US Fed’s preferred inflation metric set to validate jumbo rate cut September 22, 2024 Crucial US inflation data is poised to back up the Federal Reserve's jumbo interest rate cut as investors question where other central banks will follow in its footsteps.
UK economy: After a busy week, the foundations look solid September 20, 2024 With inflation low and further rate cuts to come the UK economy remains on relatively solid foundations.
Bank of England’s Mann warns of ’embedded’ UK inflation risk after decision to hold September 20, 2024 "Structural behaviours in UK labour and product markets appear to have systematically embedded inflation," she said in a speech in Lithuania.
Two-year mortgage rates fall as markets brace for future interest rate cuts September 20, 2024 Two-year mortgage deals are becoming increasingly competitive as rates continue to fall faster than longer-term deals.
Retail sales smash expectations despite a drop in consumer confidence September 20, 2024 Retail sales in the UK blew past expectations in August, climbing to their highest level since July 2022, according to the Office for National Statistics (ONS). Sales were up one per cent compared to the previous month, beating analysts’ predictions of a 0.4 per cent rise. The increase builds on July’s return to growth, which [...]
Government borrowing jumps as threat of tax hikes grows September 20, 2024 The figures come just over a month before Rachel Reeves delivers her first Budget as Chancellor.
Consumer confidence sinks as Brits ‘nervously await’ Budget September 20, 2024 Key future indicators of consumer confidence all sharply fell in September as Brits nervously awaited policy announcements in the Autumn Budget, according to fresh data. GfK’s long-running consumer confidence index fell sharply to -20 in September overall, with all measures – including personal finances, economy and purchase intentions – down month-on-month. “Headline consumer confidence has… [...]
Hawkish Bank of England? Don’t be so sure. September 19, 2024 "The economy has been evolving broadly as we expected," Bailey said. "If that continues, we should be able to reduce rates gradually over time".
Bank of England holds interest rates but Andrew Bailey flags further cuts September 19, 2024 The Bank's decision comes after the Fed reduced interest rates by 50 basis points last night, the first cut since the pandemic.
FTSE 100 remains in the green after Bank of England holds rates September 19, 2024 Traders had been concerned that the Fed had waited too long to cut interest rates, causing unnecessary damage to the US economy.