UK Is Falling Behind US in the Race for AI, BOE’s Haskel Says: The US is leading the UK on AI investments, raising concerns about a widening productivity gap ...
bloomberg.com/news/articles/2024-04-18/uk-is-falling-behind-us-in-the-race-for-ai-boe-s-haskel-says
BOE Official Warns of ‘Bumpy’ Last Mile in Inflation Fight: Bank of England policy maker Megan Greene said developed economies including the UK face a “bumpy ...
bloomberg.com/news/articles/2024-04-17/boe-official-warns-of-bumpy-last-mile-in-inflation-fight
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Inflation in U.K. Slows to 3.2%, Lowest in More Than 2 Years: As the economy cools, pressure is building on the Bank of England to cut interest rates.
nytimes.com/2024/04/17/business/uk-inflation-economy-interest-rates.html
Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
No Evidence BOE Decisions Swayed by Elections, Analysis Finds: The Bank of England could cut interest rates twice before the next UK general election ...
bloomberg.com/news/articles/2024-04-18/no-evidence-boe-decisions-swayed-by-elections-analysis-finds
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BOE’s Megan Greene Says UK Interest Rates Cuts ‘Not Imminent’: Bank of England policymaker Megan Greene said the UK faces difficult trade-offs over whether to ...
bloomberg.com/news/articles/2024-04-18/boe-s-megan-greene-says-uk-interest-rates-cuts-not-imminent
Bernanke Urges BOE to Give Market Clearer Guidance on Rates: Ben Bernanke called on the Bank of England to consider publishing its own outlook for UK interest ...
bloomberg.com/news/articles/2024-04-12/bernanke-urges-boe-to-speak-more-clearly-on-direction-of-rated
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Quick Glance: Improve: Bernanke Critiques Bank of England's Handling of Inflation Crisis
- The Bank of England has deteriorated in economic forecasting, with faulty models and outdated systems. Communication with the public needs enhancement.
- Ben Bernanke's report includes 12 detailed recommendations, which Andrew Bailey, the Bank's governor, intends to act upon. Bernanke emphasizes the Bank's potential for significant improvement.
- Bernanke criticizes the Bank's use of fan charts, suggesting they lack useful information and should be replaced with more transparent communication methods. He highlights the need for clearer decision-making reasoning.
- Despite recommendations, Bernanke avoided speculating on past actions, indicating room for substantial improvement within the Bank's processes. The report conveys a clear message: the Bank could have performed much better.
UK Jobs and Pay Data Poses a Dilemma for the Bank of England: Sticky wages and falling vacancies don’t make the Bank of England’s life any easier.
bloomberg.com/news/newsletters/2024-04-16/uk-jobs-and-pay-data-poses-a-dilemma-for-the-bank-of-england
UK Inflation: Traders Favor Just One BOE Rate Cut in 2024 After Hot Data: Money markets rushed to trim wagers on the extent of monetary easing by the Bank of ...
bloomberg.com/news/articles/2024-04-17/traders-favor-just-one-boe-cut-in-2024-after-hot-inflation-data
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Bank of England Official says UK on Cusp of Payments Revolution: Bank of England Deputy Governor Sarah Breeden said the UK is on the cusp of a technological ...
bloomberg.com/news/articles/2024-04-15/bank-of-england-official-says-uk-on-cusp-of-payments-revolution
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Next BoE deputy governor sees rate cuts coming into view, but can't say when
reuters.com/world/uk/next-boe-deputy-governor-sees-two-sided-risks-policy-outlook-2024-04-16/
UK wage growth slows slightly as Bank of England mulls rate cuts: British core wage growth slowed again, posting its weakest rise since the three months to ...
reuters.com/world/uk/uk-regular-wages-grow-60-3-months-february-2024-04-16/
Quick Glance: Rising Real Earnings Growth Raises Concerns at Bank of England
- An unexpectedly weaker decline in the pace of wage increases has led to real earnings growth reaching its highest level in nearly two and a half years when considering inflation, according to the latest official data.
- Recent official figures indicate that average regular pay without bonuses was at 6% in the three months to February compared to the previous year.
- The broader ONS statistics revealed an increase in the UK's unemployment rate from 3.9% to 4.2%, with caution due to ongoing efforts to enhance the reliability of employment data.
- The forthcoming inflation data expected on Wednesday is likely to demonstrate further progress towards the Bank's objectives and the potential for a decrease from the current 5.25% interest rate.
