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 [...]
UK fiscal watchdog: Government finances “increasingly exposed” to global shocks July 6, 2021 The boss of the Government’s fiscal watchdog has warned the UK’s public finances are “increasingly exposed.” The Office for Budget Responsibility boss boss Richard Hughes said that two major crises – the global financial crisis in 2008 and the Covid-19 pandemic – had added 20 per cent each to the UK’s debt to GDP ratio. [...]
Shop prices fall faster in June June 30, 2021 The price of goods in UK shops fell at a faster rate in June than in May as businesses sought to maintain momentum in consuming spending, according to data published today. The British Retail Consortium’s Shop Price Index showed shop prices dropped 0.7 per cent annually in June, a faster rate than May’s 0.6 per [...]
UK’s debt risks soaring by over £100bn due to post-pandemic inflation June 29, 2021 The Bank for International Settlements (BIS) today published its annual report today, suggesting that the UK’s post-pandemic debt could rise by over £100bn due to inflation. In its report, the Swiss-based bank set out its outlook for global recovery from the Covid pandemic. Its primary scenario was one of solid recovery but at uneven rates, [...]
Consumer confidence resilient in June despite freedom day delay June 25, 2021 Consumer confidence remained resilient despite a delay to a lifting of the remaining lockdown restrictions in the UK, a closely watched survey has revealed. Data from GfK shows overall consumer confidence remained unchanged over the last month at minus nine in June 2021. But, this is up significantly from minus 30 in June last year. [...]
Bank expects inflation to breach target and shoot above three per cent June 24, 2021 Bank of England expects inflation to breach target and shoot above three per cent
Exclusive: CEO of deVere Group on why Bitcoin bashers have got it all wrong June 24, 2021 Bitcoin and other cryptocurrencies have experienced a major sell-off this week following China’s crackdown on the sector. Around $400bn in value has been wiped from the total digital currency market since Friday, when a major Bitcoin mining hub ordered miners to shut down operations. It followed reports saying that China’s central bank had a meeting [...]
City looks to Bank of England for clues on inflation battle plan June 24, 2021 City looks to Bank of England for clues on inflation battle plan
Before the Bell: UK economy expected to show an April boost June 11, 2021 A rather strange thing happened yesterday after US CPI hit its highest levels since 2008 at 5 per cent and core CPI hit its highest levels since 1992, at 3.8 per cent. US 10 year yields after initially spiking higher, dropped sharply to hit their lowest levels in three months, below 1.44 per cent, as [...]
Global inflation outlook more complicated than polarised debate suggests May 25, 2021 It sometimes feels as there is little more to be said about the outlook for inflation, such has been the volume of ink spilt on the subject in recent weeks. However, much of the discussion has tended to miss important nuances in the situation faced by different countries. So there are several issues worth keeping [...]