News And Announcements
Surge in interest payments hits public debt
Public sector borrowing exceeded forecasts in May, official figures showed on Thursday, after surging inflation pushed up debt interest costs.
Fed strongly committed to returning inflation to 2.0 per cent, Powell says
The head of the US central bank said the Federal Reserve was "strongly committed" to reining in inflation and believed that further rate increases would be "appropriate" and that policy decisions would be made meeting by meeting.
Ofgem accused of failing to build a resilient energy market
Households are facing steeply higher energy bills after Ofgem failed to build a resilient supplier market, parliament’s spending watchdog has found.
UK house prices jump 12.4% in April - ONS
UK house prices grew 12. 4% in the year to April to a new record high, according to data released on Wednesday by the Office for National Statistics.
UK inflation hits fresh 40-year high in May
UK inflation rose to a fresh 40-year high in May as energy and food prices continued to surge, according to figures released on Wednesday by the Office for National Statistics.
UK manufacturing sector sees output slow - CBI
Growth in manufacturing output eased last month, a closely-watched survey showed on Tuesday, while price expectations fell to a nine-month low.
Regulator to probe rising card fees
The UK payments regulator is to investigate the fees set by Mastercard and Visa following a jump in card charges.
Annual grocery bills to soar by £380 - Kantar
The average annual grocery bill is set to rise by nearly £400 this year, according to research published on Tuesday, as surging inflation continues to push up prices.
Eurozone construction activity eases in April
The Eurozone’s construction sector faltered in April, official data showed on Monday.
Sunny weather boosts retail footfall
Footfall across all UK retail destinations jumped last week, industry data showed on Monday, boosted by the weather.
German producer prices surge
Producer prices continued to soar in Germany last month, official data published on Monday showed, driven by the growing cost of energy.
China keeps key lending rates unchanged
The People’s Bank of China kept its main lending rates unchanged on Monday, in line with expectations.
House prices reach another record, although growth slows
The price of houses coming to market in the UK hit a fifth consecutive record on Monday, although slowing growth saw the speed of the rise moderate significantly from previous months.
CMA appoints Sarah Cardell as interim CEO
The Competition and Markets Authority said on Friday that it has appointed Sarah Cardell as interim chief executive.
BOJ stands pat on rates, maintains dovish stance
The Bank of Japan bucked the trend on Friday by keeping interest rates on hold and maintaining a dovish stance.
Bank of England lifts interest rates to 1.25%
The Bank of England hiked interest rates by 25 basis points on Thursday to 1. 25% - the highest level in 13 years - amid surging inflation.
Centrica expands winter gas supply deal with Norway's Equinor
Centrica announced a major agreement with Norwegian state energy giant Equinor on Thursday, to deliver an additional one billion cubic metres of gas supplies to the UK for each of the next three winters.
Swiss National Bank unexpectedly hikes rates
The Swiss National Bank unexpectedly lifted interest rates on Thursday for the first time in 15 years.
UK lenders told to be 'flexible' with struggling borrowers by FCA
The UK’s financial regulator on Thursday warned UK lenders to make a greater effort help borrowers struggling amid the cost-of-living crisis, including offering payment holidays and waiving interest for those most at-risk.
Brexit, Ukraine war set to push UK food prices up 15% - IDG
British food prices are set to surge 15% this summer and will remain high for at least a year, in a further blow to hard-pressed consumers already struggling with the cost-of-living crisis, according to a report released on Thursday.