7 hours ago Odds of November interest rate cut jump as UK inflation drops to 1.7% – business live

UK inflation drops below 2% target in September, weakening pound and raising chances of an interest rate cut in NovemberToday’s report shows that prices in the UK are rising a little slower than in Germany (where inflation was 1.8% on an EU-harmonised basis), but faster than in France (where harmonised CPI was just 1.5%).With inflation firmly below the Bank of England’s 2% target, policymakers could potentially cut interest rates at their final two meetings of 2024.“For the first time in more than three years inflation is back below the Bank of England’s 2% target. With inflation falling below this level and the pace of wage growth slowing, the conditions appear ripe for another rate cut at the Bank of England’s next decision in early November, and maybe even the one after in December t...

Economics

15 hours ago Troubled Boeing signals it may raise up to $25 billion to shore up finances

Boeing is moving toward raising up to $25 billion to shore up its troubled financial position

Economics

17 hours ago IMF warns global government debt will hit $100 TRILLION this year with Britain told it must act fast

The International Monetary Fund's projections see global debt reaching 93% of gross domestic product by the end of this year and 100% by 2030.

Events

27 hours ago Global public debt to hit $100tn this year, says IMF; oil price slumps – business live

Rolling coverage of the latest economic and financial news, as IMF warns that future debt levels could be higher than currently projectedCooling labour market adds to Reeves’s tax-raising dilemmaTwice as many people are out of work sick than are officially unemployed, says Dr Helen Gray, chief economist of Learning and Work Institute:This month’s data show that the number of people economically inactive due to long-term sickness remains elevated, at 2.8 million – double the number of people who are unemployed.This highlights the need for the forthcoming White Paper on the Plan to Get Britain Working to focus on joining up work, skills and health, and providing support to the 9-in-10 out-of-work disabled people each year who do not currently receive help to find work.“I think it’s a sign...

Economics

30 hours ago Economists predict November cut to UK interest rates after wage growth hits two

Rolling coverage of the latest economic and financial news, as regular pay growth hits a two-year low and the oil price falls 4%Cooling labour market adds to Reeves’s tax-raising dilemmaTwice as many people are out of work sick than are officially unemployed, says Dr Helen Gray, chief economist of Learning and Work Institute:This month’s data show that the number of people economically inactive due to long-term sickness remains elevated, at 2.8 million – double the number of people who are unemployed.This highlights the need for the forthcoming White Paper on the Plan to Get Britain Working to focus on joining up work, skills and health, and providing support to the 9-in-10 out-of-work disabled people each year who do not currently receive help to find work.“I think it’s a sign of the d...

Events

31 hours ago Economists predict November cut to UK interest rates after wage growth slows – business live

Rolling coverage of the latest economic and financial news, as regular pay growth hits a two-year lowSusannah Streeter, head of money and markets at Hargreaves Lansdown, suggests the Bank of England might squeeze in two interest rate cuts this year, at its two remaining meetings in November and December:“Worrisome wage growth is in retreat, lifting expectations that borrowing costs will soon fall further. The rate of increase in average earnings (including bonuses) has fallen to 3.8%, a hugely significant drop given how pay growth had raced away in recent years.Although there had been forecasts for an even steeper fall, and wages are still beating inflation, this will still assuage concerns among policymakers about the risk that consumer price rises will pop back up into troublesome ter...

Economics