A leading firm of accountants has predicted that the UK economy will contract by 1.3% in 2023. Given the current situation, this appears to be a relatively conservative estimate. 2022 has been characterized by the return of three issues that haven't been seen in a generation, although there is no feeling of nostalgia.

Inflation, political turmoil and strikes have been at the centre, while a downturn of economy and rising interest rates have been the predictable outcome.

After more than a decade when the Bank of England’s independence was barely tested, this year there have been nine interest rate hikes as the performance of the Central Bank has been under scrutiny.

Brexit has not provided businesses with the level of freedom that was expected. The Bank of England has expressed concern about the intended deregulation of the City of London, in particular the ring fencing of bank's commercial and investment banking operations.

The restrictions were put in place to ensure that riskier investment banking operations were funded by capital and not customer funds. Now, in order to promote the City as a centre for innovation in a post-Brexit environment, the Government is seriously considering removal of the regulation, allowing the blurring of the edges of what is investment and what are commercial operations.

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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.