Jeremy Hunt: Tax cuts ‘virtually impossible’ until economy improves Hunt Chancellor Jeremy Hunt has shot down suggestions of tax cuts after a string of economic updates this week, saying they’re “virtually impossible” until there’s more improvement. Speaking on LBC this morning, the chancellor responded to suggestions that falling inflation and rates being held yesterday, may give headroom to ease the burden on cash-strapped Brits this [...]
Bank of England: Have interest rates hit their peak? ECONOMICS Economists think rates are at their peak after the Bank of England decided to leave rates unchanged for the first time in nearly two years.
Bank of England leaves interest rates on hold after August inflation surprise Bank of England The Bank of England hiked interest rates by 25 basis points.
FTSE 100 close: London markets rise after inflation surprise raises prospect of rates being left on hold September 20, 2023 The FTSE 100 climbed 0.6 per cent to trade at 7,705.34 while the FTSE 250 rose 1.2 per cent to hit 18,655.75.
Interest rates: Will Bank of England hike or hold after inflation surprise? September 20, 2023 Inflation saw a surprise fall in August, complicating the Bank of England's decision to hike or hold interest rates
Surprise fall in inflation leaves Bank of England rates decision on knife-edge September 20, 2023 Inflation fell unexpectedly in August as falling food inflation helped offset rising energy costs, official data out today shows. According to figures from the Office for National Statistics (ONS) the consumer price index (CPI) came in at 6.7 per cent in August, down marginally from 6.8 per cent in July and lower than the roughly [...]
Pay growth slows again even as public sector awards hit record annual levels September 20, 2023 "This month’s data reinforces the XpertHR view that we have reached the peak of higher pay awards, and for the remainder of the year we can expect settlements and increases in pay to slowly begin to fall," Sheila Attwood, XpertHR senior content manager, said.
UK set for stubborn inflation and slow growth, OECD warns September 19, 2023 Inflation in the UK will be higher than previously expected next year while growth will be lower, according to cheerful new forecasts from the Organisation for Economic Co-operation and Development (OECD).
Till sales surge as retailers boosted by sunny September and back to school deals September 19, 2023 A bout of unusually hot weather in early September helped hike grocery sales at UK supermarkets, with total till sales surging 10.3 per cent in the last four weeks ending 9 September. According to data from NIQ, the figure rose up from 7.2 per cent during the wet July and early August, which deterred shoppers [...]
Stubborn inflation poses risks to financial stability, central bank watchdog warns September 18, 2023 Markets should not fall into the trap of thinking that inflation is decisively on its way down, the Bank of International Settlements has warned.