Homeowners on edge as inflation and interest rates rise: What is next for UK mortgage rates? July 26, 2022 Many people up and down the country will be feeling the financial strain of the cost-of-living crisis, and this’ll only add more pressure on the monthly budgets of millions of UK mortgage homeowners and of those currently looking to buy. With the Bank of England’s base rates having risen to 1.25 per cent in June [...]
UK voters’ concerns on inflation reach highest level in four decades July 26, 2022 UK voter worries on inflation are at their highest since the 1980s as the country faces a severe cost of living crisis and prices of essentials surge. The July 2022 Ipsos Issues Index by research company Ipsos showed that 45 per cent of adults in the UK view inflation as one of the most pressing [...]
Inflation shock sends chill through British factories, but hiring holds up July 25, 2022 A softening in the UK economy caused by surging inflation has clamped down on UK factories, a closely watched survey published today reveals. A net balance of six per cent of British manufacturers posted new order growth over the last three months, down sharply from 25 per cent in the three months to June, according [...]
US Federal Reserve to back up monster rate hike with another 75 basis point move July 25, 2022 The US Federal Reserve will back up its monster rate rise last month with another big 75 basis point hike this week as it chases down scorching inflation across the pond. That’s according to Wall Street analysts, who think Fed chair Jerome Powell and the rest of the federal open market committee (FOMC) will need [...]
Truss or Sunak will need to deliver ‘shot in the arm’ of UK economy July 22, 2022 Rishi Sunak or Liz Truss will need to deliver a “shot in the economic arm” of the country to lift Brits’ confidence out of the doldrums after one of them wins the Conservative leadership race, two closely watched surveys published today reveal. Scorching inflation, the highest interest rates in 13 years and tax hikes have [...]
Scorching inflation sends UK debt interest bill to record-high £19bn July 21, 2022 Scorching inflation has ballooned the UK’s debt interest bill to its highest level since records began in the early 1990s, official figures published today revealed. The amount of money the UK had to pay investors holding government debt in June more than doubled over the last year, topping £19bn, up from £9.1bn in June 2021, [...]
All Bar One owner Mitchells & Butlers has drop in sales amid ‘major challenges’ from inflation July 21, 2022 All Bar One owner Mitchells & Butlers continue to face a “major challenge” due to the impact of the pandemic and ongoing inflation rises. The retailer experienced a drop in sales by 1.6 per cent in the year to date, claiming a mixture of the Jubilee weekend, industrial action and hot weather saw people go [...]
FTSE 100 loses Wall Street bounce as banks falter July 20, 2022 A boost from a bumper day on Wall Street yesterday was not enough to help London’s FTSE 100 finish higher today. The capital’s premier FTSE 100 index shed 0.44 per cent to close at 7,264.31 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added [...]
Martin Lewis warns government of ‘financial time bomb’ as cost of living crisis worsens July 20, 2022 Martin Lewis warned the government of a “financial time bomb” due to explode in September as the UK’s cost of living crisis intensifies. The founder of MoneySavingExpert.com issued an “open video letter” to the current Conservative Party leadership candidates and warned of even higher energy costs and civil unrest as the UK struggles with record [...]
Inflation races to new 40-year high – but worst is yet to come July 20, 2022 UK inflation raced to a fresh 40-year high last month, but economists have warned the cost of living squeeze is set to get even worse. Prices surged 9.4 per cent over the year to June, the quickest acceleration since 1982 and up from an already historic level of 9.1 per cent in May, according to [...]