May’s financial headlines were dominated by the negotiations going on between US President Biden and the Republican House Speaker Kevin McCarthy around increasing the US government debt ceiling to $31.4 trillion.
However, pretty much as expected, the parties came to an agreement ahead of the deadline and the bill passed through both chambers of Congress, which avoided a default and provided some reassurance to markets. It runs until 2025 and caps some government spending.
Elsewhere, the focus continued to be on inflation and central banks’ action in relation to it.
Festive Hours for 2024
Closed Tues 24th December at 2:30pm
Re open on Mon 30th December at 9am
Closed Tues 31st December at 3pm
Re open on Fri 3rd January at 9am
Please note that the answer machine will be checked regularly throughout this period, and enquiries will be dealt with promptly.