Stock markets rally

Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.

Biggest package yet

Global stock markets have rallied after the US announced $1.8 trillion (£1.5 trillion) in economic relief to help struggling industries. What’s in the package? Money for American workers and businesses to help prevent mass job losses. In response, share prices across the world surged on Tuesday and Wednesday morning, continuing one of the most volatile months ever in the financial markets.

Oil prices suppress inflation

The Consumer Prices Index (CPI) inflation rate was just 1.7% in February, slightly lower than in January. The fall was mostly down to low oil prices, which suffered at the end of February when travel restrictions came in and airlines started cancelling flights. Remember the oil price war between Russia and Saudi Arabia earlier this month? When the March numbers come out, we’re expecting them to show a further drop in inflation.

Evictions not banned

Last week the government announced that tenants would be protected from eviction during the coronavirus crisis. But it’s forgotten that promise while drawing up legislation, which instead says that landlords must give three months' notice, not two (paywall). There’s nothing to stop them serving eviction notices to turf out tenants who can’t pay.

Amazon rip-offs rife

Online shopping platforms are failing to stop profiteers from selling in-demand items at huge markups. Amazon Marketplace and eBay both have hand sanitiser, loo rolls, thermometers, and baby formula for sale at extortionate prices. The consumer watchdog the Competition and Markets Authority (CMA) has set up a task force to try and crack down on the opportunists cashing in on supermarket shortages.