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Economy

UK inflation rate hits target of 2%: Is this a signal for rate cuts?

The United Kingdom's overall inflation rate fell to 2% year-on-year in May, hitting the Bank of England's target for the first time since July 2021, just ahead of the bank's June meeting.

Business

Hargreaves Lansdown set to back consortium's euro billions bid

This proposed offer of €6.3bn for the UK's largest stockbroker follows three previous approaches from the consortium in recent months.

Markets

Weekly markets recap: European stocks sink on political jitters

Global markets were mixed this week as European stocks tumbled on political turmoil, while Wall Street hit a new high fueled by a tech rally.

Business

Mexican billionaire buys major stake in BT as new strategy takes hold

Carlos Slim who is Latin America's richest man has disclosed a 3.2% stake in the FTSE 100 company, making him one of its largest shareholders. With the purchase by Slim's family business, Inbursa, he becomes the latest high profile investor in the telecoms group.

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Markets

Fed rate decision: European stock markets recoup most of earlier falls

European stock markets recoup most of their losses from earlier in the week following the release of US CPI data. Regional markets opened lower despite the Fed’s rate decision propelling Wall Street to all-time highs overnight.

Economy

BoE holds rates steady, sees inflation below target in two years

The Bank of England maintained interest rates at 5.25%, in a split decision with two members dissenting. Governor Andrew Bailey indicated it's premature to reduce rates. New forecasts project that price pressures will fall below the target within two years.

Business

Ahead in the Markets: The BoE's rate decision, UBS, and ARM earnings

This week, all eyes will be on the Bank of England's (BoE) rate decision, along with the release of quarterly earnings reports from major companies including UBS and BP. These events will provide crucial insights into the market trajectory and investor sentiment.

Economy

UK inflation drops to two and a half year low as food prices cool

Stabilising food inflation and falling house prices both contributed to UK inflation coming down further in March, leading to renewed hopes that the Bank of England might cut rates soon.

Markets

Gold hits fresh high: Why are investors turning to the precious metal?

A closer look at why the price of gold has hit a fresh record this week as other commodities also move higher, including oil prices.

Economy

Bank of England holds rates steady, inflation set to drop

The Bank of England has held the interest rate at 5.25%, with one dissent by Swati Dhingra advocating for a 0.25% cut. Projections see inflation dipping below the target in Q2 2024.

United Kingdom

King Charles III banknotes to enter circulation in June 2024

New banknotes will be issued solely to substitute worn ones and to accommodate any rise in demand for banknotes.

Economy

Pound moves higher as UK retail sales rise at fastest pace since 2021

January's jump in sales was the biggest since April 2021 and followed a 3.3% fall in December.

Economy

UK enters recession as economy shrinks: Will the BoE cut rates sooner?

An economy is widely considered to enter a technical recession following two consecutive quarters of negative economic growth, which is usually measured by GDP.

Economy

UK house prices rise for fourth month running on lower mortgage rates

Northern Ireland saw the highest growth within the UK, where house prices increased by about 5.3% annually.

Economy

UK interest rates kept steady despite downward inflation trend

The Bank of England has decided to hold interest rates at a 16-year high for the fourth consecutive month, following leads from the Fed and the ECB.

Business

HSBC hit with £57 million fine for not protecting deposits

HSBC neglected to adequately protect customer deposits from around 2015 to 2022, leading to the PRA issuing its second largest fine ever.

Economy

UK inflation unexpectedly pulled up by clothes, alcohol and tobacco

Clothing and footwear prices, as well as furniture and household goods prices drove UK inflation up in December 2023.

Economy

How much money did the UK government borrow in November?

The Office for National Statistics (ONS) said public sector net borrowing stood at £14.3 billion in November, reflecting the fourth-highest November total since monthly records began in 1993.

Economy

UK Christmas miracle: Inflation dips to two-year low in November

The latest inflation data signals an easing in the cost of living crisis in the UK.

Money

'World's first' blockchain payments made at the Bank of England

The aim is to set up a series of regulated, blockchain-based "institutional grade" payments systems for other core currencies overseen by their home central banks.