Cost of living crunch bites Brits’ optimism February 8, 2022 Fears over a sharp erosion in living standards driven by the cost of living crunch is weighing on Brits’ confidence levels, reveals a fresh survey published today. Consumer confidence in the UK dipped to its lowest level in 11 months last month, according to research by Bank of America. Concerns over inflation hitting household budgets [...]
Cost of living crunch already hitting consumer spending even before inflation peaks February 8, 2022 The cost of living crunch is prompting Britons to rein in spending even before inflation reaches its expected summit this spring, reveals new research published today. An erosion in household budgets triggered by inflation hitting its highest level in nearly three decades weighed on consumer spending last month, according to figures from Barclaycard. UK spending [...]
Bank of England has undercooked inflation forecasts again, City economists warn February 7, 2022 The Bank of England has undercooked its forecasts for inflation again in a sign the cost of living squeeze will get worse before it gets better, reveals new estimates from City economists. Inflation will peak at 7.5 per cent in April, higher than the Bank’s expected peak of 7.25 per cent in its latest forecasts, [...]
Bailey should leave the commentary to the commentators February 6, 2022 It used to be said that the Governor of the Bank of England could keep the City of London on an even keel with the slightest flicker of an eyebrow. Andrew Bailey took a different tack last week – raising the entire nation’s eyebrows with a somewhat ill-advised suggestion to the nation’s workers that they [...]
Top economist says Bank of England’s failure to tackle inflation quickly will worsen cost-of-living crisis February 6, 2022 One of Britain’s top economists has accused the Bank of England’s of failing to act quickly enough to stop inflation from worsening the cost-of-living crisis. Gerard Lyons, a former economic advisor to both Gordon Brown and Boris Johnson, accused Bank of England Governor Andrew Bailey of failing to “nip inflation in the bud” and taking [...]
Khan urges government to ‘get a grip’ on cost of living crisis February 5, 2022 Mayor of London Sadiq Khan has called on the government to “get a grip” on the cost of living crisis, after energy prices were confirmed to rise by £700 this year. A new energy price cap coming into effect in April will see customers paying an average of £700 more a year. With runaway inflation, [...]
Boris Johnson lashes out at Bank of England governor Andrew Bailey: Do not show pay restraint February 5, 2022 Downing Street stressed this afternoon Boris Johnson fiercely disagreed with Bank of England Governor Andrew Bailey over his call for workers to show “restraint” over pay rises amid high inflation. The Prime Minister’s official spokesman said: “It’s not something that the Prime Minister is calling for. We obviously want a high-growth economy and we want [...]
London markets deflate following interest rate hike February 4, 2022 London markets have contracted a day after the Bank of England pushed ahead with interest rate hikes at successive meetings for the first time since 2004.
The ship’s taking on water, but Bitcoin could be the lifeboat we all need February 4, 2022 Jason Deane rounds up the crypto week, but has stark warnings over what lies ahead for UK wages.
BoE boss Bailey calls for wage restraint to control inflation February 4, 2022 Bank of England governor Andrew Bailey said inflation risked getting out of control without restraint on pay rises.