Why economic forecasting is performance art for central bankers: Ben Bernanke’s review is full of sound recommendations but unlikely to alter this opaque process
ft.com/content/475e1fae-1bf6-4aaf-ba07-e249f09cbc78
BOE’s Breeden Says Digital Pound Needed to Keep Grip on Money - Bloomberg: Bank of England Deputy Governor Sarah Breeden signaled growing support for a digital ...
bloomberg.com/news/articles/2024-04-08/boe-s-breeden-says-digital-pound-needed-to-keep-grip-on-money
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Bank of England’s Greene says rate cuts should be "a way off": Bank of England policymaker Megan Greene said interest rate cuts in Britain should remain "a way ...
reuters.com/markets/rates-bonds/bank-englands-greene-says-later-start-rate-cuts-better-ft-reports-2024-04-11/
King Charles presented with first banknotes bearing his portrait: British King Charles was presented with the new banknotes of his reign. The king ...
pbs.org/newshour/show/king-charles-presented-with-first-banknotes-bearing-his-portrait
Former Fed chief Bernanke to set out Bank of England reforms: Former Federal Reserve Chair Ben Bernanke will set out on Friday how the Bank of England should ...
reuters.com/world/uk/former-fed-chief-bernanke-set-out-bank-england-reforms-2024-04-11/
UK Companies Scale Back Outlook for Pay Rises to Less Than 5%: UK companies expect wage growth of less than 5% for the first time in almost two years ...
bloomberg.com/news/articles/2024-04-04/uk-companies-scale-back-outlook-for-pay-rises-to-less-than-5
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Inflation is down again – but don’t expect interest rates to follow suit: The Consumer Prices Index (CPI) did fall in March, from 3.4 per cent to 3.2 per cent ...
spectator.co.uk/article/inflation-is-down-again-but-dont-expect-interest-rates-to-follow-suit/
Bank of England to cut rates in May, Morgan Stanley says, retaining contrarian call
cnbc.com/2024/04/18/bank-of-england-to-cut-rates-in-may-morgan-stanley-says.html
UK lenders expect pickup in mortgage lending, Bank of England says: British lenders expect to see both supply and demand for mortgages to strengthen in the ...
reuters.com/world/uk/uk-lenders-expect-pickup-mortgage-lending-bank-england-says-2024-04-11/
Bank of England appoints Ernst and Young as its external auditor: The Bank of England has appointed Ernst and Young LLP as its external auditor from the ...
reuters.com/world/uk/bank-england-appoints-ernst-young-its-external-auditor-2024-04-09/
With UK's GDP being expanded by 0.1% month-on-month in February and, January's reading revised to show growth of 0.3%, the figures are likely to reinforce the ... Show more www.reuters.com/world/uk/uk-economy-grows-by-01-february-2024-04-12/
Quick Glance: UK on Track to Exit Recession with Rising GDP
- Britain's GDP rose by 0.1% in February despite heavy rainfall affecting the construction sector and retail.
- Sectors like manufacturing and services experienced growth, while construction saw declines due to bad weather.
- Recent months of economic growth suggest the recession may soon come to an end, although pressure from the cost of living crisis and higher prices persists for households and businesses.
- Despite the positive growth in 2024, GDP remains below 2023 levels and has been stagnant since early 2022, with real wages continuing to decrease and many facing financial difficulties.
Morning Bid: Tech, FX clouds clear: A look at the day ahead in European and global markets from Kevin Buckland
reuters.com/markets/global-markets-view-europe-2024-04-18/
Morning Bid: Fed leads race to cut last: A look at the day ahead in European and global markets from Kevin Buckland
reuters.com/markets/global-markets-view-europe-2024-04-12/
Sterling dips as weak UK pay data adds to signs of jobs slowdown: Sterling dipped against the dollar on Monday, as weak pay figures from recruiters added to ...
reuters.com/markets/currencies/sterling-dips-weak-uk-pay-data-adds-signs-jobs-slowdown-2024-04-08/
From ditched Fed rate cut bets to the spring meeting of the IMF and World Bank, these are the business and finance stories to look out for in the week ahead ... Show more www.reuters.com/business/take-five/global-markets-themes-takealook-2024-04-12/
Sack Andrew Bailey as Bank of England boss, says Liz Truss: Ex-PM describes the Treasury, the Bank of England and the Office for Budget Responsibility as a ...
politico.eu/article/chief-bank-england-andrew-bailey-should-be-sacked-liz-truss-says/
Bank of England sets out conditions for 'digital sandbox': Britain's financial regulators on Wednesday launched a public consultation on their new
reuters.com/world/uk/bank-england-sets-out-conditions-digital-sandbox-2024-04-03/
UK wage growth and services inflation too high for rate cut, BoE's Greene says: Britain's latest wage growth and services price inflation data is too high for ...
