This A.M.: Tide is turning at the Bank of England while markets await Powell remarks September 28, 2021 Having started the day in positive fashion yesterday, European markets saw the majority of the early gains slowly disappear, and though most did finish higher, it was a somewhat half-hearted affair. The result of the German election went entirely as expected, with little prospect of a new government this side of Christmas. US markets were [...]
Andrew Bailey: Interest rate rise needed to slow inflation but economy not strong enough September 28, 2021 Andrew Bailey said in a speech last night to the Society of Professional Economists that rate of recovery from the pandemic had slowed over recent months, adding: “And that slowing is continuing.” The Bank of England governor jokingly asked “when is the plague of locusts due” as he warned the economy faces “hard yards” ahead. [...]
‘Triple-whammy’ of inflation, energy bills and tax rises to eat into household budgets September 26, 2021 Incoming budget pressures over the next six months could squeeze the budgets of many Brits. In fact, a “triple-whammy” may leave low income families more than £1,000 worse off annually, according to a think tank. Inflation, rising energy bills and the looming health and social care tax could leave households worse off even after increases [...]
Unease about economic outlook grows as rising prices fuel stagflation concerns September 20, 2021 The last few weeks has seen equity markets struggle to make gains of any significant size, and all the while concerns have been rising about a number of different factors. The lack of a clear narrative, whether it be positive or negative, has seen markets churn in both directions since July, with any number of [...]
Tax-free savings accounts set to lose thousands as inflation keeps climbing September 17, 2021 The rise in inflation means cash ISAs are set to lose thousands in real terms over the next five years. The average interest rate on a cash ISA rate is currently 0.31 per cent, per the Bank of England on 31 July, while the rate of inflation is now 3.2 per cent. At these rates, [...]
UK inflation soars to 3.2 per cent in record jump September 15, 2021 Inflation rose at the fastest rate since records began last month, new data showed today, though economists warned the jump was likely to be temporary. The Consumer Prices Index rose 3.2 per cent in August, up from 2.0 per cent in July, the single biggest one-month jump since the ONS began publishing the data in [...]
Rising inflation and spike in Covid cases darken German consumer confidence August 27, 2021 The mood among German consumers darkened heading into September, as accelerating inflation and rising Covid-19 cases made them more hesitant to buy, new data showed today. Watch the full report.
UK inflation hits 2.5 per cent in June July 14, 2021 UK inflation jumped again in June, outpacing economists’ expectations to accelerate away from the Bank of England’s target, the Office of National Statistics (ONS) revealed this morning. The Consumer Price Index (CPI) rose to 2.5 per cent last month, its highest level since August 2018, up from 2.1 per cent in May. Analysts had forecast [...]
UK listed companies set for rebound after brutal pandemic hit July 14, 2021 UK listed companies saw a record decline over the course of the Covid-19 pandemic, but recovery is already underway and predicted to rapidly pick up. Investment manager J O Hambro Capital Management today said the pandemic was deeper and more widespread than any other downturn in recent history. The impact of the coronavirus pandemic was [...]
Pandemic: Average household wealth grows for first time during recession since 1940’s July 12, 2021 Britain’s wealth gap continued to widen during the pandemic, with the richest 10 per cent earning £50,000 on average, according to think tank The Resolution foundation. The foundation attributed the increase to rising house prices and a lack of spending opportunities. Jack Leslie, a senior economist at the think tank, said it was rare for [...]