Excerpts were released over the weekend and include a scathing view of Britain’s financial establishment. She describes the Treasury, the Bank of England and the Office for Budget Responsibility (OBR) as a “three-headed hydra” that “wanted to stick as closely to EU law as possible.” But the now-backbench MP went further in the interview, saying … Read more
The exterior of the Bank of England in the City of London, United Kingdom. Mike Kemp | In Pictures | Getty Images LONDON — The Bank of England on Friday announced a “once in a generation” overhaul of its inflation forecasting following a long-awaited review by former Federal Reserve Chair Ben Bernanke. The review — initiated after criticism of … Read more
Though some analysts expect the recession to be temporary, the figures deal a blow to efforts by Prime Minister Rishi Sunak to paint a rosier picture of the economy in what is expected to be an election year. On Tuesday, Sunak told business executives that the U.K. economy had “turned a corner” and was being … Read more
Consumer prices in the United Kingdom stood at 4 percent in January, unchanged from December and defying expectations of a renewed pick-up, data released by the Office for National Statistics showed Wednesday. Analysts polled by Reuters ahead of the release had projected inflation to accelerate to 4.2 percent at the start of the year. Core … Read more
