Monetary Policy Committee votes 8-1 to leave UK interest rates unchanged at 4.5%Bank of England says companies freezing hiring plans as it keeps interest rates on holdIn the property world, Norway’s sovereign wealth fund is buying a quarter of Covent Garden.The Norges Bank Investment Management has entered a partnership with landlord Shaftesbury, and will pay £570m for a 25% stake in the Covent Garden estate.This investment underscores our belief in the strength of London with the portfolio complementing our other high quality West End investments.Covent Garden is one of the world’s most recognised retail, leisure and cultural destinations and we look forward to supporting Shaftesbury Capital’s management team, with their strong track record of delivering the growth potential of this prime West End estate.”“The reforms I have announced will ensure everyone who can work gets the active support they need, including through an extra £1 billion for personalised health, skills and employ...
The Bank of England's Monetary Policy Committee voted 8-1 to hold UK interest rates at 4.5%, leading to predictions that the next rate cut may not occur until August. The Bank also noted companies are freezing hiring. Other events include a surprise interest rate rise in Turkey, the EU delaying tariffs on US goods, S&P Global predicting rate cuts in August and November, a Tesla Cybertruck recall, and OECD reporting global debt exceeding $100 trillion.
