London markets post mixed bag as investors mull Bank’s next rate move December 14, 2021 London markets were a mixed bag yesterday as investors mulled the Bank of England’s next move on interest rates. A strong jobs print boosted investor sentiment yesterday morning, lifting the capital’s main indexes. However, the FTSE 100 gave up morning gains to close 0.18 per cent lower at 7,218.64 points, as did the mid-cap FTSE [...]
Crypto adoption in the financial sector poses a risk to the economy – BoE December 14, 2021 A BoE bigwig has warned that the increasing integration of crypto into the established financial sector poses a threat to the economy.
IMF takes swipe at Bank of England over rate inertia amid soaring inflation December 14, 2021 The International Monetary Fund (IMF) today fired a warning shot at the Bank of England, urging the central bank to hike interest rates now to tame runaway inflation. The world’s economic watchdog told the Bank it needs to “withdraw the exceptional support provided during” the Covid-19 crisis or risk facing spiralling inflation. In a stark [...]
Dual threat of Omicron and Plan B to destabilise UK jobs market recovery, warn City economists December 14, 2021 The dual threat of the Omicron variant and strict restrictions on daily life to curb its spread will smash the UK jobs market, City economists warned today. Measures to cut Brits’ social contact in a bid to quash the new coronavirus strain, including being encouraged to work from home, will hit retail, leisure and hospitality [...]
UK businesses resist hiking prices despite cost assault December 14, 2021 UK businesses are swallowing swelling costs in a bid to avoid wiping out demand by hiking prices, reveals fresh research published today. The chasm between the amount it costs firms to produce goods and the price they charge for their products has widened to the largest on record, research by Lloyds Bank found. Soaring costs [...]
Markets suffer losses after Boris Johnson’s Omicron warnings December 13, 2021 The FTSE 100 was flat on Monday amid heightened domestic concerns over the Omicron variant and warnings from Boris Johnson of a 'tidal wave' of cases.
UK banking system able to weather economy shrinking over a third, says BoE December 13, 2021 The UK banking system is able to weather a severe economic storm, according to the Bank of England’s latest examination of the health of Britain’s biggest lenders. The Bank said even in a scenario in which the British economy shrinks over a third and property prices plunge 33 per cent, the banking sector’s core capital [...]
Full blown lockdown would plunge UK economy far below pre-pandemic size December 13, 2021 A full blown lockdown would derail the UK’s economic recovery from the Covid-19 crisis, reveals fresh analysis from City economists. Shutting down the retail, leisure and hospitality sectors will cause the British economy to shrink to six per cent below its pre-pandemic size, according to Pantheon Macroeconomics. Imposing tougher restrictions on businesses that rely on [...]
Private capital must be focused on building an economy as inclusive as it is sustainable December 13, 2021 The financial sector must rise to the challenge of harnessing private capital for public good. The question of how to do it is a pressing one. A new landmark report by the G7 Impact Taskforce – launched today at the Mansion House – will seek to provide an answer in order to drive investment that [...]
UK firms slash borrowing to reduce swelling debt burden December 13, 2021 British businesses are set to slash borrowing this year as firms repay debt to repair the damage inflicted on them by the Covid-19 crisis, according to a new report released today. A return to normal patterns of economic activity after the disruption caused by the pandemic will drive a sharp pull back in business borrowing, [...]