Live: BOE predicts a recession

by Ashley DeSousa | Aug 11, 2022 | Forex Articles

Plan your day

Hi Everyone,

In today’s post, Thinus went through the M2 setups, the Dollar Index, SP500, and crypto. Around 20 minutes into the video I went through the Earth and Sky setups for the week which Pierre shared in his post yesterday.

UK heading for a recession

I shared with you a post where BOE announced that UK is likely to head for a recession later in the year. It is the first time they have raised rates by the most in 27 years.
They are predicting the economy to shrink in the last 3 months of the year.

They also mentioned they are expecting the recession to last for at least 5 quarters. So just over a year.

Growth is expected to slump, the Unemployment rate to rise, inflation to peak at 13.3%, Annual bills for energy to rise to £3500 and borrowing costs to increase.

This of course will affect a lot of people, especially homeowners, as they are likely to struggle to pay off their loans or mortgages.

People will have to be extra cautious with their spending and hence why the growth is expected to slump.

BOE warns of a recession

Ramsden speech

I also showed you that there was an un announced speech which I didnt seem to see in the calendar.

BOE member Ramsden came out saying BOE might be in a situation of cutting rates and selling assets at the same time. Which is very Dovish for the GBP.

As Marc mentioned to us months ago, he wasn’t expecting the banks to keep raising interest rates as this could harm the economy. He was again “spookily accurate”.
https://www.forexfactory.com/news/1172093-ramsden-boe-might-be-in-situation-of-cutting

What is shocking is the things happening in the US, they have so far changed the meaning of a recession, while the UK seems like have stuck to the original meaning.

They have also signed another bill around $430 billion to curb climate change, boost clean energy and also help bring down the prices of medical care. Not sure how this will help to bring down inflation but these things are happening as we speak.

Inflation reduction bill

We are NOT a “tipping service” our aim is to teach you how to trade for yourself.

You can view the full recording of the live session below:

Kind regards,

Ashley and Thinus

None of the Forex Mentor Pro team nor its owners (expressly including but not limited to Marc Walton), officers, directors, employees, subsidiaries, affiliates, licensors, service providers, content providers and agents (all collectively hereinafter referred to as “Forex Mentor Pro ”) are financial advisers and nothing contained herein is intended to be or to be construed as financial advice

Forex Mentor Pro is not an investment advisory service, is not an investment adviser, and does not provide personalized financial advice or act as a financial advisor.

Forex Mentor Pro exists for educational purposes only, and the materials and information contained herein are for general informational purposes only. None of the information provided in the website is intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement, recommendation or sponsorship of any company, security, or fund. The information on the website should not be relied upon for purposes of transacting securities or other investments.

You hereby understand and agree that Forex Mentor Pro, does not offer or provide tax, legal or investment advice and that you are responsible for consulting tax, legal, or financial professionals before acting on any information provided herein. “This report is not intended as a promotion of any particular products or investments and neither Forex Mentor Pro group nor any of its officers, directors, employees or representatives, in any way recommends or endorses any company, product, investment or opportunity which may be discussed herein.

The education and information presented herein is intended for a general audience and does not purport to be, nor should it be construed as, specific advice tailored to any individual. You are encouraged to discuss any opportunities with your attorney, accountant, financial professional or other advisor.

Your use of the information contained herein is at your own risk. The content is provided ‘as is’ and without warranties of any kind, either expressed or implied. Forex Mentor Pro disclaims all warranties, including, but not limited to, any implied warranties of merchantability, fitness for a particular purpose, title, or non-infringement. Forex Mentor Pro does not promise or guarantee any income or particular result from your use of the information contained herein. Forex Mentor Pro.com assumes no liability or responsibility for errors or omissions in the information contained herein.

Under no circumstances will Forex Mentor Pro be liable for any loss or damage caused by your reliance on the information contained herein. It is your responsibility to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content contained herein. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.

Marc Walton, owner of Forex Mentor Pro, communicates content and editorials on this site. Statements regarding his, or other contributors’ “commitment” to share their personal investing strategies should not be construed or interpreted to require the disclosure of investments and strategies that are personal in nature, part of their estate or tax planning or immaterial to the scope and nature of the Forex Mentor Pro philosophy.

All reasonable care has been taken that information published on Forex Mentor Pro website is correct at the time of publishing. However, Forex Mentor Pro does not guarantee the accuracy of the information published on its website nor can it be held responsible for any errors or omissions.