8 h. ago Top Federal Reserve official calls for rate cuts as soon as July

Governor Chris Waller says US has yet to see an inflation ‘shock’ from Donald Trump’s tariffs

Politics

12 h. ago UK grocery watchdog investigating Amazon over alleged supplier payment delays; company insolvencies jump – business live

Groceries Code Adjudicator calls on suppliers to share their experiences of working with AmazonThe number of companies collapsing across England and Wales jumped last month, in a sign of the economic pressures hitting firms.There were 2,238 company insolvences in England and Wales during the month, which is 8% higher than in April and 15% more than in May 2024.“This latest rise in corporate insolvencies reflects the harsh reality many businesses face: fragile demand is not keeping pace with rising costs. Even the increasingly-likely prospect of rate cuts in August won’t do much to fix this – insolvency levels will remain elevated for the foreseeable future.“Sectors like hospitality are having a particularly challenging time in this environment, in no small part due to the impact on labour costs of April’s National Insurance and minimum wage increases. These businesses are now approaching what are some of their peak months and will be hoping for strong trading to bolster their resili...

Economics

32 h. ago Voices: Don’t panic, chancellor – there’s still hope for interest rate cuts

Forget homeowners with tracker mortgages or those desperate for a better deal – the person who’s hurting the most from the Bank of England’s decision not to lower interest rates is Rachel Reeves, says James Moore

Politics

38 h. ago Swiss cut key interest rate by a quarter percentage point, putting its target now at 0%

Switzerland’s central bank says it has cut its target interest rate by a quarter of a percentage point, adding inflationary pressures have eased

Events

38 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

39 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

49 h. ago Stagflation warning as Fed resists Trump's pressure and holds interest rates

The US Federal Reserve, led by Chairman Jay Powell (pictured), left rates at a range of 4.25-4.5% as it cut its forecasts for economic growth.

Events

50 h. ago Fed chief Powell's stubborn defiance on interest rates risks an avoidable downturn, says ALEX BRUMMER

The Federal Reserve's rate hold should come as no surprise. Chairman Jay Powell is determined to preserve the US central bank's independence.

Events

53 h. ago Fed keeps rates unchanged after Trump knocks chairman Jerome Powell – live

The Federal Reserve holds interest rates steady and policymakers signal borrowing costs are still likely to fall this yearRussian deputy foreign minister Sergei Ryabkov warned on Wednesday that direct US military assistance to Israel could radically destabilise the situation in the Middle East, where an air war between Israel and Iran has raged for six days.In separate comments, the head of Russia’s SVR foreign intelligence service, Sergei Naryshkin, was quoted as saying that the situation between Israel and Iran was now critical. Continue reading...

Politics

53 h. ago Federal Reserve holds interest rates, defying Trump’s demand to lower them

Hours before the decision, the president called the Fed’s chair, Jerome Powell, ‘stupid’ for anticipated rate holdThe US Federal Reserve kept interest rates on hold, but signaled it might make two cuts this year, as Donald Trump continues to break with precedent and demand lower rates.Policymakers at the American central bank lifted their projections for inflation this year, as the US president stands by his controversial tariff plans, and downgraded their estimates for economic growth. Continue reading...

Politics

56 h. ago Donald Trump calls for huge rate cuts as he calls Fed’s Powell ‘stupid’

US president asks whether he can ‘appoint myself’ at the central bank hours ahead of policy decision

Politics

56 h. ago Donald Trump calls for huge rate cuts and says Fed chief is ‘stupid’

US president attacks Jay Powell and asks whether he can ‘appoint myself’ at the central bank hours ahead of policy decision

Politics

57 h. ago Trump calls Fed Chair Jerome Powell ‘a stupid person’ ahead of key interest rate decision

The Federal Reserve is set to keep interest rates the same despite Trump’s desire to see a rate cut

Politics

59 h. ago UK transport secretary calls HS2 an ‘appalling mess’ as she confirms delay

Heidi Alexander vows to ‘sort out’ HS2 project; UK inflation dips to 3.4% as transport costs ease while food prices jumpUK inflation eases to 3.4% amid falling fuel and air fare pricesInflation pressures remain sticky in the UK, according to Rob Wood, chief UK economist at Pantheon Macroeconomics.Looking ahead, we continue to expect CPI inflation to average 3.4% for the rest of the year as strong wage growth, minimum wage hikes and tax increases pass through to retail prices. We think headline inflation will struggle to dip below 3% before April 2026. By that point, inflation will have been above target almost continuously for five years, risking further deanchoring of inflation expectations and persistent wage pressure.Granted, US president Trump’s trade war could lead to some diversion of Chinese exports previously bound to the US, which could cut UK inflation. But war in the Middle-East has boosted oil and natural gas prices, adding 10bp to our forecast inflation peak and risks p...

Politics

61 h. ago Hoping for lower borrowing costs? Fed likely to stand pat again

The inflation-fighters at the Federal Reserve are expected to keep their key interest rate unchanged Wednesday for the fourth straight time

Economics

3 d. ago 'Purgatory:' Fed officials left in limbo as tariffs complicate this week's rate decision

The U.S. economy is mostly in good shape but that isn’t saving Federal Reserve chair Jerome Powell from a spell of angst

Politics

4 d. ago Patients angering NHS staff by secretly filming consultations for TikTok and Instagram

The Society of Radiographers (SoR) is calling on health officials to introduce national guidelines that ban covert recording in hospitals and clinics.

Sport

6 d. ago Millions expected at ‘No Kings’ protests before Trump’s military parade – live updates

‘No Kings’ protests across US come after a week of unrest over anti-immigration raids; Trump’s military parade to begin at 6.30pm ET in Washington DCA flagship No Kings march and rally are planned in Philadelphia, but no events are scheduled to take place in Washington DC, reports the Associated Press (AP). The demonstrations come on the heels of protests flaring up around the country over federal immigration enforcement raids that began last week and Donald Trump ordering national guard troops and marines to Los Angeles where protesters blocked a freeway and set cars on fire. Police responded with teargas, rubber bullets and flash-bang grenades while officials enforced curfews in Los Angeles and Democratic governors called Trump’s guard deployment “an alarming abuse of power” that “shows the Trump administration does not trust local law enforcement”.The White House’s escalating response to street protests echoes talk before Donald Trump’s inauguration of forcibly quelling resistanc...

Events

7 d. ago Asian shares slide while oil prices surge after Israel's strike on Iran

Asia shares have opened lower while oil prices surged after Israel attacked Iran’s capital early Friday amid tensions over Tehran’s rapidly advancing nuclear program

Politics

8 d. ago Slump fears fuel summer interest rate cut hopes as figures show economy shrank by 0.3% in April

Experts said the setback added weight to the case for a reduction in August. Rate-setters meet next week but few think a cut will come that soon.

Politics