On this week’s episode Mike and Rory brace for impact as UK Core Inflation unexpectedly rises to 6.8% from an expected 6.2%. They both mention how the BOE, and the UK government are not in the right state of mind to be dealing with the higher levels of inflation that has been felt around the world, but most other countries have been able to cope with it just fine.
On the podcast, Rory mentions that the UK and BOE were not the only ones to signal dovish comments, RBNZ governor Adrian Orr and the committee said in a statement that they believe the job was done even though inflation levels are still at 6.7%.
On the episode, Mike also gives us his takings on the comments that were made by OPEC ministers regarding the caution behind speculative traders and what he thinks this means for energy markets.
To finish the podcast the blokes, talk over the economic calendar for next week discussing the US Non-Farm Payrolls and Employment report to be released on Friday 3rd June. For a more in-depth analysis of Mikes thoughts on OPEC and all other stories the blokes have covered, head over the app and join for free today.