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Following the resignation of nearly 60 members of his government, Boris Johnson steps down as the prime minister of the UK.<\/p>\n
7 July 2022<\/p>\n
Boris Johnson resigns<\/p>\n
Source: CNN<\/p>\n
\u00b7 8 July 2022<\/p>\n
Former PM of Japan killed<\/p>\n
\u00b7 Twitter shares drop more than 7% in after-hours trading after Musk backs out of an agreement to buy the company.<\/p>\n
8 July 2022<\/p>\n
Musk drops Twitter bid<\/p>\n
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\u00b7 The euro crosses a major threshold for the first time in more than two decades, reaching parity with the dollar.<\/p>\n
13 July 2022<\/p>\n
Euro reaches dollar parity<\/p>\n
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\u00b7 The repo rate is raised by 75 basis points, the steepest hike since September 2002. Prime is increased to 9%.<\/p>\n
22 July 2022<\/p>\n
SA repo at 5.5%<\/p>\n
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\u00b7 The Fed raises interest rates by 75 basis points for the second straight month.<\/p>\n
27 July 2022<\/p>\n
Fed hikes rates again<\/p>\n
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\u00b7 PMI for the euro area\u2019s four largest members all indicate contraction. SA PMI falls to 47.6 points.<\/p>\n
1 Aug 2022<\/p>\n
Factory output weakens<\/p>\n
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\u00b7 UK inflation accelerates to the highest in 40 years. The Consumer Prices Index rose 10.1% from a year earlier.<\/p>\n
17 Aug 2022<\/p>\n
UK inflation tops 10%<\/p>\n
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\u00b7 Tencent Holdings logs its first-ever revenue decline after its workforce shrank almost 5%, a prime example of how China\u2019s worsening economy is hurting its corporations.<\/p>\n
17 Aug 2022<\/p>\n
Trouble at Tencent<\/p>\n
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\u00b7 SA\u2019s unemployment rate falls to 33.9%, led mainly by job gains in the community and social services, trade, finance and construction sectors.<\/p>\n
23 Aug 2022<\/p>\n
SA joblessness at 34%<\/p>\n
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\u00b7 At Jackson Hole, Fed chair Jerome Powell warns of restrictive monetary policy \u2018for some time\u2019, disappointing markets. The Nasdaq 100 tumbles 4.1% on the day.<\/p>\n
26 Aug 2022<\/p>\n
Powell scares markets<\/p>\n
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\u00b7 Euro zone inflation hits a record high in August of 9.1%, with high energy prices the main driver.<\/p>\n
31 Aug 2022<\/p>\n
EU inflation hits 9.1%<\/p>\n
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\u00b7 GDP contracts 0.7% in the three months through June, compared with downwardly revised growth of 1.7% in the previous quarter.<\/p>\n
6 Sept 2022<\/p>\n
SA GDP shrinks 0.7%<\/p>\n
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\u00b7 SA\u2019s 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.<\/p>\n
8 Sept 2022<\/p>\n
SA current account in red<\/p>\n
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\u00b7 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.<\/p>\n
8 Sept 2022<\/p>\n
EU rates spike<\/p>\n
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\u00b7 13 Sept 2022<\/p>\n
US inflation at 8.3%<\/p>\n
\u00b7 German producer prices for industrial products rises 45.8% compared with August 2021, the highest increase ever. Energy prices were up 139%.<\/p>\n
20 Sept 2022<\/p>\n
German PPI at 45.8%<\/p>\n
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\u00b7 President Putin orders Russia\u2019s first wartime mobilisation since World War II. Putin also announces plans to annex four Ukrainian provinces.<\/p>\n
21 Sept 2022<\/p>\n
Russia to annex territory<\/p>\n
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\u00b7 Germany nationalises Uniper SE after Russia shelled the Zaporizhzhia nuclear power plant, to avert a collapse of their energy sector.<\/p>\n
21 Sept 2022<\/p>\n
Germany nationalises Uniper<\/p>\n
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\u00b7 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.<\/p>\n
21 Sept 2022<\/p>\n
Fed again hikes by 0.75%<\/p>\n
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\u00b7 South Africa\u2019s headline consumer inflation decelerates slightly to 7.6% year on year.<\/p>\n
21 Sept 2022<\/p>\n
SA CPI drops to 7.6%<\/p>\n
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\u00b7 The MPC increases the repo rate by 75 basis points to 6.25%. Prime now stands at 9.75%.<\/p>\n
22 Sept 2022<\/p>\n
SA rates up by 0.75%<\/p>\n
<\/p>\n
\u00b7 26 Sept 2022<\/p>\n
Pound at all-time low<\/p>\n
\u00b7 28 Sept 2022<\/p>\n
UK bond market crumbles<\/p>\n