Jobs market - not Brexit - to blame for UK being inflation outlier, Bank of England boss says
Wednesday, 28 June 2023 The governor of the Bank of England, which has raised interest rates to a 15-year high, has said the UK labour market and not Brexit is to blame for stubbornly high inflation.
Chief Cashier of the Bank of England Sarah John has welcomed the new bank notes featuring a portrait of His Majesty The King. The King welcomed Mrs John and Governor of the Bank of England Andrew Bailey to Buckingham Palace, where he was presented with £5, £10, £20 and £50 notes. These are the first notes which feature the image of His Majesty. Mrs John said it's "a great pleasure to be able to show the King what he's going to look like on the bank notes of the future." Mrs John revealed the bank notes will be released to the general public on the 5th of June. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The King welcomed Bank of England Governor Andrew Bailey to Buckingham Palace, who presented him with the first bank notes featuring his portrait as monarch. The portrait of His Majesty which appears on the notes is based on a portrait that was provided by the Palace to the Bank of England.
Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Bank of England has voted to keep interest rates unchanged, but showed what was perhaps the clearest sign in years that cuts could come in the months ahead. Bank governor Andrew Bailey said the economy is “not yet at the point” where rates can be lowered, but things are “moving in the right direction”. For the first time since September 2021, no-one on the nine-person decision-making body that sets interest rates voted for an increase.
Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chancellor Jeremy Hunt announces UK inflation fell to the lowest level in more than two years, to 3.4%. He would not be drawn on whether the fall would allow him to announce pre-election tax cuts in an autumn statement. Mr Hunt said: “What I’m really saying is that as inflation gets closer to its target, that opens the door for the Bank of England to consider bringing down interest rates, that brings down mortgage rates, that makes a very big difference. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Pint-sized bottles of wine will be allowed on UK shelves from autumn under new post-Brexit trade rules - but doubts have been raised over their demand. Sky News
Roughly 80% of cut flowers in the UK are sourced from the Netherlands, according to the British Florist Association, and post-Brexit trade rules are making sellers nervous.
Credit: euronews (in English) Duration: 01:11Published
Border checks on food and plant imports will add billions of pounds to the cost of doing business with the European Union, industry figures have warned. Sky News
Governor Andrew Bailey insists that the Bank of England is not “desiring a recession” after he raised interest rates to five percent, an increase of half a point, saying “we will do what is..
Federal Reserve , May Pause Aggressive , Rate Hikes.
NBC reports that with low unemployment and high
inflation, the Federal Reserve is still likely to
increase interest rates to try and cool the..
Credit: Wibbitz Top Stories Duration: 01:31Published
At a recent Matheson insights event, Brexit Revisited: London Calling, an expert panel considered some specific Brexit-related legal developments under the... Mondaq
Within our publication 'Meet the Members- Europe' our members discuss the complex climate and strong frameworks found within Europe and how these are affecting... Mondaq