The UK is ready for a hike | Carmakers are still stationary | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for March 18th in 3:10 minutes. ð©âð» Web3 is bringing a whole new world of investment opportunities into the blue light, so join SW7âs Christopher Williamson for [How To Secure Your Digital Assets In The New Web3](, and find out how to keep yourself safe while you soak it all up. Those plastic yellow glasses might help a bit too. [Grab your free ticket]( Today's big stories - The Bank of England raised interest rates for the third time in four months
- Our analyst has looked into how one of the biggest NFT deals ever announced could affect the wider NFT market â [Read Now](
- Car sales in Europe had their worst February on record Magic Touch [Magic Touch] Whatâs Going On Here? The Bank of England (BoE) [raised]( interest rates again on Thursday, but even the simplest of psychics could have told you that would happen. What Does This Mean? The BoE hiked interest rates from 0.50% to 0.75% on Thursday, making it the first major central bank to bring rates back to their pre-pandemic levels ([tweet this](). Thatâs its third consecutive hike since December, and its fastest pace of hikes since 1997. But no oneâs surprised: the BoE was already the first big central bank to raise rates after the pandemic hit, and it was widely expected to do it again. After all, the BoEâs under pressure to cool the countryâs three-decade high inflation, especially since it's set to soar higher from the effects of war in Europe. Why Should I Care? For markets: Careful, there.
The BoE now expects inflation to hit 8% by the end of next quarter, up nearly 1% from its forecast in February. The central bank even reckons inflation could hit double-digits later this year, when the energy price cap â a limit on how much suppliers can charge customers â is likely to rise again. The BoE looks like itâll be careful with its future hikes, mind you: it's trying to fight inflation without hurting the economy too much, since consumer confidence is already falling and Brits' wallets are squeezed more than the central bank expected. That might explain why some economists now only expect two more hikes this year, rather than the five that were priced into the markets before the news. Zooming out: Chinaâs switching things up.
Chinaâs not on the rate hike bandwagon, thatâs for sure: its government [said]( this week it needed to boost the economy this quarter, after recent government crackdowns and Covid lockdowns left the country reeling. Analysts, then, [think]( that might mean the government will cut a key interest rate in the next few days. Â You might also like: [The long-term opportunity emerging from Britainâs rising interest rates.]( Copy to share story: [( ð [Ask a question](mailto:questions@finimize.com?body=Ask us a question:
Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Magic Touch&utm_campaign=daily-global-18-03-2022&utm_source=email) Analyst Take
The NFT Market Could Be Shaken Up By This Mega Deal [The NFT Market Could Be Shaken Up By This Mega Deal]( [Photo of Reda] Reda, Analyst Whatâs Going On Here? Last Friday, Yuga Labs â the creator of Bored Ape Yacht Club (BAYC) â [acquired]( the intellectual property of the CryptoPunks and Meebits NFT collections from Larva Labs. Thatâs huge, not least because Yuga now owns the [biggest and most culturally significant NFTs in the space](. But while the deal was celebrated by all three collection holders, it has [very different implications]( for each of them. Thatâs not to mention the [big effects]( itâs also expected to have on the wider NFT market. So thatâs todayâs Insight: [what the deal means for the three NFT collections](, and [how itâll impact the wider NFT market](. [Read or listen to the Insight here]( SPONSORED BY FRANSHARES Sit back, relax, and franchise Private equity firms the world over are investing in franchises. And now you can join them from as little as $500 with [FranShares](. Earn a passive income: The expert team at [FranShares]( manages your [franchise portfolio]( for you, so you can just tick off the days till your quarterly paycheck. Get the best opportunities: FranSharesâ expert team handpicks [recession-proof franchises]( with a long track record of success. Pay zero management fees: [Franshares]( waives all the fees that would usually cut into your bottom line, meaning you get to keep hold of every cent of that reward. This is the beginning of a beautiful friendship: [check out FranShares](. [Find Out More]( Roadblock [Roadblock] Whatâs Going On Here? Data out on Thursday [showed]( that car sales in Europe slumped again last month, leaving carmakers searching for any possible route that will get them cruising again. What Does This Mean? Europeâs carmakers have been lacking the parts they need to keep production on track for months now, so theyâve been stuck making â and in turn, selling â fewer cars. Just look at some of the regionâs giants: Renault, Volkswagen, and Stellantis each sold 4%, 12%, and 18% fewer cars last month than the same time last year. In fact, there were 6.7% fewer new cars registered in Europe this February than last, worse than Januaryâs 6% fall and the weakest showing for February on record. Carmakers, then, are likely to fall back on the one trick thatâs been keeping them going: focusing on manufacturing their higher-end, more profitable cars to make up the shortfall. Why Should I Care? Zooming in: Itâs only down from hereâ¦
Thing is, last monthâs data only accounts for the very start of Russiaâs war in Ukraine, and thereâs likely a lot more fallout to come. After all, Ukraineâs a major supplier of key car parts, and analysts reckon shutdowns in the country could cut Europeâs production numbers by up to 700,000 in the first half of the year alone. Add in that German giants Volkswagen, BMW, and Mercedes have already cut production at their European plants, and youâll see why Bloomberg Intelligence thinks the regionâs car sales could flatline this year, having previously predicted 5% growth. The bigger picture: Europe, meet Japan.
European carmakers arenât alone: Toyota [said]( earlier this week that the chip shortage is forcing it to make more production cuts this month. That comes just days after it lowered its domestic production targets for next quarter, in an effort to ease the strain on its suppliers. And since lockdowns have also forced some of its Chinese plants to shut down, there could be more cuts to come. You might also like: [Where auto experts see the auto industryâs biggest opportunities.]( Copy to share story: [( ð [Ask a question](mailto:questions@finimize.com?body=Ask us a question:
Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Roadblock&utm_campaign=daily-global-18-03-2022&utm_source=email) ð¬ Quote of the day âDonât live the same year seventy-five times and call it a life.â â Robin Sharma (a Canadian writer) [Tweet this]( SPONSORED BY NEXO Show volatility whoâs boss You canât beat volatility, but you can outsmart it. With [Nexoâs]( industry-leading Earn, youâll turn your idle crypto into a reliable stream of income, no matter what ups and downs are going on in the wider market. You can earn up to [20% interest on all your favorite coins](, and depending on your choice of plan, youâll also unlock daily compounding interest or the maximum possible yield. And whichever you choose, you can rest easy knowing your assets are protected by [Nexoâs]( $375 million insurance policy. [Make a deposit]( before the end of March, and youâll even get a [welcome bonus of up to $100](. [Get Your Welcome Bonus]( When you support our sponsors, you support us. Thanks for that. ð¯ On Our Radar - No, it wasnât the start of the apocalypse. [This is why]( Europeâs skies turned red this week.
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- Euphoriaâs relationships are messy, thatâs for sure. [Hereâs how]( they would play out in real life.
- No oneâs sure how this man died. It mightâve been the [pig heart](, though.
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