Bank of England should take ‘measured approach’ to interest rate cuts after balanced survey September 5, 2024 The Bank of England’s survey covers prices charged across the whole economy, not just in consumer-facing firms.
Services firms benefit from post-election stability and rosy economic outlook September 4, 2024 The survey put activity in the services sector at its fastest pace since April, extending the current period of growth to ten months.
Pound’s rally fades ahead of crucial US jobs data September 3, 2024 The pound’s stunning rally has stalled as traders look for direction amid a quiet week in the data calendar for the UK. Sterling was trading 0.2 per cent lower against the dollar at around $1.311 having lost over one per cent against the greenback in the past five days. The dollar has been trading around [...]
Regulator set to postpone UK bank capital reforms until at least January 2026 August 29, 2024 The UK’s main banking regulator is reportedly planning to delay the latest series of bank capital reforms as it monitors how the rules are developing in the US. The Bank of England’s Prudential Regulation Authority (PRA) is set to delay its entire Basel 3.1 package until at least January 2026, with an official announcement expected in the [...]
London hotel occupancy rates return to pre-Covid levels but services inflation fears fueled August 29, 2024 London hotels enjoyed another strong month in July as occupancy rates finally ticked back up to peak occupancy levels seen in summer 2019, but it’s not all rosy for the industry. London occupancy reached 89.3 per cent, up on 84.6 per cent last year and back to peak occupancy levels seen in July 2019. Despite [...]
Interest rates are coming down – but how low will they go? August 27, 2024 There will be multiple debates over the next few months about how fast and how far interest rates should be cut. But how low will they go? Chris Dorrell asks
Shop prices in deflation for first time in almost three years August 27, 2024 The overall index was pulled down by non-food prices, which fell further into deflation in August.
Jackson Hole highlights: Powell’s cutting rates, Bailey’s lifting weights August 26, 2024 Central bankers from all over the world descended on the small Wyoming town of Jackson Hole last week for a session of ruminating, speculating and pontificating. Here are the four main takeaways from the annual central banking shindig.
Bank of England warned to be wary of public sector pay deals August 23, 2024 "The big risk is that by setting a benchmark for private sector firms, these pay deals prevent wage growth and services inflation from falling much further," Ashley Webb, UK economist at Capital Economics said.
‘Sticky’ hurdle rates contributing to resilient UK business investment August 22, 2024 Research from the Bank shows that firms' use of 'hurdle rates' might be slowing the impact of higher interest rates.