"It is becoming a familiar struggle as Central Banks grapple with inflation while being mindful of the effect that the conflict in Ukraine will have on growth.

The Bank of England’s monetary policy committee meets next week and will face an extremely tough decision that goes well beyond individual members’ view of the economy.

Since the invasion of Ukraine began, there have been very few interviews or even sound bites provided by MPC members, so it is difficult to gauge their mood.

It is unlikely that the unanimous decision to hike rates that was seen at the last meeting will be repeated, particularly since the committee will be aware of the headwinds that will be created next month when the fuel cap is increased, and national insurance contributions are increased.

Mortgage interest rates are now rising, and the deals that banks were able to offer have become ever shorter in tenure. This reflects the view that rates will continue to rise.

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Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.