Worldwide Financial Planning

The Fed further slowed the pace of its rate increases and raised by 0.25%, while the BoE and ECB increased by 0.5%. The ECB stood out for its clear commitment to future rate hikes (although it is slightly later on the curve than the US and UK), but the decisions and the explanations that followed helped to maintain the risk-on mood.

‘Equity’ is the gap between the debt you have on your property and its value. It has also been a great opportunity for salesmen to sell an ‘unequitable’ product for a commission.

US equity markets have been part of the general rise in risk assets in recent weeks and the publication of economic data that was worse than expected on Monday gave US equities a leg higher as this seemed to reinforce the view that the US Fed will soon slow its rate hikes.

The common sticky misconception of a secured loan is its cost. In the old days, a secured loan was always significantly more expensive than a mortgage and often the last port of call, but costs are very different now, as is the competitiveness of loans.

In the US, the job market remains healthy and doesn’t suggest a recession is imminent, although a closer look does reveal a few signs of weakness. In Europe, the European Central Bank was at pains to stress that it doesn’t intend to change course whatever the data, at least for now.

The total UK credit card debt stands at over £200 billion. The average credit card rate is just over 23 per cent giving a total credit card interest of over £44 billion a year. This would cover the wage demand for the extra needed for nurses three times over.