UK at risk of downgrade: Hunt considers tax cuts amid ‘high debt and borrowing costs’ February 13, 2024 Fitch said that "policy choices are key to reducing UK fiscal uncertainty".
Bank of England still on course for May interest rate cut despite strong pay growth February 13, 2024 In the final quarter of last year, regular pay dropped to 6.2 per cent from 6.7 per cent, above the Bank of England's forecast of six per cent. Not a big overshoot, but an overshoot nonetheless.
Wage pressures ease again but beat Bank of England’s expectations February 13, 2024 Rate-setters at the Bank of England have argued that pay pressures need to ease before interest rates can start being cut.
Why taxpayers have to transfer the banks tens of billions February 13, 2024 The Bank of England attracted yet more unwanted attention last week when MPs described its bond selling programme, known as quantitative tightening, as a “leap into the dark”. According to the Bank’s calculation, quantitative tightening could cost the taxpayer up to £130bn over the lifetime of the scheme. MPs highlighted that it was “highly anomalous” that decisions [...]
Savers not seeing all of Bank of England’s interest rate hikes, Bailey suggests February 13, 2024 "Overall deposit rates have risen by somewhat less than Bank Rate," Andrew Bailey said in a speech at Loughborough University.
Moving markets: Five things shaping the FTSE 100 today February 13, 2024 U.S. stocks closed mixed, while Asia saw modest gains. Bitcoin hits $50,000, oil prices remain stable, and the focus shifts to UK labour market data and U.S. inflation.
Bank of England risks being ‘too slow’ in cutting interest rates, Haldane warns February 12, 2024 The Bank of England's former chief economist said today that he would have already voted to cut interest rates given the UK's slow growth rate and progress on taming inflation.
FTSE 100 close: London flat as investors await health check on UK economy, real estate merger creates £2.6bn fund February 12, 2024 Investors were largely sitting on their heads ahead of a packed calendar of data releases.
Pay growth to ease for first time since Covid in ‘key moment for labour market’ February 12, 2024 Jon Boys, senior labour market economist for the CIPD, said "this feels like a key moment in the UK labour market".
Winter recession to be confirmed for UK economy – but experts are upbeat about 2024 February 12, 2024 New figures are likely to confirm that the UK economy fell into a shallow recession in the second half of last year, but experts are hopeful that 2024 will be a better year.