Construction sector surges thanks to interest rate cuts and planning reform October 4, 2024 "UK construction companies indicated a decisive improvement in output growth momentum during September," Tim Moore, economics director at S&P Global Market Intelligence said.
Bank of England’s Huw Pill: ‘Ample reason for caution’ on interest rates October 4, 2024 Huw Pill, chief economist at the Bank of England, called for a “gradual” approach to cutting interest rates, citing continued concerns about the potential upside risks to the inflationary outlook. In a speech this morning Pill said there was “ample reason for caution” when assessing the dissipation of inflationary persistence. “While further cuts in Bank [...]
Bank of England survey suggests progress on inflation might be slowing October 3, 2024 The Bank's own decision maker panel (DMP), which surveys business leaders around the country, showed that wage and price pressures were more stubborn than anticipated last month.
Services inflation falls to lowest level since February 2021, survey suggests October 3, 2024 The survey noted that "competitive pressures continued to limit pricing power," which helped to contain inflationary pressures.
Sterling falls as Bailey suggests Bank could become ‘ more activist’ on rate cuts October 3, 2024 The Governor's comments were seen as slightly more dovish than his previous guidance had implied, prompting markets to anticipate further rate cuts in the months ahead.
Millions set for mortgage payment shock this year October 2, 2024 Mortgagors refinancing over the next year will continue to see a big jump in their monthly repayments.
Shop prices fall further into deflation as battle to ‘entice’ consumers continues October 1, 2024 According to the British Retail Consortium (BRC), shop prices fell 0.6 per cent in the year-to-September, down from 0.3 per cent the previous month.
Mortgage approvals hit highest level in two years as housing market recovers September 30, 2024 According to figures from the Bank of England, 64,900 mortgages were approved last month, up from 62,500 in July.
Markets doubt Bank of England’s cautious approach to interest rates September 30, 2024 The Bank of England held interest rates at five per cent last week, having cut rates for the first time since the pandemic back in August.
Bank’s Megan Greene calls for ‘steady-as-she goes’ approach to cutting interest rates September 25, 2024 Megan Greene, one of the Monetary Policy Committee's (MPC) more hawkish members, said a "gradual approach" to lowering borrowing costs was "appropriate" given the balance of risks facing the economy.