Wall Street drifts after Bank of England hikes interest rates again June 23, 2023 Stocks drifted to a mixed finish on Wall Street on Thursday as central banks around the world keep cranking interest rates higher in their fight against inflation. The S&P 500 rose 16.20 points, or 0.4per cent , to 4,381.89, even though the majority of stocks fell. A rebound for technology stocks helped to overshadow losses [...]
Soaring inflation forces Brits to tighten belts on groceries as summer clothes, DIY and fuel sales pick up June 23, 2023 Brits are still splashing the cash amid soaring inflation, with retail sales estimated to have increased by 0.3 per cent last month off the back of non-food splurging. The main driver of sales was online, with non-store selling volumes up by 2.3 per cent, while food store sales were down by half of one per [...]
It was do or die for Andrew Bailey and the Bank of England – in the end, there was no choice June 23, 2023 When it came down to it, there was no choice. Inflation stuck at just below nine per cent. Unforgiving buried price pressures. Businesses rebuilding profits. Workers with no choice but to demand more money. These are the characteristics of an economy stuck in stagflation. The Bank of England had to take drastic measures. Yesterday’s interest [...]
There may be mortgage pain, but these bankers say rates hikes could boost the City June 22, 2023 Numis says the higher cost of capital could scupper private equity takeovers and boost the IPO market
Explainer: Not the best time to be a university student in the UK June 22, 2023 It hasn’t been a very cheerful week in the world of economic news. Today the Bank of England raised interest rates for the thirteenth time in a row. Mortgage payments keep on going up, as rates continue to rise. Everyone is affected – families, individuals young and old, and students too. It’s not surprising then [...]
Bank of England hikes interest rates by 50 points to five per cent after inflation shock June 22, 2023 The Bank of England today reverted to steeper interest rate rises in a sign that embattled Governor Andrew Bailey and co have been spooked by much tougher than feared inflation. Bailey and the rest of the monetary policy committee (MPC) – the nine-strong group who set official interest rates in Britain – backed a 50 [...]
Credit fears send bank shares lower after Bank of England lifts rates by 50bps June 22, 2023 Shares in the UK’s biggest banks today fell after the Bank of England raised interest rates by 50 basis points, heaping more pain onto borrowers. The Bank’s Monetary Policy Committee reverted to a larger rate hike after inflation remained stuck at 8.7 per cent last month. It was the 13th rate hike in a row [...]
FTSE 100 close: Bank of England interest hike piles more pain on markets June 22, 2023 The much scrutinised Bank of England’s interest rate hike by half a point to five percentage points today, piled the pressure on London markets. London opened far lower in anticipation of the rate hike and continued in the red following the announcement, which marked the 13th straight rise from the bank and took interest rates [...]
Andrew Bailey under fire from Government and City analysts ahead of rate hike June 22, 2023 Andrew Bailey and the Bank of England have been criticised for moving too slowly to clamp down on inflation
Happening today: All you need to know as the Bank of England set to raise rates again June 22, 2023 The Bank of England is poised to raise interest rates for the 13th time in a row after disappointing inflation figures showed price rises have not eased. The UK’s Consumer Prices Index (CPI) was unchanged in May at a rate of 8.7 per cent , according to the Office for National Statistics. It came in [...]