London, and the UK, must seize the opportunity to lead in crypto regulation June 13, 2023 The UK tech sector is doing great in so many ways - it's time it embraces a balanced approach to crypto regulation as one of its main tenets, writes Andrew Griffiths
Bank of England policymaker warns further interest rate hikes ‘cannot be ruled out’ June 12, 2023 Further interest rate rises “cannot be ruled out” amid decades-high inflation in the UK, a Bank of England policymaker said. Jonathan Haskel, writing in The Scotsman, spoke of the “difficult judgments” the Bank has to make to bring inflation down to its two per cent target. The economist, an external member of the seven-person Monetary [...]
London homeowners face ‘grim’ mortgage cost hike of £7,300 if Bank raises rates again June 12, 2023 London homeowners looking to renegotiate their mortgage this year face a whopping £7,300 rise in annual costs as experts warn of the “grim reality” of rising interest rates. The Bank of England is predicted to hike interest rates for the 13th consecutive time this year to 5.5 per cent in efforts to cool soaring inflation, [...]
FTSE 100 close: London markets rise ahead of Fed and ECB decisions this week June 12, 2023 London markets closed higher on Monday ahead of a big week for central banks, with the Fed, European Central Bank (ECB) and Bank of Japan all set for their latest interest rate decision. The capital’s premier index climbed 0.1 per cent to 7,570.69 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned [...]
UK on course to dodge recession but ‘lacklustre’ growth will linger, KPMG says June 12, 2023 The UK will dodge a recession this year but a tight labour market and sticky inflation will choke off growth, according to the latest forecast from KPMG.
Political pressure builds on banks to close gap between savings and mortgage rates June 12, 2023 Banks have been shortchanging customers for nearly a year with the average mortgage rates exceeding savings rates by over three per cent since last July. According to data from Moneyfacts, at the end of last week the average rate on offer for a two year mortgage was 5.87. The average rate on a savings account [...]
Why did HSBC withdraw mortgage deals for new borrowers? June 9, 2023 HSBC has temporarily withdrawn mortgage deals for new borrowers as the turbulence that has engulfed the UK mortgage market over the past few weeks continued. The bank removed products for new residential and buy-to-let products on Thursday, with new more expensive deals becoming available on Monday. HSBC had originally set a deadline of 5pm on [...]
Mark Carney: Ex BoE chief’s Brookfield set to win Network bidding war as £2.2bn offer backed by board June 9, 2023 FTSE 250 Network International has agreed a £2.2bn takeover offer from Canadian private equity giant Brookfield, becoming the latest in a string of listed firms to be taken private. Brookfield, which is headed by former Bank of England governor Mark Carney, will pay 400 pence per share representing a 64 per cent premium to Network’s [...]
UK economy will ‘flatline’ as stubborn inflation and a tight jobs market drag on growth June 8, 2023 Britain remains on course to dodge a recession this year but growth will "flatline" as stubborn inflation and a tight jobs market continue to drag on the economy, according to the latest forecast from the British Chambers of Commerce.
Why I believe the Bank of England’s CBDC consultation amounts to a national scandal June 8, 2023 With some simple research, Susie Violet Ward lays bare the shocking inaccessibility of the Bank of England's CBDC consultation.