United Kingdom inflation soared to 4.0 per cent in December, marking the first increase in 10 months and complicating the timing of potential interest rate cuts by the Bank of England in the coming year. The Office for National Statistics revealed that the annual inflation, measured by the consumer prices index, rose from the previous … Read more
Once again, wage growth has slowed in the UK jobs market. Today, according to the Office for National Statistics, the annual rate of growth in earnings, including annual bonuses, has slowed to 6.5 per cent. The data shows a massive slowing since the summer of last year, when wage growth was at its highest, measuring … Read more
UK house prices are poised to defy earlier predictions of a decline in 2024 as mortgage pricing competition and Bank of England interest rate reductions reinvigorate the property market. Following a year marked by continuous price decreases in 2023, the forecast for UK house prices now anticipates a 3 per cent increase in 2024. This … Read more
The Bank of England (BoE) is facing potential pressure to advance the timeline for its first interest rate cut, following unexpected updates from three prominent forecasters. Oxford Economics consultancy, along with analysts at Investec and Deutsche Bank, have revised their inflation outlook for 2024. Their surprise conclusion suggests that the consumer prices index (CPI), which … Read more
Three prominent forecasters – Oxford Economics consultancy, Investec and Deutsche Bank – have issued a revised outlook, indicating that the Bank of England (BoE) might need to expedite its plans for the first interest rate cut. This comes in light of their predictions that the inflation rate will plummet to two per cent by April, … Read more
Published By: Mohammad Haris Last Updated: December 14, 2023, 18:54 IST Bank of England keeps its main interest rate at a 15-year high. (File Photo: Reuters) Bank of England leaves its main interest rate at a 15-year high of 5.25%, where it has stood since August following the end of nearly two years of hikes … Read more
Annual energy bills for a typical household are expected to fall to £1,660 between April and June next year, according to a new forecast. Consultancy firm Cornwall Insight says bills could drop by £268 a 16 per cent decrease – in line with the official price cap set by the UK’s energy regulator Ofgem. The … Read more
For a third straight time, the U.S. Federal Reserve kept its key interest rate unchanged Wednesday, as it signalled its expectations to make a series of quarter-point cuts to the benchmark interest rate next year. Those envisioned rate cuts — which wouldn’t likely begin until the second half of 2024 — suggest officials think high borrowing rates … Read more
Chancellor Jeremy Hunt said it was positive to see inflation continuing to fall Inflation came down from 11.1 per cent last autumn to 4.6 per cent today By John-paul Ford Rojas Associate City Editor Updated: 08:14 GMT, 13 December 2023 Hopes for an interest rate cut in the first half of next year have been … Read more
The average cost of a two-year fixed-rate mortgage in the UK has fallen below 6 per cent for the first time in almost six months, figures showed on Friday. In news that will be welcome to homebuyers and remortgage buyers, data from Moneyfacts showed that the cost of borrowing is still falling from the peaks … Read more
