ECB lifts interest rates to 22-year high as inflation concerns outweigh slowdown fears September 14, 2023 The decision comes amid a backdrop of slowing growth in the bloc, suggesting that the ECB's nine rate hikes are transmitting through to the wider economy.
Opportunity and risk: why we need ethical accountability in the adoption of AI systems September 14, 2023 We know AI is going to change our world. What we are less sure of is exactly how that change is going to manifest itself. Already, AI-infused innovation has markedly changed our daily lives; think of the facial recognition technology that allows us to unlock our phones, or the map apps that prevent us from [...]
ECB: Analysts reckon “pregnant pause” likely as ratesetters meet today September 14, 2023 Slowing European growth is likely to lead rate-setters at the European Central Bank (ECB) to leave interest rates on hold, economists expect.
US inflation accelerates at fastest pace in over a year on surging gas prices September 13, 2023 The consumer price index increased by 0.6 per cent last month, the largest gain since June 2022, the Labor Department said on Wednesday. The CPI had risen 0.2 per cent for two straight months.
UK exports to EU increase in July but services still stagnant September 13, 2023 The UK saw a "steady" expansion in exports of goods to the EU in July but the services sector saw continued stagnation, official data out today showed.
The WTF economy: Why latest UK GDP figures only add to the confusion September 13, 2023 Nicholas Hyett, investment analyst at Wealth Club, said the UK's economy was like the "hokey cokey". So what's going on?
‘Recession may have begun’: UK economy craters 0.5 per cent in July September 13, 2023 Data from the Office for National Statistics (ONS) showed that the economy contracted 0.5 per cent in July. Economists had predicted a smaller fall of 0.2 per cent.
‘Real risk’ inflation could become embedded, Bank of England’s new deputy governor warns September 12, 2023 Speaking to MPs, Breeden said "the challenge right now is that wages are high and rising and there is a real risk that the second-round effects mean that this inflation becomes embedded."
Brits face mortgage crisis as number in arrears climbs to highest this decade September 12, 2023 New arrears cases accounted for 16 per cent of total outstanding balances, which was roughly constant to the previous quarter.
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.