Bank of England and others may have to keep rates ‘higher for longer’ to crush inflation June 25, 2023 The Bank of England and the rest of the world’s top monetary authorities’ fight against roaring inflation “is not yet done,” one of the globe’s leading economic institutions has warned. In its annual analysis on the state of the world economy released today, the Bank for International Settlements (BIS), often referred to as the “central [...]
Inflation and growth fears weigh down UK manufacturing June 23, 2023 Higher interest rates, strong inflation and pessimistic expectations for growth are weighing the UK's services and manufacturing sectors.
FTSE 100: London markets dip as investors fret over interest rate pain June 23, 2023 London’s premier FTSE 100 index has tumbled at the open this morning as investors grapple with the Bank of England’s move to hike rates to their highest level in 15 years yesterday.
It was do or die for Andrew Bailey and the Bank of England – in the end, there was no choice June 23, 2023 When it came down to it, there was no choice. Inflation stuck at just below nine per cent. Unforgiving buried price pressures. Businesses rebuilding profits. Workers with no choice but to demand more money. These are the characteristics of an economy stuck in stagflation. The Bank of England had to take drastic measures. Yesterday’s interest [...]
There may be mortgage pain, but these bankers say rates hikes could boost the City June 22, 2023 Numis says the higher cost of capital could scupper private equity takeovers and boost the IPO market
Bank of England hikes interest rates by 50 points to five per cent after inflation shock June 22, 2023 The Bank of England today reverted to steeper interest rate rises in a sign that embattled Governor Andrew Bailey and co have been spooked by much tougher than feared inflation. Bailey and the rest of the monetary policy committee (MPC) – the nine-strong group who set official interest rates in Britain – backed a 50 [...]
Does raising interest rates actually bring down inflation? June 22, 2023 Britain’s inflation problem is looking much harder to solve than first thought. Numbers out from the Office for National Statistics (ONS) yesterday revealed the rate of price increases was unchanged in May at 8.7 per cent. The City thought it would slim to 8.4 per cent. Core inflation – the best barometer of underlying price [...]
UK inflation smashes forecasts again raising chances of larger Bank of England interest rate hike June 21, 2023 UK inflation is still outpacing experts’ predictions and is running at a level that could lure the Bank of England into an outsized interest rate hike tomorrow, heaping more pain on families and businesses. Official figures out this morning from the Office for National Statistics (ONS) showed the rate of price hikes held steady at [...]
UK debt pile tops size of entire economy for first time since 1960s June 21, 2023 Britain’s debt stock has swelled to larger than the size of its economy for the first time since March 1961, pushed higher by the government helping families with their energy bills, new numbers out today show. The UK’s over £2.5 trillion debt pile represents 100.1 per cent of the value of its gross domestic product, [...]
UK pay still rising at three decade high in headache for Bank of England June 21, 2023 UK pay has risen at its fastest pace in over three decades for the fifth quarter in a row in a sign that the Bank of England may have to keep raising interest rates to get ahead of inflation, new figures out today show. Workers notched an average six per cent wage increase in the [...]
