Andrew Bailey: Inflation has fallen ‘faster than expected’ October 24, 2024 Andrew Bailey, Governor of the Bank of England, said inflation has fallen “faster than we expected” but still warned that more progress would be needed on services inflation. Speaking at a meeting of Institute of International Finance in Washington, Bailey said central banks around the world were seeing a “good story” on inflation. “Disinflation — [...]
Barclays shares hit nine-year high as investment bank helps profit beat forecasts October 24, 2024 Barclays' shares have hit their highest level in nine years after a rebound in investment banking helped its profit beat expectations for the third quarter.
UK economy downgraded on consumer spending worries October 24, 2024 The Big Four firm predicted that the UK would grow 0.9 per cent this year, down from the 1.1 per cent expansion it projected this summer.
Government bows to Uefa pressure over Football Regulator foreign policy veto October 23, 2024 The requirement for the incoming Football Regulator to consider government foreign policy in club takeovers has been dropped from the new Football Governance Bill, which will be reintroduced to Westminster today. The Bill, formulated under the previous government but not ratified in time for the election, will enter the House of Lords today in a [...]
Column: Water, water everywhere… October 23, 2024 Or why the latest twist in the sewage tale suggests a rebalancing of Labour’s priorities England’s water system made a splash again this week, hitting the headlines as the government announced their latest move to – as they put it – clean up the industry. An independent review, led by none other than the former [...]
Budget borrowing will slow Bank of England rate cuts, economists warn October 23, 2024 Chancellor Rachel Reeves is hoping to raise £40bn in next week's Budget to help fund higher spending on public services. This will largely come through higher taxes.
Lloyds Bank: Lender beats profit estimates as consumers prove resilient October 23, 2024 Lloyds Banking Group has beaten profit estimates as the lender set aside less than expected for souring loans and saw improved consumer confidence.
Scrapping Ofwat could be considered by new water sector commission October 22, 2024 Scrapping watchdog Ofwat could be considered by a new independent commission on the water sector as ministers aim to attract investment into the industry. Ministers have launched the largest review of the sector since it was privatised, with the commission set to be chaired by former deputy Bank of England Governor Sir Jon Cunliffe. It [...]
Andrew Bailey: Regulators must not be complacent on shadow banking threat October 22, 2024 Andrew Bailey, Governor of the Bank of England, warned regulators need more tools to deal with threats to financial stability today as he sounded the alarm on the “opaque” nature of the ‘shadow banking’ sector. In a speech at Bloomberg’s Global Regulatory Forum in New York, Bailey drew attention to the systemic risks posed by [...]
Bank of England to cut interest rates to 2.75 per cent, Goldman predicts October 21, 2024 The US investment bank argued that Bank Rate would fall to as low as 2.75 per cent by November next year, whereas it had previously expected the terminal rate to be three per cent.