Market Update 02/02/2023
GBP Official Bank Rate – Interest rate
The BoE increased the Interest rate today by 0.5%, bringing it to 4%, the highest level since the 2008 financial crisis. The rate hike comes because of the high inflation level of 10.5%, a 41 year high as UK households are struggling to cope with the current cost of living.
ECB Main Refinancing Rate-Interest rate
After one hour and 15 since the rate hike from the BoE, The European Central Bank increased the interest rate by .5% to bring it to 3% from 2.5%. It is also expected to raise it even further at their next policy meeting happening in March!
Quarter earnings releases
Apple EPS /1.94 Revenue /2.30B am
Alphabet(google) EPS /1.18 Revenue /76.07B am
Amazon EPS /0.1729 Revenue /145.64B am
Starbucks EPS /0.7689 Revenue /8.78B am
Sony EPS /1.6 Revenue /9.25B