OBR downgrades UK growth prospects as higher interest rates bite November 22, 2023 The Office for Budget Responsibility (OBR) has downgraded its growth forecasts for the UK economy over the next couple of years as higher interest rates bite.
Autumn Statement: Five things to look out for, from rabbits and taxes to pubs and cuts November 22, 2023 Chancellor Jeremy Hunt will today unveil the Autumn Statement. City A.M. has broken down our top five things to watch out for.
City is ‘paying too much attention’ to inflation data, says bank governor November 22, 2023 The Bank of England governor Andrew Bailey further confused the City on the future path of interest rates.
Markets ‘underestimating’ the risks on inflation, Bank of England warns November 21, 2023 Four members of the Bank's MPC agreed that there were clear risks that inflation could remain elevated despite the sharp fall in October.
Savings rates fall for first time in more than two years as banks slash deals November 21, 2023 Fixed savings rates have fallen across the board for the first time in more than two years, according to new data, as inflation cools and the Bank of England hold interest rates.
UK borrows more than expected ahead of Autumn Statement as tax cuts mooted November 21, 2023 The government borrowed more than expected in October, providing a “timely reminder” about the state of the UK’s fiscal position ahead of the Autumn Statement. According to figures from the Office for National Statistics, the government borrowed £14.9bn in October, £1.2bn more than had been pencilled in by the Office for Budget Responsibility (OBR). This [...]
Reasons to be cheerful? Why the UK could dodge a recession November 21, 2023 After the most recent GDP figures for the third quarter, it is all but certain that the UK will avoid a contraction this year. So are there still reasons to be optimistic about the UK's performance over the coming months?
Wage growth nudges higher — what does this mean for the Bank’s war on inflation? November 21, 2023 Pay awards have picked up again in the last three months thanks to higher pay packets from the public sector, complicating the path to potential interest rate cuts.
Bailey: ‘Far too early’ to talk about cutting interest rates despite ‘welcome news’ on inflation November 21, 2023 Andrew Bailey, governor of the Bank of England, stressed that it is still "far too early" to consider interest rate cuts despite the recent "welcome news" on inflation.
Rumours of Ethereum fraud ‘bigger than FTX’? Where’s Brenda from Bristol when we need her? November 20, 2023 Lawyer Charlotte Tregunna hopes legislation coupled with a robust regulatory regime will save the reputation of crypto.