Bank of England should be ‘more careful’ about rate cuts, say deputy governor April 10, 2025 A Bank of England rate-setter has said that policymakers need to be “more careful” about cutting rates after years of high inflation, adding that it was “too soon to say” whether President Trump’s tariffs will weigh on price growth in the UK. Sarah Breeden became the second official since Trump’s Rose Garden speech to take [...]
Stats body aims to publish key jobs data in late 2026 April 10, 2025 The UK’s official statistics body has set a target of November 2026 for the reform of its flagship Labour Force Survey (LFS), which monitors the UK jobs market. The Office for National Statistics (ONS) has been dogged by several troubles in data gathering, prompting criticism from the Bank of England as well as an intervention [...]
Tariffs could destabilise UK financial system, Bank of England warns April 9, 2025 President Donald Trump’s global trade war is likely to destabilise the UK’s financial system, but the Bank of England has said banks will be able to cope with the shocks. The Bank’s policymakers also warned that the break-up of global trade would lower resilience and depress growth. The Financial Policy Committee (FPC), which monitors risks [...]
UK markets ‘functioning’ and banking system ‘resilient’, Reeves tells MPs April 8, 2025 Chancellor Rachel Reeves has spoken in the House of Commons on the “current economic situation” in the wake of US President Donald Trump’s sweeping new global trade tariffs. Addressing MPs ahead of Treasury questions, Reeves said the “implications have been reflected in the reaction that we have seen in global markets in recent days, which [...]
Bank of England asks lenders about clients’ stability as Reeves brands system ‘resilient’ April 8, 2025 The Bank of England has asked lenders about their clients’ financial well-being after Trump’s tariff onslaught triggered chaos across financial markets. The central bank asked firms for information about market liquidity and whether any of their clients were having funding problems, according to the Financial Times. The Prudential Regulation Authority, which is responsible for the [...]
Four interest rate cuts this year pencilled in by markets April 7, 2025 Markets are betting that the Bank of England will make up to four interest rate cuts this year, double what had been predicted in late March. President Trump’s tariffs are set to drag UK growth back by up to one percentage point, according to various forecasters, while their impacts on inflation remain ambiguous, leading investors [...]
More Brits ‘in financial strain’ as Trump frightens UK voters April 7, 2025 Nearly two in five UK voters are either cutting their spending or are unable to pay essential bills due to ‘financial strain’, according to the latest City AM/Freshwater Strategy poll, as President Trump’s tariffs are set to send Chancellor Reeves’ growth plans into disarray. The Chancellor said at her Spring Statement in March that Brits [...]
Bank of England fines financier Jay Hambro April 2, 2025 The Bank of England has fined banking dynasty scion Jay Hambro for his conduct during a stint as director of the Wyelands Bank, the Sanjeev Gupta-owned lender that ignominiously collapsed in 2020. The BoE’s Prudential Regulation Authority (PRA) issued Hambro – a prominent City figure – with a £72,000 penalty on Wendesday, saying that his [...]
Why are we all saving so much? March 30, 2025 It’s a question that has been puzzling economists for months. The worst of the cost-of-living crisis is, for most households, moving further into their rear-view mirror. The Bank of England’s rate setters have successfully – if belatedly – reined in the worst of the inflation that caused so many households to tighten their belts after [...]
MPC member: Trump tariffs won’t push UK inflation higher March 27, 2025 Interest rate-setter Swati Dhingra has suggested that President Donald Trump’s tariffs are unlikely to move UK inflation measures despite taking a toll on growth. The Bank of England held its interest rates at 4.5 per cent last week. External member Dhingra voted alone in favour of a cut in an 8-1 decision. Speaking at [...]