reuters.com/world/uk/uk-wage-growth-services-inflation-too-high-rate-cut-boes-greene-says-2024-04-18/
UK house prices fall for first time in three months amid ‘subdued’ market: Average price of home down 0.2% from February to March, to £261,142, says Nationwide
theguardian.com/business/2024/apr/02/uk-house-prices-fall-average-price-home-nationwide-subdued-market
UK unemployment rises more than expected as job market cools: The unemployment rate in Britain has risen by more than expected and wage growth has eased back ...
dailysabah.com/business/economy/uk-unemployment-rises-more-than-expected-as-job-market-cools
How has the Bank of England dealt with four years of shocks?: Its credibility is battered but intact. It can do better
economist.com/britain/2024/04/04/how-has-the-bank-of-england-dealt-with-four-years-of-shocks
Bank of England’s forecasting needs urgent revamp, says ex-US Fed chief Bernanke: The BoE’s systems are out of date in a changing world, review said.
politico.eu/article/bernanke-boe-needs-to-open-its-mind-and-its-wallet-to-get-forecasting-right/
Nearly half of UK companies still plan price increases, survey shows: Almost half British firms plan to raise their prices over the coming year as they struggle ...
reuters.com/markets/europe/nearly-half-uk-companies-still-plan-price-increases-survey-shows-2024-04-10/
Bank of England prepares for ‘once in a generation’ overhaul in forecasting: Reforms come after central bank was criticised for failing to predict post-pandemic ...
ft.com/content/2db61c2a-9af6-45b9-b27e-98d2825fefa8
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Fears of more $100 note blues - Trinidad and Tobago Newsday: TUCKED away near the end of the Central Bank’s late-March update on its multi-year strategic plan is ...
newsday.co.tt/2024/04/11/fears-of-more-100-note-blues/
Bank of England investigating claim Metro Bank put customers’ data at risk : Exclusive: Whistleblower raised concerns about security of in-branch coin-counter ...
theguardian.com/business/2024/mar/31/bank-of-england-investigating-claim-metro-bank-put-customers-data-at-risk
Fed likely to cut rates before ECB blinks, former BOE member says: The Federal Reserve is likely to cut rates before the European Central Bank does ...
cnbc.com/2024/04/11/the-fed-will-cut-rates-before-the-ecb-former-boe-deanne-julius-said.html
UK consumers struggle with bills despite easing housing costs: Housing costs are well past last summer’s peak, although affordability issues continue to hamper ...
euronews.com/business/2024/04/10/how-uk-consumers-are-struggling-with-bills-despite-easing-housing-costs
UK house prices fall for first time in six months: Prices fell in March with higher mortgage rates affecting affordability, the Halifax says
bbc.com/news/articles/cz9zle1973xo
Households to have £300 knocked off mortgage payments by end of year: Tracker mortgage holders could see monthly savings of around £300 due to the upcoming Bank ...
birminghammail.co.uk/news/cost-of-living/households-300-knocked-mortgage-payments-28942930
Wage and price expectations cool in UK companies, BoE survey shows: British companies' expectations for selling prices and wage increases in the year ahead ...
reuters.com/world/uk/wage-price-expectations-cool-uk-companies-boe-survey-shows-2024-04-04/
IMF warns BoE over keeping UK interest rates high due to fixed-rate mortgages: Risk of declining consumption, house price falls and defaults as tighter policy ...
theguardian.com/business/2024/apr/08/imf-bank-of-england-uk-interest-rates-fixed-rate-mortgages
UK lenders approve most mortgages since September 2022: British lenders approved the highest number of mortgages in February since September 2022 ...
reuters.com/world/uk/uk-lenders-approve-most-mortgages-since-september-2022-2024-04-02/
Gold hits record high: Why investors are turning to the precious metal: Gold prices have been boosted in the past few months due to increasingly sticky inflation ...
euronews.com/business/2024/04/02/gold-hits-record-high-why-investors-are-turning-to-the-precious-metal
Sterling hits one-week high vs dollar, focus on rally against Swiss Franc: Sterling edged higher against a weakening dollar and dropped versus the euro on ...
reuters.com/markets/currencies/sterling-hits-one-week-high-vs-dollar-focus-rally-against-swiss-franc-2024-04-04/
Economy: Consumers unhappy as prices, inflation remain high: Many Americans are in a sour mood about the economy for one main reason: Prices feel too high ...
apnews.com/article/inflation-deflation-prices-economy-eggs-cars-consumers-e3c816373344d54b2e6bdb4be5ed999a
Bank of England issues message to people applying for mortgage or remortgage : Mortgage approvals data released today comes with a backdrop of a "relatively ...
birminghammail.co.uk/news/cost-of-living/bank-england-issues-message-people-28924453
Liz Truss endorses Donald Trump to win US presidential election: Former British PM Liz Truss has endorsed Donald Trump to win this year's US presidential ...
saudigazette.com.sa/article/642114
Quick Glance: Liz Truss: From Premiership to Resignation in 49 Days
- Liz Truss became Prime Minister and resigned after just 49 days, despite her husband's prediction that 'it would all end in tears'.
