Fiscal watchdog to hike growth forecasts to highest on record at budget October 19, 2021 The government’s independent fiscal watchdog will make the biggest ever upgrade to the UK’s economic growth rate at the budget next Wednesday. The Office for Budget Responsibility (OBR) will hike its forecasts for the British economy’s annual expansion rate to 7.5 per cent, according to the economic think tank the Resolution Foundation. This would be [...]
Tesco opens new check-out free store October 19, 2021 Tesco has launched GetGo, its first checkout-free store in central London. The new store trial will allow customers to shop and pay without scanning a product or using a checkout. It is rolling out the technology to Tesco Express High Holborn. Customers with the Tesco.com app will now be able to check-in, pick up their groceries walk straight [...]
Bank of England to hike rates in just over two weeks October 18, 2021 The Bank of England will scale back the wave of stimulus it unleashed in response to the Covid-19 crisis in just over two weeks. That’s the warning from two leading international banks, who both ratcheted up their expectations for the first rate hike in over three years today. Wall Street giant Goldman Sachs brought forward [...]
Bank of England to hike rates in just over two weeks, warn top international banks October 18, 2021 The Bank of England will scale back the wave of stimulus it unleashed in response to the Covid-19 crisis in just over two weeks. That’s the warning from two leading international banks, who both ratcheted up their expectations for the first rate hike in over three years today. Wall Street giant Goldman Sachs brought forward [...]
Sunak reportedly mulls cutting VAT on household energy bills to ease cost of living October 18, 2021 Rishi Sunak is reportedly considering cutting the 5 per cent rate of VAT on energy bills in a bid to cut living expenses for families this winter. Potential cuts in VAT to energy bills were touted by Vote Leave campaigners as a “Brexit dividend”, as EU rules stop countries from changing the rate, with some [...]
Energy crunch chokes China economy October 18, 2021 China’s energy crunch choked economic growth as factories switch off production amid shortages and soaring energy costs. The world’s second largest economy grew 4.9 per cent in the last quarter compared to the same period last year, the slowest rate of expansion since the third quarter of last year. Third quarter growth came in below [...]
Top finance brass bet on Bank of England rate hike October 18, 2021 The UK’s top finance brass are becoming increasingly confident the Bank of England will hike interest rates. Over half of chief financial officers (CFO) think rates will rise to at least 0.5 per cent by this time next year, research by Deloitte has found. Soaring inflation, driven by supply chains buckling under the weight of [...]
Top finance brass bet on Bank of England rate hike October 18, 2021 The UK’s top finance brass are becoming increasingly confident the Bank of England will hike interest rates. Over half of chief financial officers (CFO) think rates will rise to at least 0.5 per cent by this time next year, research by Deloitte has found. Higher interest rate expectations have strengthened over the last three months, [...]
Back to 2007: UK house prices rise for every region and buyer type October 18, 2021 It’s a full house for the UK home buying market, with property prices rising last month in every region of the UK, London included, and for buyer types ranging from first-timers to those at the wealthiest rungs of the property ladder. In London, the average property price hit £650,683, up another 1.9 per cent on [...]
Bank of England will ‘have to act’ to curb inflation October 17, 2021 Bank of England Governor Andrew Bailey has signaled that the Bank of England is gearing up to increase interest rates. The central bank is considering raising interest rates for the first time since the onset of the coronavirus crisis due to increasing inflation risks. He believes the surge in energy prices raises the risk of [...]
