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What does political instability and market volatility mean for separating couples?

Date:27 FEB 2023

The year 2022 experienced unprecedented levels of global market volatility. In particular because of political instability and a controversial “mini-budget” in September 2022 the British pound fell over 16% against the US dollar and 7% on a trade weighted index. This resulted in greater than anticipated increases to the cost of living as the cost of exports rose. The turbulence of 2022 which included the economic impact of the ongoing conflict in Ukraine has caused huge ruptures in the markets and many economists fear that the worst is yet to come. The Bank of England responded to the crisis and raised interest rates by 50 basis points in an attempt to balance inflation. In 2022 the UK has experienced interest rates rise from 0.1% to 3.5% and it is expected that they are to continue to rise well into 2023. These changes will have a significant impact on most households and families across the UK but what does this mean for couples getting divorced and their financial settlements?

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