February 3, 2022

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Central Banks

Please click here for a chart of  S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The chart shows that the market had moved above the breakout line from October 2021.  The main events for today were rate decisions by Bank of England (BOE) and the European Central Bank (ECB).
• BOE is hawkish.
  • BOE has raised interest rates again – the first back-to-back rate increases since 2004.
  • BOE raised its rates from 0.25% to 0.5%.