Bank of England publishes list of questions asked by suitors for its CBDC wallet January 4, 2023 The Bank of England has revealed more than 70 questions asked by applicants keen to win the contract create a wallet for its CBDC project.
Crypto horse bolted well before US regulators’ warning shot, analysts say January 4, 2023 Crypto analysts warned that US regulators may be trying to “shut the stable door after the horse has bolted” today after the US central bank and financial watchdogs sounded the alarm over the risks that cryptocurrencies could pose to mainstream lenders. The Federal Reserve, alongside the Federal Deposit Insurance Corporation and the Office of the [...]
Experts predict house prices will fall in 2023 – but it’s not all bad news for homeowners January 4, 2023 Homeowners can expect to see house prices fall this year by as much as six per cent over the year, according to a leading property association. The boss of the National Association of Property buyer Jonathan Rolande does though expect activity and demand to pick up in the summer months. ““This will negate some of [...]
Mortgage approvals collapse to early Covid-19 crisis levels after mini-budget chaos January 4, 2023 Mortgage approvals in the UK have skidded to their lowest level since the early days of the Covid-19 crisis, pushed down by prospective buyers retreating after Liz Truss’s botched mini-budget sent interest rates flying, official figures out today show. The number of mortgage approvals tumbled a fifth over the month to November to their lowest [...]
British factories yanked into recession by inflation, energy costs and wilting demand January 3, 2023 British factories are being yanked into recession by inflation, swelling costs and stumbling demand in a further sign the country is now in the early stages of a tough slump, a closely watched survey out today reveals. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) final purchasing managers’ index (PMI) for the [...]
Year Ahead: Squeeze on household incomes to intensify as tough recession will dominate 2023 January 3, 2023 2023 is expected to be an exceptionally tough year for the UK economy. The country is almost certainly already in a year-long recession, one that will probably prove to be deeper than that experienced in the early 1990s. The squeeze on household real incomes will intensify as rising interest rates join soaring inflation. Admittedly, the [...]
Amid a recession and a cost of living crisis, there are still reasons to be cheerful on the economy January 3, 2023 A recession and a cost of living crisis will dominate the headlines, but it's not all bad news for the UK economy, writes City A.M. economics correspondent Jack Barnett
House prices: First-time buyers fell last year – and crash may not be as drastic as predicted January 3, 2023 A predicted fall in house prices may do little to change the prospects for first-time buyers in London The number of first-time buyers is estimated to have fallen by around nine per cent in 2022, according to analysis by a building society. Across the UK, the number of people taking their first step onto the [...]
Inflation surge reshapes Brits’ spending, but so does end of Covid-19 curbs December 30, 2022 Inflation reaching a 41-year high. Interest rates back to 2008 levels. Mortgage costs up substantially. It’s been a tough year for the Great British consumer. Income growth has failed to keep pace with what was a 11.1 per cent cost of living peak, meaning households have been forced to cut back to protect their finances. [...]
AI and risk management: Are financial services future-proof? December 30, 2022 Emre Kazim, Ashyana-Jasmine Kachra and Ayesha Gulley of Holistic AI look at how to steer around the risks of AI adoption.