Bank of England governor to join Reeves on key China visit
Saturday, 21 December 2024 Andrew Bailey, the Bank of England governor, will join Rachel Reeves on a visit to China next month aimed at strengthening financial services trade ties between the two countries.
The Bank of England has kept interest rates on hold at 4.5%, warning that US President Donald Trump's trade war has intensified global economic uncertainty. The Bank says there are indications an increasing number of companies plan to let workers go when national insurance contributions rise next month, which Governor Andrew Bailey says is a cause for concern. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Bank of England expected to pause rate cuts despite contracting output
Policymakers find themselves in a tight spot ahead of Thursday’s rate decision, with growth remaining sluggish and inflation stubborn.
READ MORE : http://www.euronews.com/2025/03/18/bank-of-england-expected-to-pause-rate-cuts-despite-contracting-output
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Credit: euronews (in English) Duration: 04:34Published
The Bank of England has cut interest rates to 4.5%, down from 4.75%. That means the interest rate is at its lowest level since June 2023, meaning the cost of borrowing has fallen to its lowest point in more than 18 months. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves confirmed the UK is currently in “intense negotiations” with the US over tariffs “across the board”. The Chancellor said she “does not want to see tariffs go up”, highlighting her support for “free and open trade”. Report by Faragt. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves has visited Wellington Barracks in central London after announcing in her Spring Statement that defence spending will increase by 2.5% in GDP. The chancellor and the defence secretary John Healey were shown the first AI-powered strike drone, as they learnt about the work of people on the strategic command's innovation unit. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The chancellor says house building commitments in her Spring Statement will benefit young people and that she is "not in favour of national service". Speaking to ITV News, Rachel Reeves adds watching a Sabrina Carpenter concert in a box was "the right thing to do" given her security needs. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves has outlined her plans to "strengthen our nation's defences", by increasing defence spending to 2.5% of GDP and to build 1.5 million new homes. The chancellor acknowledges that the OBR has downgraded the UK's growth forecast for 2025 from 2% to 1%, but adds, "it has upgraded growth for next year and every year after that". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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