Bank of England holds interest rates and downgrades growth forecasts December 19, 2024 The Bank of England held interest rates at 4.75 per cent today, while downgrading economic forecasts for the UK towards stagnant growth. Only six members of the Bank’s Monetary Policy Committee voted to keep interest rates steady, less than had been expected, as three voted to cut rates by 0.25 per cent citing fears over [...]
Inflation spike ‘raises questions’ over health of UK economy December 18, 2024 The spike in inflation to 2.6 per cent today has raised questions about the health of the UK economy, according to analysts. The news comes ahead of the Bank of England’s meeting to decide the path of interest rates tomorrow, with markets agreeing that combined with higher-than-expected wage growth yesterday, a cut is off the [...]
UK inflation spikes ahead of Bank of England rates decision December 18, 2024 UK inflation spiked to 2.6 per cent ahead of the Bank of England’s meeting to decide interest rates later this week. Year-on-year inflation matched expectations of 2.6 per cent in November, up from 2.3 per cent in October, data from the Office for National Statistics revealed. Meanwhile, core inflation, which strips out volatile commodities like [...]
Strong wage growth kills hopes of interest rate cut December 17, 2024 Analysts have warned that strong wage growth data reported this morning has killed any chance that the Bank of England will cut interest rates later this week. While the central bank had been widely expected to hold interest rates at its Monetary Policy Committee meeting on Thursday, the decision has been cemented by wages rising [...]
Bank of England set to hold interest rates after inflation jump December 16, 2024 The Bank of England is poised to leave interest rates on hold this week after inflation rose more than expected.
UK inflation expected to rise again in fresh blow to Labour December 16, 2024 Official data this week is expected to show inflation moved further away from the Bank of England's two per cent target in November, dealing another blow to the government after a contraction in GDP.
UK economy ‘at risk of stagflation’ as growth stalls under Labour December 13, 2024 Latest official GDP figures show the UK economy has stopped expanding since Labour took power, creating a headache for Keir Starmer after putting growth at the centre of his government’s mission. The economy unexpectedly shrank by 0.1 per cent in October, according to new data from the Office for National Statistics. It missed economists’ expectations [...]
US inflation ticks up as market holds breath for Fed cut December 11, 2024 US inflation ticked up to 2.7 per cent in November, a rise from 2.6 per cent in October and matching analyst expectations. This was the highest level of inflation that the US has experienced since July, after dipping to as low as 2.4 per cent throughout September. Inflation has not been below its 2 per [...]
Firms set to hike prices, reduce pay and cut staff, Bank of England survey shows December 5, 2024 More than half of firms surveyed by the Bank of England expect to raise prices in response to the Budget.
Budget tax hikes send business confidence to two year low, survey shows December 4, 2024 S&P's purchasing managers' index (PMI) for the services sector showed that business expectations for the year ahead were at their lowest level since December 2022.