Recession confirmed for UK after GDP dropped 0.3 per cent in final quarter February 15, 2024 The UK has struggled to generate any momentum over the course of 2023 due to the dual impact of rising inflation and high interest rates.
January’s inflation data ‘encouraging’ and strong pay figures not unduly concerning, Bailey says February 14, 2024 Speaking in the House of Lords' Economic Affairs Committee, Bailey admitted that the figures, published this morning, were "good news".
Why inflation staying stuck at four per cent is actually good news February 14, 2024 The fact that the headline rate of inflation remained steady in January despite these increases points to stronger than anticipated disinflationary pressures elsewhere.
Inflation comes in below expectations at four per cent thanks to falling food prices February 14, 2024 Markets expect the Bank of England to start cutting interest rates in June with three rate cuts expected over the course of the year.
Bank of England still on course for May interest rate cut despite strong pay growth February 13, 2024 In the final quarter of last year, regular pay dropped to 6.2 per cent from 6.7 per cent, above the Bank of England's forecast of six per cent. Not a big overshoot, but an overshoot nonetheless.
Wage pressures ease again but beat Bank of England’s expectations February 13, 2024 Rate-setters at the Bank of England have argued that pay pressures need to ease before interest rates can start being cut.
Savers not seeing all of Bank of England’s interest rate hikes, Bailey suggests February 13, 2024 "Overall deposit rates have risen by somewhat less than Bank Rate," Andrew Bailey said in a speech at Loughborough University.
Bank of England risks being ‘too slow’ in cutting interest rates, Haldane warns February 12, 2024 The Bank of England's former chief economist said today that he would have already voted to cut interest rates given the UK's slow growth rate and progress on taming inflation.
Winter recession to be confirmed for UK economy – but experts are upbeat about 2024 February 12, 2024 New figures are likely to confirm that the UK economy fell into a shallow recession in the second half of last year, but experts are hopeful that 2024 will be a better year.
Bank of England to start cutting interest rates in May with inflation on its way to target February 12, 2024 Andrew Bailey, the Bank's governor, noted the "good news" on inflation while Huw Pill, the Bank's chief economist, suggested rate cuts were a "when rather than an if".