Breaking: Bank of England holds rates at 0.1 per cent despite rising inflation November 4, 2021 The Bank of England has held the interest rate at 0.1 per cent despite fears of runaway inflation. The Monetary Policy Committee voted 7-2 in favour of the move. This is a breaking story and will be updated.
Inflation will keep breaching BoE target over next half decade September 17, 2021 Inflation will routinely breach the Bank of England’s target over the next half a decade, according to fresh data released today. The Bank’s latest survey on inflation expectations shows Brits think the rate of price rises will hit three per cent in five years’ time, one percentage point above the Old Lady’s target. Over the [...]
Tax-free savings accounts set to lose thousands as inflation keeps climbing September 17, 2021 The rise in inflation means cash ISAs are set to lose thousands in real terms over the next five years. The average interest rate on a cash ISA rate is currently 0.31 per cent, per the Bank of England on 31 July, while the rate of inflation is now 3.2 per cent. At these rates, [...]
Three decade high inflation print will force US Fed’s hand, warns Goldman Sachs November 26, 2021 The US Federal Reserve will have to tighten policy much quicker than they want in order to hose-down runaway inflation, a leading Wall Street investment bank said yesterday. Goldman Sachs has bet on the Fed having to double the speed of scaling back its monthly asset purchases from January next year to and hiking interest [...]
Haldane: Inflation will reach four per cent this year June 30, 2021 The Bank of England’s outgoing chief economist has warned that UK inflation could surge to four per cent this year. Andy Haldane said in a speech today that he expects “UK inflation to be nearer four per cent than three per cent. This increases the chances of a high inflation narrative becoming the dominant one, a [...]
Pension funds are going overweight in copper as inflation climbs June 30, 2021 Most pension funds believe copper will become a more attractive investment and prices will rise during the remainder of this year, according to new research, shared with City A.M. this morning. Long known for its strong relationship with global economic activity, copper is fast becoming an indispensable commodity which is oiling global growth in green [...]
Soaring fuel and clothes prices push inflation to 5.1 per cent, its highest level in a decade December 15, 2021 Spiralling prices in transport and retail have pushed inflation to its highest level for a decade piling pressure on the BoE to hike rates.
Bitcoin rises to $50k again as Wall Street drops amid inflation fears October 5, 2021 Bitcoin - the leading cryptocurrency - is currently trading at around $50,200, up almost six per cent over the past 24 hours.
Why rising wages will concern the Bank of England September 12, 2023 With inflation coming down to 6.8 per cent in July, this means that households are seeing a boost in real income for the first time in nearly a year. But the Bank of England will be nervous.
Travis Perkins builds sturdy sales growth as cost inflation swells four per cent October 28, 2021 Building materials business Travis Perkins has posted solid sales growth in its third quarter trading update, which flies in the face of global supply chain troubles and a raw material pricing crisis. The London-listed builders merchants has continued a pandemic-era momentum – which saw many households undertaking DIY projects during lockdown – with like-for-like sales [...]