BoE boss Bailey calls for wage restraint to control inflation February 4, 2022 Bank of England governor Andrew Bailey said inflation risked getting out of control without restraint on pay rises.
Optimism fades for Upper Crust owner SSP as sales slide February 4, 2022 After a promising start to the new financial year Upper crust owner SSP has revealed sales are slipping back.
Editorial: This really isn’t that complicated: Less fiddling, lower taxes February 4, 2022 As the calendar flipped over to 2022, we asked on our front page – could it really be a happy new year? In truth we should have seen the bad news, delivered yesterday in a double whammy by the energy regulator and the Bank of England, coming. A combination of wholesale gas prices spiking, an [...]
Cost of living crunch to derail UK economy in bruising day for living standards February 3, 2022 A double whammy of bad news today laid bare the scale of the blow the cost of living crisis will deal the British economic recovery, with the energy price cap set to spike by 54 per cent and GDP forecasts slashed by the Bank of England. Ratesetters at Threadneedle Street hiked the interest rate to [...]
London markets register sobering day as Bank of England rate hike spooks investors February 3, 2022 London markets dropped sharply yesterday after investors were spooked by the Bank of England hiking interest rates at successive meetings for the first time since 2004. The capital’s premier FTSE 100 index closed 0.71 per cent lower at 7,528.84 points, while the domestically-focused FTSE 250, which is more aligned with the health of the UK [...]
Brits should brace for further rate hikes from Bank of England, City economists warn February 3, 2022 Households should brace for further rate hikes from the Bank of England this year as it steps “up its fight against inflation”. The Bank will rapidly pivot policy toward getting on top of Britain’s cost of living crunch, City economists are betting after today’s decision to raise rates at back-to-back meetings for the first time [...]
ECB leaves rates untouched despite record high inflation February 3, 2022 The European Central Bank (ECB) yesterday left interest rates unchanged despite inflation on the Continent running at its highest level ever. The ECB’s decision to leave rates in negative territory was taken despite president, Christine Lagarge, warning the cost of living in the bloc could rise even further. Europe’s central bank’s inertia runs against the [...]
Pubs face inflationary costs of over 10 per cent as bosses call for tax relief February 3, 2022 Pubs are facing inflationary business costs of more than 10 per cent as publicans battle spiralling energy and labour costs. More than two in three pubs told an industry survey they were facing such substantial cost increases. Venues are facing skyrocketing energy bills while a labour crunch has seen wages of bartenders and chefs leap [...]
UK services inflation accelerates at record pace as cost of living squeeze intensifies February 3, 2022 UK businesses are raising prices at the fastest rate on record as Brits prepare for a once-in-a generation cost of living squeeze, reveals a closely watched survey published today. Prices for products produced by services businesses, including pubs, restaurants and bars, rose at the quickest pace since 1996, according to IHS Markit. Soaring raw material [...]
Borrowers ‘needn’t panic just yet’ after interest rates hike February 3, 2022 Real estate experts have said a rise in interest rates is “unlikely to dampen motivation to move” despite warnings that the news signals higher mortgage costs down the line. The Bank of England has hiked rates at successive meetings for the first time since 2004, with a majority of the Bank’s rate setters voting to [...]