9 d. ago UK economic uncertainty ‘definitely’ hurting growth, says Bailey

Bank of England Governor Andrew Bailey on Tuesday highlighted Britain’s softening labour market and said rising uncertainty in the global economy had “definitely” hurt economic growth and investment intentions. In an interview with CNBC, Bailey said a key question for the BoE was how much the weakening of the labour market and the economy would […]

Economics

2 w. ago BoE policymaker urges patience as UK inflation risks longer plateau

Britain’s recent increase in inflation could prove to be a longer-lasting plateau rather than a short-term hump, and the Bank of England should be careful about reducing interest rates, BoE monetary policymaker Megan Greene said on Tuesday. “I worry about the near-term profile for inflation this year, which in my view now resembles more of […]

Events

3 w. ago Bank of England keeps rates steady, sees further loosening as jobs market weakens

The Bank of England held interest rates at 4.25 per cent as expected on Thursday but said it was focused on risks from a weaker labour market and higher energy prices as conflict in the Middle East escalates. Noting the elevated global uncertainty and persistent inflation, the Monetary Policy Committee voted 6-3 to keep rates […]

Economics

3 w. ago UK inflation slows but oil price jump creates new problem for Bank of England

British inflation cooled in May as expected by the Bank of England, which is set to keep interest rates on hold this week while it assesses international energy markets rocked by escalating conflict in the Middle East. Consumer prices rose in annual terms by 3.4 per cent in May, the Office for National Statistics said […]

Economics

4 w. ago Fed seen on track to resume rate cuts after inflation, job market data

The Federal Reserve’s path to interest rate cuts starting in September appeared to widen on Thursday, after a pair of government reports pointed to cooler inflation and signs of potential weakening in the labor market. US producer prices advanced 2.6 per cent in May from a year earlier, after rising 2.5 per cent in April, […]

Economics

last month Modest UK economic growth to lead Bank of England to cut rates gradually

The British economy will grow a mild 1 per cent this year with the Bank of England set to cut interest rates two more times in 2025, according to economists polled by Reuters, little changed from previous projections despite tariff uncertainty. The survey was completed before finance minister Rachel Reeves’ planned comprehensive spending review on […]

Economics

last month UK pay growth slows as jobless rate rises to highest since 2021

Pay growth in Britain slowed sharply and unemployment rose to its highest in nearly four years in the three months to April, official data showed on Tuesday, potentially making the Bank of England less cautious about cutting interest rates further. Wage growth excluding bonuses slowed to 5.2 per cent, its weakest since the three months […]

Politics