68 minutes ago European Central Bank cuts interest rates after inflation falls below 2%

ECB cuts key rate by a quarter of a point to 3.25% after annual price growth in the eurozone fell to 1.7%The European Central Bank has cut its headline interest rate by a quarter of a point to 3.25% after inflation in the eurozone fell below its 2% target.ECB policymakers were under pressure to reduce the deposit rate after inflation figures out earlier on Thursday showed annual prices growth in the single-currency bloc had eased in September to 1.7%, down from 2.2% the previous month. Continue reading...

Economics

4 hours ago Eurozone interest rates could be cut today; UK won’t take HS2 phase 2 ‘back off the shelf’ – business live

Rolling coverage of the latest economic and financial newsThe UK government is playing down this morning’s reports that it will reverse Rishi Sunak’s decision to only run the HS2 rail line from London to Birmingham.Asked about reports it will revive HS2 to Crewe (see 8.45am), a DfT spokesperson has said:“We have always said we won’t be taking plans for HS2 phase 2 back off the shelf after the Conservatives took a wrecking ball to the project and allowed costs to spiral completely out of control. “But we are committed to delivering better rail connectivity across the north, as set out in our manifesto. “Transport is an essential part of the Government’s mission to rebuild Britain and grow our economy.”“We delivered organic sales growth, driven by positive real internal growth. Consumer d...

Politics

6 hours ago Eurozone interest rates could be cut today; Uber ‘explored bid for Expedia’ in super

Rolling coverage of the latest economic and financial newsThere’s a flurry of takeover drama in the City this morning.N Brown Group, the online fashion retailer, has agreed to be taken over in a £191m deal, led by its fourth largest shareholder, Joshua Alliance. Continue reading...

Politics

7 hours ago European Central Bank poised to cut rates again as inflation drops below target

The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, is expected to cut borrowing costs once again on Thursday after figures showed inflation across the bloc falling to its lowest level in more than three years and economic growth waning

Economics

30 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