Bank of England may be forced to prioritise growth in 2025 December 19, 2024 Despite inflation continuing to be a headache for the Bank of England, leading it to hold interest rates today, the central bank may end up being forced to make more cuts than it would like in 2025 to salvage the UK economy. While today’s decision from Andrew Bailey’s Monetary Policy Committee to hold rates had [...]
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 [...]
UK wages continue to surge as Bank of England set to decide on interest rates December 17, 2024 UK unemployment remained steady over the last three months as wage growth surged over the quarter to October. Unemployment was unchanged at 4.3 per cent for the second straight month during October, data from the Office for National Statistics revealed. The number of people claiming jobless benefits climbed by just 300 in November, beating the [...]
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.
Fed gets ‘green light’ for another interest rate cut following jobs report December 6, 2024 The latest jobs report showed that the world's largest economy added 227,000 jobs last month, slightly ahead of the 200,000 expected by economists.
Construction projects in London dipped but developer optimism remained November 28, 2024 Construction projects in London dipped this year, but positive signals like lower interest rates and easing construction cost inflation have boosted optimism amongst developers. The number of construction projects started between April and September this year fell by 12 per cent, with refurbishments down 57 per cent, according to the Deloitte London office crane survey. [...]