RE: Morning all,Spights,Jakers and Owls15 Dec 2022 05:28
Big problem is inflation is still over 10 percent and has only drop 0.4 percent and this was only due to lower oil prices. It would be nice for oil to go $120 again for a quick profit but that would only mean inflation will most certainly rise. This could cause the BOE to raise interest rates .75 percent at the next meeting, this would cause a wider issue in the economy. So lets hope for a lower oil price and steady growth as opposed to a sharp rise and then sharp drop. As investors haven't grasped the fact that inflation is over 10 percent and only looking at the 0.4 percent drop I can actually see BP back at the 375 mark as a panicked sell off affects the wider markets.