Rich Brits only group to pocket disposable income rise as inflation chokes poorest families’ finances June 26, 2023 The richest households in the UK are the only group to have undergone a living standards improvement over the last year, while poorer families are being whacked by sky high energy and food bills, according to research out today. Top earners in Britain have seen their post-bill weekly income increase 2.1 per cent over the [...]
Rishi Sunak pleads with Brits to ‘hold our nerve’ in face of sky high interest rates and inflation June 26, 2023 Prime Minister Rishi Sunak has urged the country to “hold our nerve” with sky high interest rates in order to beat down scorching inflation. Sunak today on BBC’s Sunday With Laura Kuenssberg programme gave his full backing the Bank of England’s latest interest rate rise as Tory backbenchers slammed Governor Andrew Bailey for being “asleep [...]
British businesses struggle to source cash amid Bank of England interest rate hikes June 26, 2023 British businesses are struggling to source cash to fuel growth as lenders retrench from the credit market after the Bank of England’s 13 straight interest rate rises, new research out last night showed. Just over nine in 10 mid-sized companies are running into roadblocks when trying to secure financing, prompting them to shelve expansion plans, [...]
Roaring mortgage rates to keep a lid on housing demand as City eyes Bailey and Pill remarks June 26, 2023 Roaring mortgage rates in response to markets betting the Bank of England will have to send official borrowing costs to over six per cent are poised to have kept a lid on housing demand. Fresh figures out this Thursday from the Bank of England are expected to show the volume of mortgages approved in May [...]
Bank of England and others may have to keep rates ‘higher for longer’ to crush inflation June 25, 2023 The Bank of England and the rest of the world’s top monetary authorities’ fight against roaring inflation “is not yet done,” one of the globe’s leading economic institutions has warned. In its annual analysis on the state of the world economy released today, the Bank for International Settlements (BIS), often referred to as the “central [...]
Inflation and growth fears weigh down UK manufacturing June 23, 2023 Higher interest rates, strong inflation and pessimistic expectations for growth are weighing the UK's services and manufacturing sectors.
London money managers bet on UK debt as interest rate hike threatens recession June 23, 2023 Money managers in London are scrambling to rejig their portfolios as they brace for a period of longer interest rate pain following the Bank of England’s move to hike rates again yesterday.
Oil continues two month downturn as recession fears weigh on prices June 23, 2023 Oil prices has resumed their two-month long downturn - driven by demand concerns - with both major benchmarks sliding for a second day.
FTSE 100: London markets dip as investors fret over interest rate pain June 23, 2023 London’s premier FTSE 100 index has tumbled at the open this morning as investors grapple with the Bank of England’s move to hike rates to their highest level in 15 years yesterday.
It was do or die for Andrew Bailey and the Bank of England – in the end, there was no choice June 23, 2023 When it came down to it, there was no choice. Inflation stuck at just below nine per cent. Unforgiving buried price pressures. Businesses rebuilding profits. Workers with no choice but to demand more money. These are the characteristics of an economy stuck in stagflation. The Bank of England had to take drastic measures. Yesterday’s interest [...]