London businesses most confident in the UK amid economic slowdown May 31, 2023 London businesses are poised to lead the UK economy out of its slowdown, although they remain acutely concerned about the impact of higher interest rates and scorching inflation, a new survey out today shows. Confidence among the capital’s firms slimmed four points to 43 per cent, although that was the highest reading of any area [...]
Inflation to top Bank of England target until at least 2026, Goldman Sachs warn May 30, 2023 Inflation in the UK is set to top the Bank of England’s target for at least the next three years, likely forcing governor Andrew Bailey and co to tip the country into recession via yet more interest rate rises, a top Wall Street bank has warned. Researchers at Goldman Sachs late last night hiked their [...]
Top City investor: Rate hikes and gilt spike WILL throw UK economy into recession May 26, 2023 A top Square Mile economist has warned that further rate hikes and the increasing price of government debt means the UK will struggle to avoid recession. Speaking to the BBC’s Today programme this morning, Abrdn’s investment director Luke Hickmore said that incomes were set to come “under a lot of pressure” after the Square Mile [...]
FTSE 100 close: London index extends losses as pound slides and bond yields soar May 25, 2023 London’s FTSE 100 continued yesterday’s wobble today driven by investors fretting over how high the Bank of England will have to send interest rates to tame sticky inflation. The capital’s premier index slipped 0.74 per cent to 7,570.88 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Bank of England to hike interest rates to 5.5 per cent to tame scorching inflation May 24, 2023 The Bank of England will have to hike interest rates to a peak of 5.5 per cent to tame steaming inflation, threatening to push the UK economy back to the edge of recession, markets bet today after fresh numbers showed price pressures are withstanding rate rises. Upward moves in financial markets’ expectations for peak UK [...]
Why today’s inflation numbers are much, much worse than you think May 24, 2023 Inflation in the UK has trimmed to its lowest level in over a year. It has also dropped out of the double digits for the first time since last August. Hooray! These are milestones that shouldn’t be welcomed with much joy, especially given that outside of the last 18 months or so, inflation barely budged [...]
Inflation falls out of double digits to lowest level in a year but tops forecasts May 24, 2023 UK inflation has fallen into single digits but the price of food continues to spiral at the fastest rate in four decades.
Morning in the City: Live updates as inflation drops, results from Aviva and M&S May 24, 2023 Welcome to City A.M.’s live blog on Wednesday 24 May as the latest inflation figures are released, and there are results from Aviva and M&S. What you need to know this morning:
Bank of England governor Andrew Bailey and chief wonk Huw Pill admit they botched inflation forecasts May 23, 2023 Top officials at the Bank of England today admitted they have undershot the strength of inflation, with governor Andrew Bailey confessing the central bank has some “very big” lessons to learn over how it sets interest rates. MPs on the influential treasury select committee slammed members of the monetary policy committee (MPC) for failing to [...]
Britain still on track to dodge a recession this year but inflation returns May 23, 2023 Britain is still on track to avoid a recession in 2023 driven by consumer spending holding up amid a tough cost of living crisis, a closely watched survey out today shows. S&P Global and the Chartered Institute of Procurement and Supply’s composite purchasing managers’ index (PMI) for May hit 53.9 points. While the number was [...]