Backing the central bank pivot is a risky bet October 25, 2022 It is easy to criticise central banks for heaping pain on households and businesses. But, this is exactly what they are supposed to do under current economic conditions. Inflation in the UK, US and eurozone has hit 10.1 per cent, 8.2 per cent and 9.9 per cent respectively, all historic highs. The Bank of England [...]
The UK now has a crypto-friendly Prime Minister in Rishi Sunak October 24, 2022 Despite the economic gloom, crypto investors are going to be cheered by the arrival of Sunak at Number 10, says Nigel Green.
Analysis: This shapeshifting inflation surge ain’t over yet October 19, 2022 Today’s inflation figures may have caused a few chairs to be flung at walls in the Bank of England. Prices are up 10.1 per cent over the year to September, above the City’s expectations and up from August. They were in line with the Bank’s forecasts though, a genuine rarity. Remember, the central bank has [...]
London’s FTSE 100 bags gains as rate sensitive stocks kick higher October 13, 2022 London’s FTSE 100 notched gains yesterday driven by stocks exposed to interest rates receiving a boost from reports the government will roll back some of the mini-budget. The capital’s premier index jumped 0.35 per cent to 6,850.27 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
UK economy on recession cliff edge as GDP unexpectedly shrinks October 12, 2022 The UK is staring over a recession cliff edge, caused by soaring inflation and rising interest rates, that will be lengthened by turmoil in financial markets, official figures published today revealed. The economy unexpectedly shrank 0.3 per cent over the month to August, according to the Office for National Statistics (ONS). Economists had expected gross [...]
Housebuilder Barratt warns volatility is clouding outlook October 12, 2022 Housebuilder Barratt Developments warned that economic volatility was clouding the picture for the year ahead today but doubled down on profit targets for the remainder of the year.
LendInvest warns of mortgage volatility as it ‘tightens credit appetite’ October 10, 2022 Mortgage fintech LendInvest said it was tightening its “credit appetite” today as it grapples with the volatility that has shaken the market in the wake of the government's so-called mini-budget.
EXCLUSIVE: Starmer sounds alarm on house price ‘shocks’ as mortgage rates rise October 6, 2022 Sir Keir Starmer has warned about potential housing price “shocks” across the UK in the wake of dramatic mortgage rate rises. The Labour leader today told City A.M. there’s “no market confidence” in the government and that “we are going to see these shocks in mortgages and housing as a direct result of it”. Starmer [...]
Construction firms clear backlogs before downturn hits October 6, 2022 Construction firms are clearing a huge backlog of work, but the sector is on course to shrivel in the coming months as it is whacked by soaring interest rates, a closely watched survey published today. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) purchasing managers’ index (PMI) for the construction industry swung [...]
Truss and Kwarteng mini-budget to ‘deepen’ UK recession October 4, 2022 Liz Truss and Kwasi Kwarteng’s decision to slash taxes and ramp up borrowing without costing their plans will make the looming UK recession worse, City economists predicted today. Soaring mortgage rates driven by lenders passing on higher market yields pushed up by a lack of confidence in prime minister Liz Truss and chancellor Kwasi Kwarteng’s [...]