\/em><\/strong><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>June was a month for rising interest rates on both sides of the Atlantic.<\/p>\n","protected":false},"author":4,"featured_media":22057,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[16],"tags":[796,98,58,237,239],"class_list":["post-22056","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-services","tag-cpi","tag-financial-advice","tag-financial-services","tag-inflation","tag-interest-rates"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Flaming June sees interest rates flare - Financial advice in SheffieldSMH Group<\/title>\n<meta name=\"description\" content=\"June was a month for rising interest rates on both sides of the Atlantic. 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