Rachel Reeves to meet bank bosses as growth agenda stalls February 10, 2025 Chancellor Rachel Reeves is set to meet top bank bosses this week in the latest attempt to kickstart her growth agenda. The embattled Labour chancellor has reportedly called in top executives at Barclays, Lloyds Banking Group, NatWest and Nationwide, according to Sky News’ Mark Kleinman. This comes as the government’s growth strategy continues to falter. [...]
Bank shareholders eye returns as Barclays and Natwest report February 9, 2025 Shareholders in two of the UK’s biggest banks will be hoping for further returns next week as they shed light on recent trading amid an uncertain economic backdrop. Barclays and NatWest will lead a raft of annual results updates by UK banks, after a recent positive period for the sector. Shares in both firms have [...]
Bank of England Chief Economist: Job on inflation not done yet February 7, 2025 "I think that is a reason for caution, for carefulness in the way we proceed with removing monetary policy restriction and cutting bank rate," Pill said.
Week in Business: Growth hammer blow means Reeves must change course February 7, 2025 If the Chancellor was still on a high from last week’s big growth-focused speech, the Bank of England has just pulled her back down to earth and, for good measure, poured a bucket of cold water over her. This is a time for hard truths and none harder than the hammer-blow fact that the Bank [...]
City split following Bank of England’s interest rate decision February 7, 2025 Analysts are divided about how far and how fast the Bank of England is likely to cut interest rates in the remainder of this year following yesterday’s decision. Rate-setters backed a third 25 basis point rate reduction, which brought the Bank Rate down to an 18-month low of 4.5 per cent. Every member of the [...]
Stagflation: Chancellor Rachel Reeves faces mess of her own making February 7, 2025 The Bank now expects the UK economy to grow 0.7 per cent this year, cut from a previous estimate of 1.5 per cent. Inflation, meanwhile, will hit 3.7 per cent later this year.
Cost-cutting pays dividends at TSB as bank reports record year February 7, 2025 TSB's pretax profit increased to £290.4m, 22 per cent higher than the year before and a record since the bank returned to the high street in 2013.
What the Bank of England interest rate cut means for your money February 6, 2025 Consumers need “careful financial planning in the months ahead” after the Bank of England cut interest rates on Thursday, wealth manager Quilter has warned. Financial planner at Quilter Holly Tomlinson said the 25 basis point cut will be “good news” for borrowers, whilst savers will be stung by lower returns on deposits. Tomlinson said: “Banks [...]
Why the Bank of England slashed its growth forecasts February 6, 2025 The Bank of England delivered Chancellor Rachel Reeves a mixed blessing on Thursday. Alongside cutting interest rates by 25 basis points, Bank officials halved the UK’s expected growth rate in 2025 to 0.7 per cent from a previous estimate of 1.5 per cent. This will come as a blow to Reeves, who has staked her [...]
FTSE 100 surges after Bank of England cuts interest rate February 6, 2025 The FTSE 100 and FTSE 250 surged higher today after the Bank of England moved to cut interest rates to 4.5 per cent in a bid to breathe life into Britain’s ailing economy. All of the Bank’s nine-strong monetary policy committee voted in favour of a reduction in rates, with two members of the group [...]