- Truss assumed office on September 6, 2022, succeeding Boris Johnson, but faced early challenges and personal struggles.
- Despite implementing economic measures and facing political turbulence, Truss resigned after a mini-budget led to a pensions crisis.
- She reflects on her failed tenure, attributing blame to structural issues and drawing parallels to the controversial football manager Brian Clough.
UK Inflation Stronger Than Expected on Higher Fuel Prices: UK inflation slowed less than expected last month as fuel prices crept higher, underscoring the ...
bloomberg.com/news/articles/2024-04-17/uk-inflation-stronger-than-expected-on-higher-fuel-prices
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Analysts split on British rate cut timing, even as inflation falls: UK inflation figures brought good news with price rises falling to 3.2 per cent in March ...
businesspost.ie/news-focus/analysts-split-on-british-rate-cut-timing-even-as-inflation-falls/
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UK Is Beating US on Inflation Fight And May Cut Rates Sooner: Britain is starting to rein in inflation at a quicker pace than the US, underscoring a divergence ...
bloomberg.com/news/articles/2024-04-15/uk-is-beating-us-on-inflation-fight-and-may-cut-rates-sooner
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BOE May Be Able to Cut Interest Rates Before Fed, Andrew Bailey Suggests: Bank of England Governor Andrew Bailey hinted that the UK might be able to lower ...
bloomberg.com/news/articles/2024-04-16/bailey-hints-boe-might-be-able-to-cut-rates-before-fed-in-us
Mr Bates vs the Post Office sparks bitter fight over UK legal funding: Consumers caught in the middle as vested interests beef over how to fund legal cases ...
politico.eu/article/alan-bates-v-post-office-case-inspires-attempted-crackdown-on-uk-legal-funding/
How Iranian banks ‘linked to Tehran’s military’ are still operating in London: Senior Labour and Conservative politicians are calling for two Iranian state-owned ...
inews.co.uk/news/how-iranian-banks-linked-to-tehrans-military-are-still-operating-in-london-3012099
BOE's Lombardelli Opens Door to Bank Publishing Own Interest Rate Path: The Bank of England’s incoming Deputy Governor Clare Lombardelli opened the door to ...
bloomberg.com/news/articles/2024-04-16/lombardelli-opens-door-to-boe-publishing-own-interest-rate-path
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Wage growth eased slower than expected, but unemployment posted a surprisingly large jump, as the Bank of England considers when to start cutting interest ... Show more www.cityam.com/wage-growth-slightly-hotter-than-expected-as-bank-of-england-considers-interest-rate-cuts/ #wagegrowth #ukeconomy #interestrates #bankofengland
Oil settles down 3 per cent as demand worries outweigh Middle East supply risks: Brent futures for June settled down $2.73 at $87.29 a barrel, while U.S ...
theglobeandmail.com/business/industry-news/energy-and-resources/article-oil-prices-dip-as-demand-worries-outweigh-middle-east-supply-risks/
Out of Office: Ryanair’s housing splurge and new rugby sponsors: The Business Post gets you up to date with the big stories of the day
businesspost.ie/news/out-of-office-ryanairs-housing-splurge-and-new-rugby-sponsors/
Laughing all the way to the bank – why Brits derided ‘Laurel and Hardy’ line-up at Kilkenomics
businesspost.ie/news/laughing-all-the-way-to-the-bank-why-brits-derided-laurel-and-hardy-line-up-at-kilkenomics/
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Gold: How high are Germany's gold reserves and where are they stored?: The Deutsche Bundesbank kept the storage locations secret for decades ...
wiwo.de/politik/konjunktur/darueber-solltet-ihr-mal-schreiben-wie-hoch-sind-deutschlands-goldreserven-und-wo-lagern-sie/29751816.html
BOE may cut rates before the Fed as UK inflation creeps closer to 3%: Bank of England governor struck a different tone Tuesday, noting a ‘divergence’ between the ...
