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UK inflation
Pound reaches a new high against the dollar as UK inflation remains steady
The pound reached a new high of one year against the dollar after UK inflation data for June came in slightly higher than expected at 2%.
The data showed that consumer prices were higher than analysts' expectations of 1.9%, and traders…
TUC: Unsecured household loans set to increase by 9.4% in this year
According to an TUC report, UK households will rack up additional unsecured debts totaling more than 1,600 pounds sterling this year. This includes loans and credit card debt.
According to the TUC, its analysis shows that average…
Thinktank: UK faces a £33bn financial hole or a return to austerity.
A think-tank warned that Britain's new government would need to make up a deficit of up to £33bn in the public finances, unless they were willing to push through another round of severe austerity.
The Resolution Foundation stated that…
Even though inflation has fallen, traders bet against a summer rate cut
Looming election and higher-than-predicted price rises push expectations back to November
Investors are pushing back the expectation of a rate cut in this summer, even though Rishi Sunak has hailed an inflation drop as a major moment for…
How inflation has driven the UK’s cost of living crisis
The Office for National Statistics will release its April inflation statistics on Wednesday. It is expected that the data will show prices rising at their lowest rate since summer of 2021.
For economists a rate of inflation of around 2%…
Investors rush to buy British debt amid fading hopes for a Fed rate cut
Investors rush to buy British bonds as traders increase bets on the Bank of England cutting interest rates ahead of the US Federal Reserve. The official data showed that the US rose more than expected in march, which was a blow for US rate…
Inflation in the UK falls to 3.4% as food prices slow
UK inflation dropped to 3.4% in Feburary, the lowest in two and a quarter years. This was due in part to a slower pace of price increases in food and restaurants.
The larger-than-forecast drop in the consumer price index (CPI), from…
Exchange chief: Brexit makes investing in the UK more difficult
Brexit has made it difficult to invest in the UK according to the CEO of the New York Stock Exchange, a former supporter of Britain's separation from the EU.
Jeffrey Sprecher is the founder and CEO of Intercontinental Exchange. He said…
Bank of England could begin cutting rates even before it reaches 2% inflation target
The Bank of England's governor, Mark Carney, stated that the bank might start lowering interest rates before inflation hits its 2 percent goal.He cited "encouraging" signs of a easing of price pressures.
Andrew Bailey, speaking to the…
UK economy will be in a grey gloom until the polling day, say economists
A survey by economists found that UK voters would enjoy higher wages, but struggle to pay their mortgages and rents ahead of the next general election. The cost of living crisis will give way to a "grey gloom" as the cost-of-living crisis…
Inflation in the UK falls to 3.9% by November
UK inflation slowed sharply in November to 3.9 per cent, triggering a slide in the pound, a stock market rally and increased expectations of an interest-rate cut early next year.
Wednesday's number was well below the 4.4 per cent…
IMF: Keep interest rates high to avoid a repeat of the inflation crisis from 1970s
The International Monetary Fund has warned that central banks need to keep interest rates at high levels for another 12 months in order to defeat inflation.
The Fund has called on central bankers "to pay the most attention" in order to…
Halfords warns that profits will fall amid a slump in sales of new bikes
Halfords warned that profits would be lower this Christmas as fewer people bought new bicycles.
The retailer's shares fell as much as 22% after it cut its profit forecasts. It said it would not be able to achieve a profit of £58m for the…
Andrew Bailey says that Britain’s outlook for growth is the ‘worst’ he’s…
Andrew Bailey said that the economic outlook is the worst of all times, and Britain is struggling to increase low levels in growth.
The Bank of England Governor expressed concern over UK future prospects, just days after the Office for…
Jeremy Hunt reduces national insurance, but taxes are at postwar highs
Chancellor Jeremy Hunt cut personal and business taxes by £20bn as part of his Autumn Statement aimed to boost growth. However, the UK's Budget Watchdog warned that taxes in general are still increasing at a high post-war level.
The…
Bank of England Governor warns the markets that inflation will not fall rapidly
Andrew Bailey warned the markets not to underestimate the UK's persistent inflation, and emphasized that he expects the Bank of England to keep interest rates at high levels for a long time.
The BoE Governor told MPs Tuesday that…
Hunt’s £10bn tax cut headroom at Autumn Statement is a significant amount, according to…
JP Morgan says that Jeremy Hunt can cut taxes by up to £10bn in the Autumn Statement next week, as the outlook of the economy improves while inflation slows down.
Allan Monks is an economist with JP Morgan. He said that he expected…
Data shows that UK grocery inflation has fallen to single digits, for the first time in 16 months.
According to data from the sector, UK grocery inflation is now at single digits after 16 months of steep increases. This will give households hope that food prices can normalise in the months to come.
Research company Kantar reported on…