News
Bank of England can tolerate inflation above 2% target, says Bailey
18+ min ago (264+ words) The Governor of the Bank of England has said that allowing inflation to remain above target levels for a period is "appropriate" in the face of uncertainty and weakness in the economy. Andrew Bailey told an audience in Reykjavik, Iceland,…...
Iran war hit to UK growth less than feared but inflation still to rise " IMF
1+ week, 4+ day ago (511+ words) Anna Wise, Press Association Business Reporter Growth in the UK economy will be stronger this year than previously thought but the Iran war continues to dampen the outlook, with the cost of living set to rise and borrowing costs kept…...
UK inflation rate set to fall as lower household energy bills offset fuel surge
2+ week, 2+ hour ago (458+ words) Anna Wise, Press Association Business Reporter UK inflation is set to have eased last month as a drop in household energy bills offset a jump in fuel prices but experts warned of turbulence ahead as the Iran energy price shock…...
UK government borrowing costs hit 28-year high on leadership uncertainty
2+ week, 3+ day ago (434+ words) UK long-term borrowing costs have surged to a fresh 28-year high and the pound weakened as Prime Minister Sir Keir Starmer's leadership comes under increasing pressure. The yield on 30-year UK government bonds " also known as gilts " jumped as much…...
Job losses forecast for south Wales linked to fallout from Iran war
2+ week, 4+ day ago (671+ words) South Wales is expected to suffer some of the worst job losses in Britain as the economic fallout from the Iran war continues to hit manufacturing and construction industries, according to a new report. Economic forecasters at the Item Club…...
Builders hit by surging costs of fuel and materials as output drops
2+ week, 5+ day ago (397+ words) Nation. cymru - Do Not Process My Personal Information Builders faced a steep drop in business activity last month as firms were hit by rapidly rising costs, a survey shows. Experts said construction companies were being squeezed by higher energy prices…...
Potential opportunities for first-time buyers as house price growth slows
2+ week, 5+ day ago (752+ words) Annual house price growth halved in April compared with March, as rises in living costs have led to more caution among some households, according to an index. The weakening in house price growth could present some opportunities for people looking…...
Going out" costs rise by 12% on average in 2 years, research reveals
3+ week, 6+ hour ago (899+ words) The cost of "going out" has increased by 12% on average over the last 2 years according to new research. Due to increasing costs, Brits have had to be more frugal with their finances. Eating out (41%), nights out (31%), and drinking in pubs…...
Iran war could see 5. 8% inflation and cost Treasury up to "8bn a year " report
3+ week, 1+ day ago (609+ words) The Iran war could cost the Treasury up to "8 billion a year through higher debt interest payments and lower tax revenues, according to a report. Inflation could peak as high as 5. 8% if the conflict in the Middle East ends up…...
Challenging times" for homebuyers " mortgage affordability tightest since 2008
3+ week, 3+ day ago (487+ words) Mortgage affordability for homebuyers was at its tightest since 2008 last year, according to an industry body. Homebuyers across the UK typically spent just over a fifth (21. 3%) of their gross income on their mortgage payments last year, the highest level since…...