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

15 h. ago Foreign Treasury holdings remain near record high despite tariff turmoil

International investors’ stockpiles of US government debt fell slightly in April

Politics

7 d. ago Exports to US slump at record pace in ‘payback’ after rush ahead of tariff hikes

The Office for National Statistics said the value of goods exported to America tumbled by £2 billion in April – the fastest pace since records began.

Economics

7 d. ago Spending review winners and losers: How each department fares

Health, education and defence are all set to see a growth in spending.

Economics

2 w. ago Trump’s mass firings of federal workers must remain on hold, court rules

Trump’s executive order regarding the firings ‘far exceeds the President’s supervisory powers under the Constitution,’ ruled the 9th Circuit Court of Appeals

Politics

4 w. ago Mike Johnson inches closer to passing Trump’s ‘big, beautiful bill’ but holdouts remain

Trump made clear he wants the SALT caucus to cut a deal. That could end up saving — or dooming — his ‘big, beautiful bill’

Politics