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11.11.26 - 07:24
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Bank of England′s inflation response ′risks higher interest rates for longer′ (The Guardian)
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Thinktank Niesr says timid rate rise last week likely to make inflation more persistent feature of UK economyThe Bank of England is risking higher interest rates for longer after a hesitant response to rising inflation, according to leading thinktank.In a searing critique of the central bank's tactics, the National Institute of Economic and Social Research (Niesr) said a timid increase in interest rates last week was likely to mean inflation staying above the Bank's 2% target until at least 2030. Continue reading......
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10.11.26 - 08:48
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BOE′s Bailey Backs UK Trade Opportunities, Including With EU (Bloomberg)
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Bank of England Governor Andrew Bailey, speaking at an event in Zurich Monday, encouraged the UK to pursue any opportunity for greater trade and market access. "If there are opportunities to increase the openness and the markets that we serve, wherever they are, whether it's the European Union, Switzerland, or anywhere else — other things equal, we should take them,” Bailey said. On Thursday UK Prime Minister Andy Burnham will speak with fellow European leaders in Dublin, before an official UK-EU summit later in the month. (Source: Bloomberg)...
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10.11.26 - 07:48
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Young people in UK hit by ′low-gear economy′, warns Bank of England deputy (The Guardian)
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Exclusive: Iran war has fuelled energy price rise and clouded outlook, driving up unemployment, says Clare LombardelliYoung people in Britain are bearing the brunt of a “low-gear economy” as employers hold back from hiring amid the fallout from the war in the Middle East, a deputy governor of the Bank of England has warned.Clare Lombardelli, the Bank's deputy governor for monetary policy, said the unfolding conflict, which has triggered a surge in energy prices and clouded the outlook for the economy, was contributing to an increase in youth unemployment. Continue reading......
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05.11.26 - 18:36
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Bank of England raises interest rates to 4%, the first increase for more than three years (The Guardian)
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Base rate increases from 3.75%, and Bank governor signals another rise in near future to combat rising inflationAnalysis: Interest rate rise in midst of cost of living crisis will leave many incredulousBusiness live – latest updatesThe Bank of England has raised interest rates for the first time in three years and warned of another increase to come to combat rising inflation unleashed by the Iran war.Eight members of the Bank's monetary policy committee (MPC) voted for the move, which takes the base rate from 3.75% to 4%. The ninth member, Catherine Mann, preferred a more dramatic half-point increase. Continue reading......
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