2022 Coin and Bullion News

The year 2022 marked a 41 Year high inflation in the UK as The Monetary Policy Committee (MPC) raised interest rates to help against the pressing inflation that the UK is currently facing.

A year ago, the Bank of England Interest Rate was 0.1%. Today it is 3.5%, the highest rate in 30 years. After the resignation of Liz Truss, and the failure of the 2022 mini budget (announced on the 23rd of September 2022 by the then chancellor Kwasi Kwarteng), we saw a new Prime Minster and Chancellor.

Rishi Sunak became the Prime Minister of the UK on the 25th of October and selected Jeremy Hunt as the new chancellor of the Conservative Party. Hunt announced the Autumn 2022 budget on the 17th of November 2022, in an attempt to combat the sharp increase in interest rates following the mini budget.