Following the resignation of nearly 60 members of his government, Boris Johnson steps down as the prime minister of the UK.
7 July 2022
Boris Johnson resigns
Source: CNN
· 8 July 2022
Former PM of Japan killed
· Twitter shares drop more than 7% in after-hours trading after Musk backs out of an agreement to buy the company.
8 July 2022
Musk drops Twitter bid
· The euro crosses a major threshold for the first time in more than two decades, reaching parity with the dollar.
13 July 2022
Euro reaches dollar parity
· The repo rate is raised by 75 basis points, the steepest hike since September 2002. Prime is increased to 9%.
22 July 2022
SA repo at 5.5%
· The Fed raises interest rates by 75 basis points for the second straight month.
27 July 2022
Fed hikes rates again
· PMI for the euro area’s four largest members all indicate contraction. SA PMI falls to 47.6 points.
1 Aug 2022
Factory output weakens
· UK inflation accelerates to the highest in 40 years. The Consumer Prices Index rose 10.1% from a year earlier.
17 Aug 2022
UK inflation tops 10%
· Tencent Holdings logs its first-ever revenue decline after its workforce shrank almost 5%, a prime example of how China’s worsening economy is hurting its corporations.
17 Aug 2022
Trouble at Tencent
· SA’s unemployment rate falls to 33.9%, led mainly by job gains in the community and social services, trade, finance and construction sectors.
23 Aug 2022
SA joblessness at 34%
· At Jackson Hole, Fed chair Jerome Powell warns of restrictive monetary policy ‘for some time’, disappointing markets. The Nasdaq 100 tumbles 4.1% on the day.
26 Aug 2022
Powell scares markets
· Euro zone inflation hits a record high in August of 9.1%, with high energy prices the main driver.
31 Aug 2022
EU inflation hits 9.1%
· GDP contracts 0.7% in the three months through June, compared with downwardly revised growth of 1.7% in the previous quarter.
6 Sept 2022
SA GDP shrinks 0.7%
· SA’s current account balance dips to a deficit of 1.3% of GDP in the second quarter from a surplus of 2.4% in the first quarter.
8 Sept 2022
SA current account in red
· The ECB raises interest rates by a record margin – from 0.5% to 1.25% – to combat double-digit inflation in a number of member countries.
8 Sept 2022
EU rates spike
· 13 Sept 2022
US inflation at 8.3%
· German producer prices for industrial products rises 45.8% compared with August 2021, the highest increase ever. Energy prices were up 139%.
20 Sept 2022
German PPI at 45.8%
· President Putin orders Russia’s first wartime mobilisation since World War II. Putin also announces plans to annex four Ukrainian provinces.
21 Sept 2022
Russia to annex territory
· Germany nationalises Uniper SE after Russia shelled the Zaporizhzhia nuclear power plant, to avert a collapse of their energy sector.
21 Sept 2022
Germany nationalises Uniper
· The Fed raises its target interest rate to 3-3.25% and signals more large increases to come in new projections showing its policy rate to peak at 4.6% in 2023.
21 Sept 2022
Fed again hikes by 0.75%
· South Africa’s headline consumer inflation decelerates slightly to 7.6% year on year.
21 Sept 2022
SA CPI drops to 7.6%
· The MPC increases the repo rate by 75 basis points to 6.25%. Prime now stands at 9.75%.
22 Sept 2022
SA rates up by 0.75%
· 26 Sept 2022
Pound at all-time low
· 28 Sept 2022
UK bond market crumbles
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