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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Interest rates likely to remain higher for longer

August 8, 2025

Markets are indicating interest rates are set to stay higher for longer than expected after the Bank of England’s “hawkish cut” and gloomy inflation and growth forecasts shocked City analysts. Prior to the Bank’s interest rate cuts, markets had all but priced in a further 25 basis point cut by the end of the year, [...]
Bank of England: Future of interest rate cuts now ‘more uncertain’

August 7, 2025

The future of interest rate cuts is now “more uncertain” as the Bank of England suggested it was more worried about inflation ticking up higher than expected. In its decision on Thursday, the Bank voted 5-4 for interest rates to be cut by 25 basis points to four per cent. But the Bank now believes [...]
Bank of England cuts interest rates in historic vote

August 7, 2025

The Bank of England has cut interest rates to four per cent in an unprecedented double vote as Monetary Policy Committee members clashed on the impacts of a crumbling jobs market and higher food prices. Monetary Policy Committee (MPC) members were told to vote a second time after four members voting for a 25 basis [...]
Starmer refuses to rule out tax rises – and criticises forecasters

August 6, 2025

The Prime Minister has refused to comment on whether he will break Labour’s manifesto pledges on taxes at this year’s Autumn Budget as he slapped down independent forecasters’ claims the government faced a £50bn black hole. The National Institute of Economic and Social Research (NIESR) claimed Rachel Reeves would miss her borrowing target by £41.2bn [...]
Trump hikes India tariffs to 50 per cent for fuelling Russian ‘war machine’

August 6, 2025

President Donald Trump has imposed an additional 25 per cent tariff on India after the country’s government imported Russian Federation Oil. In an executive order signed on Wednesday, the White House said it would slap Indian imports with the fresh levy taking their overall rate to 50 per cent. The President warned on Tuesday he [...]
Construction sector contracts at the fastest pace since 2020

August 6, 2025

Activity in the UK’s construction industry is contracting at the fastest rate since the coronavirus pandemic in 2020 as high costs and tax hikes bite. The sector is vital for the Labour government’s plans for a house building boom and improvements in infrastructure, with the private sector expected to help boost the UK’s economic growth. [...]
The Bank of England’s trouble-free decision to cut interest rates

August 6, 2025

The Bank of England has long suffered from the accusation of groupthink. Reforms have been mooted – and some have been implemented – but it has struggled to shake off the charge. Economists at the Cato Institute and the National Institute of Economic and Social Research (NIESR) have, for example, pointed the blame at Threadneedle [...]
Rachel Reeves needs £50bn tax raid to stick to fiscal rules, economists warn

August 6, 2025

The Treasury will need to raise more than £50bn in fresh taxes to stay within its fiscal rules, one of the UK’s most prestigious economic groups has warned, laying bare the scale of the pain that could be wrought on businesses by Rachel Reeves in the autumn. The government is set to miss its “stability [...]
Labour urged to come clean on exit tax

August 5, 2025

Labour ministers have been urged to clarify whether the government will introduce an exit tax as Tax Policy Associates chief Dan Neidle warned rumours could be “damaging” for the UK economy. Chancellor Rachel Reeves looks poised to raise more than £20bn in taxes later this year amid a shortfall in the fiscal headroom left by [...]
UK economy sees fastest services orders slowdown since Liz Truss

August 5, 2025

Hopes of a quick recovery to the UK economy are fading as orders in the services sector fell at the fastest rate since Liz Truss’ mini-budget in late 2022, fresh data has suggested. S&P Global’s latest composite purchasing managers’ index (PMI) showed a fall from a score of 52 in June to 51.5, which remains [...]

Miliband would be ‘disaster’ as Chancellor, says Labour cost of living chief

Women’s rugby in England is way ahead, and the RFU deserves credit

I recreated all my favourite TV tropes, from crawling through pipes to being two kids in a trenchcoat

By: Mauricio Alencar

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