UK economy receives hefty growth upgrade from IMF October 22, 2024 The international fiscal watchdog now expects the UK to grow 1.1 per cent in 2024, up from a previous forecast of 0.7 per cent.
Bank of England more likely to back faster rate cuts after inflation surprise October 16, 2024 New figures showed that inflation came in below the two per cent target for the first time since April 2021.
Inflation falls below two per cent for first time since April 2021 October 16, 2024 September's inflation figures come a day after official data showed a further easing in wage growth, which bolstered bets that the Bank would cut interest rates in November.
Despite falling unemployment, a November rate cut looks almost certain October 15, 2024 The figures showed that regular pay growth was at its lowest level since June 2022 while pay growth including bonuses dropped to its lowest level since November 2020.
Wage growth eases again in boost for rate cut hopes October 15, 2024 Strong wage growth has been a concern for policymakers at the Bank of England due to fears that it could keep cost pressures elevated, particularly in the labour-intensive services sector.
UK inflation expected to fall below two per cent target October 13, 2024 UK inflation is tipped to fall below the Bank of England's two per cent target for the first time in more than three years.
Bank of England should not adopt ‘aggressive’ rate cuts October 8, 2024 In an interview with the Guardian, Governor Andrew Bailey said there was a chance that the Bank could become a "bit more activist" on rate cuts in the months ahead.
Bank of England’s Huw Pill: ‘Ample reason for caution’ on interest rates October 4, 2024 Huw Pill, chief economist at the Bank of England, called for a “gradual” approach to cutting interest rates, citing continued concerns about the potential upside risks to the inflationary outlook. In a speech this morning Pill said there was “ample reason for caution” when assessing the dissipation of inflationary persistence. “While further cuts in Bank [...]
Bank of England survey suggests progress on inflation might be slowing October 3, 2024 The Bank's own decision maker panel (DMP), which surveys business leaders around the country, showed that wage and price pressures were more stubborn than anticipated last month.
Services inflation falls to lowest level since February 2021, survey suggests October 3, 2024 The survey noted that "competitive pressures continued to limit pricing power," which helped to contain inflationary pressures.