Banks ignore Chancellor’s intervention and raise mortgage rates
High street mortgage lenders are still raising interest rates despite an emergency intervention by the Government to reassure markets.
ECONOMY
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ECONOMY
October 18, 2022 -
ECONOMY 
October 12, 2022 UK petrol prices rise for first time in three months: How much it will cost as diesel price also increases
Petrol prices are rising again for the first time in three months, dealing another blow to households grappling with the cost of living crisis.
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ECONOMY
October 10, 2022 Pension crackdown risks sparking wave of bankruptcies
Sweeping new rules designed to prevent a repeat of the BHS pensions scandal will cost businesses £30bn and push hundreds of companies to the brink of collapse, the Government has been warned.
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ECONOMY
October 6, 2022 Bank confirms pension funds almost collapsed amid market meltdown
Pension funds managing vast sums on behalf of retirees across Britain came close to collapse amid an “unprecedented” meltdown in UK government bond markets after Kwasi Kwarteng’s mini-budget, the Bank of England has said.
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ECONOMY
October 5, 2022 Fears grow over oil price as Opec+ agrees to bigger than expected output cuts
The Opec oil cartel and its allies have agreed to a bigger than expected cut in oil production targets despite significant pressure from the US.
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ECONOMY
October 1, 2022 Best week for pound since 2020 as market recovers from mini-Budget crash
The pound had its best week since July 2020 after a sharp recovery from a crash in the wake of the mini-Budget that sent it to record lows.
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ECONOMY
September 30, 2022 Energy firms extend ‘meter reading day’ deadline
Energy suppliers are scrambling to avert a repeat of the meter reading chaos in March which saw websites crash as customers raced to submit readings before prices soared.
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ECONOMY
September 28, 2022 Bank of England takes emergency action to prevent ‘material risk’ to UK financial stability
The Bank of England has launched a temporary bond-buying programme as it takes emergency action to prevent “material risk” to UK financial stability.
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ECONOMY
September 23, 2022 Borrowing costs surge as Bank of England forges ahead with bond sale
Public borrowing costs have jumped to their highest level since 2011 as markets brace for a record flood of debt from £40bn of gilt sales by the Bank of England and Kwasi Kwarteng’s sweeping tax cuts.
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ECONOMY
September 14, 2022 Bank of England will not take foot off throttle despite drop in inflation
The drop in inflation from 10.1% in July to 9.9% last month is not going to trouble the Bank of England’s policymakers when they meet next week to set interest rates. Its monetary policy committee (MPC) is on a mission to increase the cost of borrowing to bring down inflation to 2%. Prices growth that sticks at […]
