Rate-setter calls on Bank of England to adopt ‘activist’ approach to rates March 6, 2025 The Bank of England should adopt a more activist approach to setting interest rates in order to deal with the “substantial volatility” affecting geopolitics and financial markets, a rate-setter has said. Catherine Mann, an external member of the Bank’s Monetary Policy Committee (MPC), argued that rate-setters should be more willing to vote for more radical [...]
Week in Business: Who will Rachel Reeves blame for higher taxes in Spring Statement? March 6, 2025 City AM Editor Christian May looks at the biggest business stories in his weekly video, today focusing on the UK economy and upcoming Spring Statement.
Reeves is gearing up for a blame game March 6, 2025 You can hear the spin a mile away; as the Chancellor’s team prepares for the Spring Statement the groundwork is being laid. Despite the fact that the inevitable consequences of the government’s multi-billion pound tax raid on businesses have been clear for months, with economic growth suffocated, sources close to the Chancellor are telling the [...]
Bank of England warns ‘age of uncertainty’ stopping rapid rate cuts March 5, 2025 An “age of uncertainty”, especially over the path of inflation, means that rapid interest rate cuts are unlikely to be coming to the UK, top Bank of England officials have said. Huw Pill, chief economist at the Bank of England, said the central bank was unlikely to make “larger and more rapid cuts to interest [...]
One in five Brits in ‘high financial stress’ as economic woes deepen March 3, 2025 Public confidence in the UK economy has taken another hit, with the latest City AM Freshwater Strategy poll showing little hope for the near future. The polling revealed nearly one in five voters, 18 per cent, could not pay an unexpected £500 bill, categorising them as in “high financial stress”. 35 per cent said their [...]
Interest rates to fall to 3.5 per cent City firm predicts February 27, 2025 Paul Dales, chief UK economist at the City consultancy, said it was "very unusual" for the Bank of England to cut interest rates when inflation is expected to rise further even further above target.
Week in Business: Will more defence spending mean higher taxes? February 27, 2025 Cutting the international aid budget to boost defence spending – sounds like a fair exchange in a time of war and hazard – but there’s more to this announcement than meets the eye. The Prime Minister was deadly serious when he stood up in the Commons this week to declare that the country faces a [...]
Tariffs unlikely to spark persistent inflation, Bank of England rate-setter says February 26, 2025 Swati Dhingra, a rate-setter at the Bank of England, said Donald Trump’s tariffs would likely push down on domestic inflation as global exporters slashed prices to maintain market share. Dhingra warned that the UK was “particularly sensitive” to changes in imported costs due to its openness, but suggested that the danger of tariff-induced inflation was [...]
Andy Haldane steps back from role at RSA February 21, 2025 Andy Haldane is stepping down from his role as chief executive of the Royal Society for the Encouragement of Arts (RSA) to take a career break. The former chief economist at the Bank of England will stay on at the charity, one of the UK’s leading arts and innovation third sector bodies, until half-way through [...]
How will inflation impact Bank of England interest rate decisions February 19, 2025 The first inflation figures of the year confirmed what many had already known: Inflation will rise significantly in 2025.