Reynolds: Rates unlikely to be cut despite fall in inflation
Video Credit: ODN - Duration: 00:49s - Published
Reynolds: Rates unlikely to be cut despite fall in inflation
Jonathan Reynolds says he welcomes last month’s drop in inflation but insists people are ‘still worse off after 14 years of Conservative government’.
Speaking on the day the Office for National Statistics confirmed inflation fell to 3.4% in February, the shadow business secretary also suggested a cut in interest rates was unlikely, due to ongoing ‘uncertainty, particularly around the Red Sea’.
Report by Covellm.
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UK retail sales unexpectedly declined last month in a blow to the sector during the all-important festive shopping season, new official figures show. The volume of retail sales – which measures the quantity bought – fell by 0.3% in December, the Office for National Statistics said. Retail analyst Kate Hardcastle said that the flop in sales was down to "savvy" customers who "cut corners" to save money. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves says news that the economy grew by 0.1% in November is "welcome, albeit modestly". The chancellor adds the latest Office for National Statistics figures show "we need to go further and faster in delivering growth to make people in Britain better off". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The chief secretary to the Treasury has hailed an unexpected dip in inflation, but admits that the cost of living "is still a pressure for families across the country and there's more work to do". Darren Jones adds the latest Office for National Statistics figures, "shows that the prime minister's plan for change is working". Inflation has fallen to 2.5% in December from 2.6% in November, which will come as a relief to Chancellor Rachel Reeves, who has faced criticism given rising government borrowing costs and a slump in the value of the pound. The latest figures could open the door for an interest rate cut next month. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chief Secretary to the Treasury Darren Jones says the Labour government is still committed to stimulating economic growth despite figures from the Office of National Statistics showing the economy recorded no growth in the third quarter of this year. Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The UK economy unexpectedly contracted in October, marking two months in a row of negative growth for the first time since the pandemic, new figures show. Chancellor Rachel Reeves said she was “disappointed” by the data after a weak month for pubs and restaurants dragged on growth amid some uncertainty ahead of the autumn Budget. The Office for National Statistics said gross domestic product contracted 0.1% in October. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Houthi movement in Yemen has announced it will halt its attacks on Israeli and US vessels in the Red Sea if the ceasefire agreement between Israel and Hamas is upheld. This significant declaration comes ahead of the anticipated truce set to take effect soon. The Houthis, known for their military operations targeting Israeli-linked ships in the Red Sea, have pledged to end these hostilities in support of the Gaza ceasefire. Their move marks a potential shift in regional dynamics, aligning with international efforts to de-escalate tensions. With the ceasefire between Israel and Hamas about to be tested, the Houthis' commitment could play a crucial role in the broader geopolitical landscape.
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Yemen's Armed Forces have launched precision strikes targeting Israel's strategic Eilat region and the American aircraft carrier USS Harry S. Truman in the Red Sea. The ballistic and cruise missile operations, announced by Brigadier General Yahya Saree, marked a significant escalation in the region. These actions are in solidarity with Palestinians amid Israel's ongoing Gaza conflict. Saree warned of further decisive operations if aggression continues during the Gaza ceasefire. Watch the full report for updates on Yemen's stance, regional tensions, and global reactions.
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The Yemeni Houthi group has escalated tensions with a series of bold military operations, targeting both the United States and Israel amid ongoing regional conflicts. In their seventh attack on the US aircraft carrier USS Harry S. Truman, the Houthis deployed advanced drones and missiles in the northern Red Sea, demonstrating their growing military capabilities.
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Tensions between the U.S. and Yemen have reached a boiling point as American bombers launched a series of airstrikes on Yemen’s northwestern Amran province, specifically targeting the Harf Sufyan district. This escalation follows a recent strike by Houthi forces on a U.S. warship in the Red Sea, marking the sixth such attack within a month. Houthi leader Abdul-Malik al-Houthi had warned that military operations in support of Gaza would continue until Israeli aggression in the Palestinian territories ceases.
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The Houthis have launched their sixth deadly attack on the USS Harry Truman in the Red Sea within a month, using bomb-laden drones. The latest assault occurred on Wednesday, as tensions continue to rise between the Yemeni rebel group and U.S. forces. The Houthi military spokesperson, Yahya Sarea, claimed the operation was a response to U.S. airstrike preparations against Yemen, and vowed further actions until the conflict in Gaza ceases. Despite air defense efforts, the attack caused explosions in the area, adding to the ongoing military tension. This marks another escalation in the ongoing regional conflict, as the Houthis expand their focus on U.S. warships and Israeli-linked shipping.
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The energy secretary has stressed that a third runway at Heathrow Airport would be delivered in line with the government's plans on reducing carbon emissions. Ed Miliband said: "This government has shown global leadership on the climate crisis since we came to power" and that "any decision on aviation expansion will have to meet our carbon budgets and local environmental standards". Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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