businesspost.ie/news/boe-may-cut-rates-before-the-fed-as-uk-inflation-creeps-closer-to-3/
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Ben Bernake’s Bank of England review paints a sobering picture of central banks: The former Fed chairman’s critical review finds that all central banks are ...
businesspost.ie/news-focus/ben-bernakes-bank-of-england-review-paints-a-sobering-picture-of-central-banks/
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The war between ‘Yimbys’ and ‘Nimbys’ won’t fix Britain’s housing crisis: Yimbys argue that the housing crisis could be solved by building new homes - but the ...
inews.co.uk/news/the-war-between-yimbys-and-nimbys-wont-fix-britains-housing-crisis-3010221
Others paying too dearly for Bank of England shortcomings: The Ben Bernanke review has reignited the debate over the extent to which the BoE’s failings have ...
heraldscotland.com/opinion/24255225.others-paying-dearly-bank-england-shortcomings/
Falling inflation: The ECB is likely to cut interest rates before the Fed: Once again, the ECB Governing Council meets to decide on interest rates ...
faz.net/aktuell/wirtschaft/ezb-zinssenkung-die-entscheidung-duerfte-noch-vor-der-fed-kommen-19639287.html
BOE’s Greene Says ‘Relentless’ US Consumers Outpace UK, Eurozone: Bank of England policymaker Megan Greene said the US is outperforming the UK and the Eurozone ...
bloomberg.com/news/articles/2024-04-12/boe-s-greene-says-relentless-us-consumers-outpace-uk-eurozone
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Traders Trim BOE Easing Bets to See Less Than Two Rate Cuts in 2024: Investors pared bets on monetary easing from the Bank of England and no longer fully price ...
bloomberg.com/news/articles/2024-04-11/traders-trim-boe-easing-bets-to-see-less-than-two-cuts-in-2024
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Out of Office: A very British sexting scandal: The Business Post gets you up to date with the big stories of the day
businesspost.ie/news/out-of-office-a-very-british-sexting-scandal/
Pictet and Jupiter Bet BOE Cuts First, Tout ‘Cheap’ UK Bonds: For investors betting the Bank of England will switch to interest-rate cuts before its peers in ...
bloomberg.com/news/articles/2024-04-10/pictet-and-jupiter-bet-boe-cuts-first-tout-cheap-uk-bonds
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People who make monthly mortgage payments warned 'it'll get worse': People with mortgage payments, credit cards to pay off and other household loans have seen ...
birminghammail.co.uk/news/cost-of-living/people-who-make-monthly-mortgage-28978372
Why there is not about to be a house price boom: Getting a mortgage to buy a home is still not possible for vast numbers of people
inews.co.uk/opinion/why-not-house-price-boom-3001815
Susan Delacourt: Mark Carney offers a preview of what he’d look like as Justin Trudeau’s successor — and what he’d stand for
thestar.com/politics/mark-carney-offers-a-preview-of-what-hed-look-like-as-justin-trudeaus-successor-and/article_cfa48cc8-f686-11ee-bd1c-7791adc095be.html
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Tesco grows profits and creates jobs amid price cutting: Tesco said it has won market share in the UK after cutting prices amid the surge in inflation which it ...
heraldscotland.com/news/24245325.tesco-grows-profits-creates-jobs-amid-price-cutting/
Bernanke Tips BOE Toward ‘Scenario Forecasts’ Over Fed Dot Plots: Ben Bernanke put the US Federal Reserve on the cutting edge of economics 12 years ago by ...
trib.al/lhY85z8
What is going on with the UK's labour market? 💼
Slack continued to grow in the labour market in March, a closely watched survey suggested ... Show more www.cityam.com/bank-of-england-should-loosen-its-grip-on-growth-as-labour-market-slack-grows/ #labourmarket #UK #employment #ukeconomy #economy #uknews #cityamnews #trendingnews
Why lower interest rates might not offer much support to the UK economy: One of the main reasons why economists are more optimistic is that the Bank of England ...
cityam.com/why-lower-interest-rates-might-not-offer-much-support-to-the-uk-economy/
Rightmove warns millions of homeowners they need to 'heed advice': Rightmove said the Thursday immediately before the Easter bank holiday weekend was the biggest ...
birminghammail.co.uk/news/cost-of-living/rightmove-warns-millions-homeowners-need-28939370
Cross-border fintech stands out in Y Combinator’s Winter 2024 cohort: Cross-border is hot right now, so it’s no surprise that one of the trends among Y ...
techcrunch.com/2024/04/05/cross-border-fintech-y-combinator-demo-day/
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