By: Mauricio Alencar

Politics and Economics Reporter Maurício Alencar is City AM’s Politics and Economics Reporter. He covers the state's relationship with the City of London and UK business, jumping between Westminster and the Square Mile. He picks up all stories on UK economics data ranging from inflation to immigration, as well as the Bank of England, the Treasury, business surveys, and all stories important or interesting to the decision-makers. He used to cover sports, foreign news and home news at various publications – plus investigations, which he plans to continue to pursue.

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Burnham turns to ex-OBR and Bank of England chiefs on economic policy

June 19, 2026

Andy Burnham has turned to a crop of heavyweight economic advisers, including a former Bank of England economist and the ex-head of the Office for Budget Responsibility, in a bid to bolster his economic credentials ahead of a potential Labour leadership challenge, it has been reported. The new MP for Makerfield has sought advice from [...]
UK government borrowing overshoots expectations on day Burnham elected

June 19, 2026

UK government borrowing jumped higher than expected than expected in May, official data has shown, with Andy Burnham’s win in Makerfield now setting up a potential shift in public finance forecasts. The Office for National Statistics said the government’s net borrowing was £23.2bn in May, above economists’ £19bn prediction. Further government borrowing came as debt [...]
As it happened: Pound dips and stocks slip as Andy Burnham victory triggers political uncertainty

June 19, 2026

Good morning from the City AM liveblog team. Andy Burnham has secured his place in the House of Commons after a decisive by-election win in Makerfield overnight, with 54.8 per cent of the vote, well ahead of Reform’s 34.5 per cent. Top of Burnham’s to-do list is triggering a leadership challenge inside the Labour party, [...]
Bank of England to ‘tolerate slow return’ to inflation target as interest rates held

June 18, 2026

The Bank of England has said it will tolerate a delay in getting inflation back to its two per cent target as it held interest rates at 3.75 per cent in a split Monetary Policy Committee (MPC) decision. Bank officials said they were closely monitoring the outcome of a peace deal being struck between the [...]
Job vacancies fall again in unemployment risk

June 18, 2026

Job vacancies available across the UK dropped again, official data revealed, posing a further risk for Britons out of work. The Office for National Statistics said the number of job vacancies fell by 19,000 between March and May. The unemployment rate dropped to 4.9 per cent per cent compared to five per cent in data [...]
As it happened: Stocks sink after Fed and Bank of England opt for hawkish hold; Oil price tumbles

June 18, 2026

Welcome back to the City AM liveblog. Interest rates were left unchanged at 3.75 per cent in Bank of England’s monetary policy committee meeting today as rate-setters wait to find out whether the Iran war peace deal holds up. The Bank’s decision followed Thursday’s inflation data, which stayed below undershot expectations after coming at 2.8 [...]
Interest rates next change ‘far more likely down than up’

June 18, 2026

Interest rates are set to be held on Thursday in what some analysts believe could be a split decision as two Bank of England officials could back a 25 basis point hike. The Bank’s Monetary Policy Committee is widely expected to leave interest rates unchanged at 3.75 per cent, though some members could back a [...]
City investors raise alarm on Burnham’s Chancellor pick

June 18, 2026

Andy Burnham’s bid to return to parliament poses a risk to financial markets, City analysts have warned, as his next pick as Chancellor could heavily sway traders’ views. City analysts have said they will be closely watching out for developments on Friday as results from the Makerfield by-election emerge in the early hours of the [...]
Kemi Badenoch pledges to wield the axe on post-financial crisis banking regulation

June 18, 2026

Kemi Badenoch will today step up her efforts to woo the City as she promises to wield the axe on post-financial crisis banking regulation if she manages to clinch the keys to Number 10. “London is having its lunch eaten” by overregulation, the Tory leader will proclaim as she proposes a shakeup of the financial regime that she hopes [...]
War bonds to lift defence spending ruled out

June 17, 2026

Sir Keir Starmer has ruled out issuing defence bonds to fund an uplift in spending as a spokesperson said it was “just another form of borrowing”. In his absence at Prime Minister’s Questions, Starmer’s deputy David Lammy appeared to open the door to defence bonds being created to fund a rise in spending. The Liberal [...]

El Nino heatwaves to ‘fuel inflation next year’

Champions Cup rugby team hacked in ransom attack with player data at risk

A tribute to wine legend Matthew Jukes by his friend Libby Brodie

By: Mauricio Alencar

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