#ForexChief #BOEmeeting #forexnews #RiskZone #Croydon #Watford #stock #worldnews ⠀
🇬🇧 London is trending again: a new chance to save the pound
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🔥 Today, the UK elects municipal officials and the «Partygate» scandal is once again relevant. Results will have nationwide implications as this is the first major voter test of Johnson's policies since the COVID lockdown, the outbreak of war in Ukraine and the soaring cost of living.
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Elections will be held for local governments throughout England, and in all areas of London, at the same time as elections for mayors of the joint authorities in some areas in the north, and elections for local authorities in Croydon, Watford and other areas of the south. We also need to decide on representatives in the Assembly of Northern Ireland and the municipal councils of Wales and Scotland.
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Analysts see the election as a «barometer» of Johnson's popularity, and if his party fails, it could easily revive the idea of the prime minister's resignation. With just two days to go before the UK’s local elections, a survey has predicted that the Conservatives will lose almost 550 council seats. This is a serious threat to British political stability.
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British economy remains in a serious «risk zone» due to the conflict in Ukraine, but the associated political factors, both the euro and the pound, have already won back. A correction is needed − today's BOE meeting may become such a factor. However, the three previous interest rate hikes failed to turn the pound up, and even if the rate is adjusted again today, the downtrend may remain relevant. So we are closely following the elections and the comments on financial figures.
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Profits to y’all!