Trump’s trade war could pose ‘substantial’ threat to UK economy, says Bank
Although UK may avoid tariffs, overall productivity could be impacted by tit-for-tat tariffs between economies A full-blown trade war would pose a “substantial” threat to the British economy, Bank of England governor Andrew Bailey has warned. Donald Trump struck Canadian and Mexican imports with new duties of 25%
Read More
Bank of England must proceed with caution over future rate cuts, says deputy governor
Dave Ramsden said gradual and careful approach needed to balance inflation risks and interest rate cuts Business live – latest updates Bank of England policymakers must proceed cautiously – like mountaineers – as they cut interest rates in the months ahead as inflation risks rise, according to the
Read More
Bank of England deputy governor warns of increased inflation risks, as house prices rise again – business live
Sir Dave Ramsden says risks to the BoE’s inflation target as two-sided, requiring ‘gradual and careful approach’ to rate cuts Shares have fallen sharply across Asia-Pacific markets after Donald Trump announced that a new 10% tariff will be imposed on Chinese imports next week. China’s CSI 300 index
Read More
UK inflation jumps to 3%, reducing chance of early interest rate cut
Annual CPI inflation rate hit 10-month high in January in blow to ministers amid rise in food bills and fuel costs Analysis: Bank of England faces bumpier road after inflation accelerates Business live – latest updates UK inflation accelerated faster than expected at the start of this year,
Read More
Bank of England faces bumpier road after inflation accelerates
Tough route also awaits Rachel Reeves as households reel from sharp increase in living costs UK inflation jumps to 3% Business live – latest updates Andrew Bailey had warned there would be a bump in the road. But after inflation jumped by more than expected to 3% in
Read More
Strong wage growth gives Bank of England interest rate dilemma
Quick cuts unlikely because persistently high pay rises will probably be deemed inflationary UK pay growth rises 6% despite job loss warnings after Reeves’s budget Business live – latest updates There was a brief period when the Bank of England was poised to cut interest rates and cut
Read More
UK pay growth rises 6% despite job loss warnings after Reeves’s budget
Unemployment rate unchanged in three months to December, while vacancies increased in January Business live – latest updates The pay of UK workers grew sharply in December and unemployment remained unchanged despite warnings from business that Rachel Reeves’s autumn budget would lead to job losses. Figures from the
Read More
The Guardian view on Rachel Reeves’s spending cuts: a choice, not an economic necessity | Editorial
The spring statement casts austerity as unavoidable, but Labour is clinging to economic myths while ignoring the tools of power The chancellor’s spring statement arrives with the sombre tone of inevitability. Britain, we’re told, must tighten its belt. Welfare payments for the sick and disabled will be shrunk.
Read More
Labour’s economic strategy is outdated. I can fix that | Jagjit Chadha
The last thing we need from Wednesday’s spring statement are incremental changes to tax and spending. Let’s have a clear plan Jagjit Chadha is professor of economics at Cambridge University and a former academic adviser to HM Treasury, the Bank of England and the Treasury select committee Britain
Read More
UK economy shrinks unexpectedly in blow to Rachel Reeves
ONS data showing 0.1% fall in GDP in January comes less than two weeks before chancellor’s spring statement Analysis: Shrinking economy an unhelpful backdrop for Reeves’s growth push Business live – latest updates The UK economy contracted by 0.1% in January, dealing a blow to Rachel Reeves before
Read More