Rachel Reeves ‘investigated over expenses’ in HBOS banking job February 13, 2025 Rachel Reeves was investigated over her use of expenses while working in a banking job before becoming an MP. The Chancellor, alongside two colleagues, was subject to an internal probe into expenses claims, while she was a senior manager at Halifax Bank of Scotland (HBOS) in the late 2000s, the BBC has revealed. Reeves is [...]
BoE’s Greene backs ‘cautious’ interest rate cuts despite ‘uncomfortable’ growth performance February 12, 2025 A rate-setter at the Bank of England backed a “cautious” approach to cutting interest rates despite the “uncomfortable” recent performance of the economy. “The macroeconomic news over recent months has been uncomfortable,” Megan Greene, an external member of the Monetary Policy Committee (MPC) said. “GDP has roughly flatlined since Spring of last year and expectations [...]
Andrew Bailey: Don’t forget ‘lasting damage’ of financial crisis in push to deregulate February 11, 2025 He stressed his comments were not a "pitch for the necessity and inevitability of more regulation," but insisted that there was no "fundamental trade off" between growth and financial stability.
Bank of England needs to ‘cut through the noise’, rate-setter says February 11, 2025 In a speech delivered in Leeds, Mann explained that the persistence of "embedded inflationary behaviours" had diminished due to growing weakness in the economy.
Investors are not taking the Bank of England seriously February 11, 2025 The Bank is clearly far more nervous about inflation than many in the City.
Week in Business: Growth hammer blow means Reeves must change course February 7, 2025 If the Chancellor was still on a high from last week’s big growth-focused speech, the Bank of England has just pulled her back down to earth and, for good measure, poured a bucket of cold water over her. This is a time for hard truths and none harder than the hammer-blow fact that the Bank [...]
City split following Bank of England’s interest rate decision February 7, 2025 Analysts are divided about how far and how fast the Bank of England is likely to cut interest rates in the remainder of this year following yesterday’s decision. Rate-setters backed a third 25 basis point rate reduction, which brought the Bank Rate down to an 18-month low of 4.5 per cent. Every member of the [...]
Stagflation: Chancellor Rachel Reeves faces mess of her own making February 7, 2025 The Bank now expects the UK economy to grow 0.7 per cent this year, cut from a previous estimate of 1.5 per cent. Inflation, meanwhile, will hit 3.7 per cent later this year.
What the Bank of England interest rate cut means for your money February 6, 2025 Consumers need “careful financial planning in the months ahead” after the Bank of England cut interest rates on Thursday, wealth manager Quilter has warned. Financial planner at Quilter Holly Tomlinson said the 25 basis point cut will be “good news” for borrowers, whilst savers will be stung by lower returns on deposits. Tomlinson said: “Banks [...]
Why the Bank of England slashed its growth forecasts February 6, 2025 The Bank of England delivered Chancellor Rachel Reeves a mixed blessing on Thursday. Alongside cutting interest rates by 25 basis points, Bank officials halved the UK’s expected growth rate in 2025 to 0.7 per cent from a previous estimate of 1.5 per cent. This will come as a blow to Reeves, who has staked her [...]