15 h. ago Inflation target provides clear benchmark, says Bank of England chief economist

The target has helped to anchor longer-term inflation expectations, Huw Pill said in a speech.

Economics

22 h. ago UK prosecutor says a spying case collapsed because the government wouldn't call China a threat

England's chief prosecutor says the trial of two British men accused of spying for China collapsed because the government refused to label China a national security threat

Events

5 d. ago Dame Sarah Mullally named as first female Archbishop of Canterbury

A former chief nursing officer for England, Dame Sarah is now Archbishop of Canterbury-designate, ahead of a legal ceremony expected in the coming months to confirm her position.

Politics

8 d. ago Keeping rates high for too long ‘could pull inflation below target’

The Bank of England’s Sarah Breeden warned that economic output could also be affected.

Economics

1 week ago The next big financial crisis may be brewing. Warning signs are already there | Larry Elliott

The longer the period between crises, the greater the complacency. That complacency is pushing share prices ever-higherUS job creation has stalled and, despite the curbs on migration, unemployment is rising. Tariffs are pushing up the cost of imports. And Donald Trump is at war with the governor of his own central bank and wants him out.But traders on Wall Street are not bothered by the fact that inflation is above the target or that growth is slowing. Share prices are testing new record levels on an almost daily basis. Jerome Powell, the man Trump wants to be rid of, says stocks are “fairly highly valued”, which is an understatement if ever there was one. By historical standards, stocks are extremely highly valued. There is trouble – perhaps big trouble – ahead.Larry Elliott is a Guardian columnist Continue reading...

Events

2 w. ago Britain has an inflation problem and we need to stop making it worse: SIMON LAMBERT

Inflation in the UK is way above target and considerably higher than in the US and across the eurozone - and a lot of this is self-inflicted.

Economics

3 w. ago Labour must rethink growth strategy to curb rise of far right, says top economist

Former Bank chief economist Andy Haldane says left-behind communities need investment to stem populist tideDefeating far-right populism will require Labour to radically overhaul its “arid” approach to raising living standards in left-behind communities, the former Bank of England chief economist has said.Andy Haldane warned that Labour’s growth plans were failing to support parts of the country where voters feel neglected and disenfranchised. Continue reading...

Politics

3 w. ago Russia cuts interest rate to 17% as wartime economy slows while deficit grows

Russia’s central bank is cutting its benchmark interest rate by one percentage point to 17%, a step that could support growth and business activity as the economy slows and the government budget deficit increases

Events