4 h. ago UK interest rates expected to remain on hold; rate cuts in Norway, Switzerland and the Philippines – business live

Central bankers warn that trade war worries, and conflict in the Middle East, could hurt growthNewsflash: We have a third interest rate cut this morning!Norway’s central bank has surprised analysts by cutting its policy rate by a quarter of one percentage point, to 4.25%. The rate had been set at 4.5% since December 2023.“Inflation has declined since the monetary policy meeting in March, and the inflation outlook for the coming year indicates lower inflation than previously expected.A cautious normalisation of the policy rate will pave the way for inflation to return to target without restricting the economy more than necessary.”“The uncertainty surrounding the economic outlook is now greater than normal. If the economy takes a different path than currently envisaged, the policy rate path may be adjusted. But our objectives stand firm. We will finish the job and ensure that inflation is brought all the way back to 2 percent.”The Monetary Board also noted indications of a deceleratio...

Politics

4 h. ago Bank of England expected to leave interest rates on hold as Middle East conflict pushes up oil price – business live

Rolling coverage of the latest economic and financial news, as Switzerland and Philippines cut interest ratesNewsflash: We have a third interest rate cut this morning!Norway’s central bank has surprised analysts by cutting its policy rate by a quarter of one percentage point, to 4.25%. The rate had been set at 4.5% since December 2023.“Inflation has declined since the monetary policy meeting in March, and the inflation outlook for the coming year indicates lower inflation than previously expected.A cautious normalisation of the policy rate will pave the way for inflation to return to target without restricting the economy more than necessary.”“The uncertainty surrounding the economic outlook is now greater than normal. If the economy takes a different path than currently envisaged, the policy rate path may be adjusted. But our objectives stand firm. We will finish the job and ensure that inflation is brought all the way back to 2 percent.”The Monetary Board also noted indications of...

Economics

5 h. ago Bank of England expected to leave interest rates as Middle East conflict drives up oil price – business live

Rolling coverage of the latest economic and financial newsEurope’s main stock markets have dropped at the start of trading.In London, the FTSE 100 index has lost 33 points, or 0.37%, to 8810 points. Mining stocks are among the fallers. Continue reading...

Economics

6 h. ago Interest rates – live: Bank of England to make latest decision after inflation higher than expected

Stock market reaction and business news from Thursday

Economics

31 h. ago Inflation rate dips in May after "awful April" cost of living spike

The latest inflation data comes on the eve of a Bank of England decision on interest rates when they are expected to be left on hold at 4.25%

Economics

69 h. ago FTSE 100 closes near record high, and oil price falls, on reports Iran seeks talks with Israel – as it happened

Rolling coverage of the latest economic and financial newsMiddle East crisis live: Iran and Israel trade attacks amid reports Tehran could be seeking talksIran and Israel crisis: what does it mean for the price of oil?Over at the Paris Air Show, a row has broken out after four Israeli company stands at the trade fair were shut down.According to Reuters, French authorities ordered that the four stands should be closed for “displaying offensive weapons”, after not complying with an order from a French security agency to remove offensive or kinetic weapons from the stands.“This outrageous and unprecedented decision reeks of policy-driven and commercial considerations.“The French are hiding behind supposedly political considerations to exclude Israeli offensive weapons from an international exhibition - weapons that compete with French industries.” Continue reading...

Politics

3 d. ago Markets stabilise as investors fear ‘adverse shock’ from higher oil prices – business live

Rolling coverage of the latest economic and financial newsOver at the Paris Air Show, a row has broken out after four Israeli company stands at the trade fair were shut down.According to Reuters, French authorities ordered that the four stands should be closed for “displaying offensive weapons”, after not complying with an order from a French security agency to remove offensive or kinetic weapons from the stands.“This outrageous and unprecedented decision reeks of policy-driven and commercial considerations.“The French are hiding behind supposedly political considerations to exclude Israeli offensive weapons from an international exhibition - weapons that compete with French industries.” Continue reading...

Economics

3 d. ago Oil price rise risks ‘adverse shock’ to global economy – business live

Rolling coverage of the latest economic and financial newsThe FTSE 250 index of medium-sized companies is also rising this morning, up 38 points (+0.2%) at 21,212 points.Lender Metro Bank are the top riser, up 8.5%, after the Sunday Times reported that it had received a takeover approach from Pollen Street Capital. Continue reading...

Economics