Rate of pay rises expected to slow over coming year as inflation eases October 18, 2023 The rate of pay rises is expected to slow over the coming year as easing inflation means employees face less pressure to secure higher pay packages.
Global satellites soon to contribute more than £370bn to UK economy October 18, 2023 The UK Space Agency has launched an 18-month programme to help more businesses unlock the benefits of satellite data and services.
All eyes on inflation for hints about future interest rate path, after wage growth eases October 17, 2023 "With today's release, we have now had three consecutive prints showing a clear deceleration in sequential wage pressures, although these pressures remain elevated," Ibrahim Quadri, an analyst at Goldman Sachs said.
Wage growth ‘past its peak’ in boost for Bank of England’s attempts to contain inflation October 17, 2023 The rate of pay rises slowed from record levels in a boost for the Bank of England, but remained at elevated levels, official figures show. According to figures from the Office for National Statistics (ONS), average wage growth excluding bonuses was 7.8 per cent between June and August, down slightly from last month and in [...]
Higher debt interest payments means government will have ‘no room’ for tax cuts, IFS says October 17, 2023 The government will have "no room" for tax cuts as rising interest payments and slowing growth puts politicians in an increasingly tight fiscal space, the Institute for Fiscal Studies (IFS) has said.
Bank of England’s Huw Pill: Interest rates must remain high to tackle ‘persistent’ inflation October 16, 2023 Markets doubt whether a further rate hike will be necessary, but Pill reiterated that the Bank "still has some work to do in order to get back to two per cent".
UK to avoid recession despite Bank of England interest rate rises, EY predicts October 16, 2023 The UK will avoid a recession despite the impact of the Bank of England's interest rate hikes, new forecasts from the EY Item Club say.
House prices: October bump the worst since the height of the financial crisis October 16, 2023 House price behaviour is back where it was in the height of the financial crisis, with the "key selling season" of October failing to give prices liftoff.
Inflation to continue falling despite rising energy prices, experts predict October 15, 2023 Falling food prices are expected to help bring down the annual rate of inflation in September.
Jeremy Hunt warns of ‘difficult decisions’ ahead of Autumn statement as interest bill rises October 13, 2023 A massive increase in borrowing would be "reckless and the wrong thing to do," Hunt said, adding that would make reducing the tax burden more difficult.