Top Bank of England rate setter warns inflation will breach five per cent soon December 6, 2021 A top rate setter at the Bank of England has today warned inflation will soar far above the Old Lady’s target and breach five per cent. Ben Broadbent, a deputy governor at the Bank, said in a speech in Leeds “in the spring of next year… [inflation] will probably climb comfortably through five per cent, [...]
China central bank slashes reserve requirement to boost struggling businesses December 6, 2021 China’s central bank has slashed the amount of money the country’s lenders need to hold in reserves. The move to loosen the reserve regime by the People’s Bank of China (PBOC) is being seen as a bid to stimulate the country’s economy by incentivising banks to lend. The required reserve ratio (RRR) has been cut [...]
UK construction firms start to see the wood for the trees as shortages ease December 6, 2021 UK construction firms are finally starting to see the wood for the trees as supply constraints and roaring inflation cool, according to a closely watched survey published today. Output in the British construction industry rose at its fastest pace in four months, according to IHS Markit and the Chartered Institute of Procurement and Supply’s (CIPS) [...]
London markets rise as Omicron jitters recede December 6, 2021 Investors’ fears over the Omicron variant of coronavirus derailing the global recovery from the pandemic have seemingly receded over the weekend, lifting London markets during the opening bell today. The capital’s premier FTSE 100 index climbed nearly one per cent to 7,188.24 points during the first hour of trading. The mid-cap FTSE 250 index, which [...]
We’re all to blame for shortages and roaring inflation December 6, 2021 A large chunk of people seem to be experiencing buyers’ remorse. Whether it was cocktail making kits, hot tubs or garden furniture, the British consumer hoarded and hoarded during lockdown, and many of us are regretting those purchases. But, people should not feel alone in making these bizarre purchases. The pandemic enforced a seismic shift [...]
Severity of Omicron to determine UK economy’s fate, analysts warn December 6, 2021 The severity of the Omicron variant will determine the strength of the UK’s economic recovery from the pandemic over the coming year, according to City economists. The British economy could reach its pre-pandemic size by the third quarter of next year if the new strain of coronavirus proves to be less deadly than first thought, [...]
London markets brace for another week of Omicron volatility December 5, 2021 London markets are set for another whipsawing week driven by investors responding sharply to any news on the Omicron variant. The capital’s premier FTSE 100 index was extremely volatile last week, fluctuating between good and bad days. The blue-chip index ultimately finished the week higher, but failed to cancel out all of the losses registered [...]
Labour squeeze shows no signs of easing ahead of Christmas shopping rush December 3, 2021 ]Shortages of workers stopping UK businesses from functioning normally show no signs of letting up over the busy Christmas period, according to fresh figures published today. In the last week alone, over 200,000 new job adverts were posted as retailers, pubs and restaurants push to ramp up staff levels in preparation for the festive shopping [...]
Sea of red on Wall Street bleeds into London markets December 2, 2021 A crash on Wall Street on Wednesday triggered by the chief of the US Federal Reserve signalling stimulus could be pulled earlier than expected bled into London markets yesterday. The capital’s premier FTSE 100 index closed 0.55 per cent lower at 7,129.21 points, while the mid-cap FTSE 250 index, which is more aligned with the [...]
Red hot property market makes Brits the richest they have ever been December 2, 2021 A booming property market triggered by a tax holiday and Brits demanding larger homes has made the UK the richest it has ever been. Household wealth in Britain swelled 8.4 per cent over the last year to £11.2 trillion, the highest it has ever been since the Office for National Statistics (ONS) started tracking the [...]