KPMG predicts "mild" UK recession in 2023
The Big Four accounting firm expects the UK's gross domestic product growth to halve this year and slow further in 2023
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Bank of England
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The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people. The Bank was established in 1694 to act as banker to the Government. We are still owned by the Government, but we set monetary policy independently.
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Week ahead features Capita, Bunzl, Moonpig, Petrofac and Hunting
With no major central bank meetings, the macroeconomic focus will be on the outlook for economic growth and of course inflation
Barclays ups challenge to Lloyds in UK mortgage sector
Barclays expects to add a £2bn portfolio of residential mortgages to its UK loan book this year
Gold is up by significantly more in sterling than in dollar terms, but that’s not necessarily good news for anyone
Gold is holding its own fairly well, as the dollar sweeps everything else before it
FTSE to fall to trough 'by end of 2023' as gilt yields rise faster
As other central banks try to wrestle inflation by raising interest rates faster and to higher levels than the Bank of England, this will hit the price of UK government bonds, sending yields higher
Use it or lose it - Britons have only 100 days to spend old £20 and £50 notes
There are still £14bn worth of paper notes in circulation - 300 million £20 banknotes and 160 million £50 notes
UK inflation hits 40-year high as food and fuel soar
Inflation is expected to climb even higher to around 11% this autumn.
Investments and investor services
Central banks could "wrongfoot" investors, Fidelity warns
Banks could put the brakes on monetary tightening to stop the economy careering off a fiscal cliff, investors are warned
FIVE at FIVE: FTSE losses lengthen, BoE raises interest rates, Asos issues profit warning, Apple sued for 'throttling' old phones, FCA makes lender plea
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
BoE rate rise: Typical tracker mortgage payments to rise by £27 a month
The Bank of England is expected to increase its bank rate to 1.25% from 1%.
Archive
FTSE 100 tanks 3% as markets go into tailspin over rates
The UK index of top shares finished down around 228.43 points, or 3.14%, at 7,044.98
What are the UK, US and Europe doing with interest rates?
Wednesday evening’s expected 0.75 percentage point increase in America, which would be the first since 1994, would be the third in as many months following 40-year high inflation in March
Inflation-linked bonds are an untested market with high but unproven promise
Inflation-linked bonds could help investors hedge against losses in savings, but when monetary easing puts a lid on inflation, their value will take a tumble
BoE and Fed both expected to hike rates but what they say will be key
If Bank of England hawks are in the ascendant it might help boost the pound from its recent lows, whereas a retreat could send sterling down to $1.20
Rishi Sunak under fire for £11bn extra cost of QE debt
It was the Bank of England’s decision to implement quantitative easing said The Treasury
Archive
FTSE 100 closes with hefty falls as Wall Street drops following US inflation shocker
At the close, the UK blue-chip index was down 158.69 points, or 2.1% at 7,317.52, above the day's low of 7,294.20 but well below the session peak of 7,476.21
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Bank of England to report on inflation on Friday
The two most important readings to track are the 12-month ahead index and the “more important” medium-term inflation expectations measure
UK economic growth to 'grind to a halt' as inflation and war on Ukraine weigh
This dreary outlook echoed the OECD's warning Britain’s growth in 2023 would be worse than all G20 countries excluding Russia
Analysts forecast further monetary stimulus after Boris ‘no-confidence’ vote
"This is unlikely to be the end of turmoil and the victory is not clear enough to draw a line under the past few months"
Archive
FTSE 100 closes weaker but off lows, mirroring Wall Street morning performance
At the close, the UK blue-chip index was down 9.29 points, or 0.1% at 7,598.93, above the day's low of 7,570.67 but below the session peak of 7,617.53
Pound spikes after vote of no-confidence called in PM Boris Johnson
Sterling’s rise reflected “hope that UK politics could be on the brink of pushing beyond scandal and distraction”, said one currency strategist
BAT, Wizz Air, AVEVA and CMC results in focus for coming week
Other updates are expected from Atrato Onsite Energy, Gooch & Housego, Marks Electrical, NewRiver REIT and Tate & Lyle
Archive
Banks fall as mortgage lending data indicates housing sector is finally feeling squeeze
Timelier data suggest mortgage approvals will continue to decline over the coming months, economists said
Echoes of the seventies in the soaring twenties
That's soaring as in soaring inflation, soaring debt and soaring dissatisfaction with politicians
Rishi Sunak to pay for £15bn cost of living package with 'windfall tax'
Sunak said the oil and gas sector is making extraordinary profits due to rising commodity prices following Russia’s war on Ukraine
UK inflation jumps to highest since records began
The rampant inflation "heaps more misery on households and highlights the pressure on the Bank of England to keep raising interest rates", said one economist
FTSE 100 breaks three-day winning streak as UK inflation hits 40 year high
The FTSE 100 index closed 1.07% lower as investors wrestled with red-hot inflation data and the biggest squeeze on the cost of living since the 1970s
Bank of England governor warns of 'apocalyptic' food prices
Ukraine is a major producer of wheat but has been unable to complete exports since the invasion by Russia
Downing Street plans for Northern Ireland protocol 'could add to inflation'
More Brexit drama is weakening the pound, with short positions reaching extreme levels
How are the world's leading economies faring in 2022?
A combination of soaring energy, food and transportation costs are the main driving factors, as well as China’s most recent Covid-19 lockdown that’s adding to the global supply chain woes
Archive
Malcy's Blog - Flash blog, Zephyr, i3, Harbour Energy.
Another flash blog today but as always any further comments will come later in the week.Zephyr EnergyZephyr has provided an update on first quarter 2022 hydrocarbon sales from its non-operated asset portfolio in the Williston Basin, North D
Archive
FTSE 100 ends at session low, dropping back as investors globally batten down the hatches
The UK blue-chip index closed down 171.36 points, or 23% at 7,216.58, the session low and well below the day’s peak of 7,391.59
Bitcoin and Ethereum sink just like wider markets
The sourness echoed around much of the crypto market, with an overwhelming 97 of the top 100 trading in negative territory
Archive
FTSE 100 ends "disappointing week" in the red as US jobs jump
The FTSE 100 ended Friday with a 1.54% decline as selling pressure continued across stock markets
Bank of England predicts double-digit inflation this year and recession in 2023
With most members of the MPC judging “some degree of further tightening” will be appropriate in coming months, financial markets indicated their displeasure
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Fuller Treacy Comment of the Day - Fed Hikes Rates up 5%, Politburo Meeting Brightens Mood for China Stocks, Rba Rate Rise Knocks Wind Out of ASX
Comment of the DayVideo commentary for May 3rd 2022A link to today's video commentary is posted in the Subscriber's Area. Some of the topics discussed include: stocks markets quiet ahead of Bank of England and Fed rate decisions, China rebo
US stocks close in the green after caution-driven day of trading ahead of Fed meeting
At the close, the Dow was up 67 points to 33,128 points. The S&P 500 gained 20 points at 4,175 points, and the Nasdaq was up 28 points, closing at 12,564 points
FTSE 100 turns around to end first trading day of May higher in an action-packed week
The UK blue chip index flip-flops in a week of key economic data and interest rate decisions
UK retail sales plunge as consumers cut back on food and petrol
Cost of living crisis sees bigger than expected fall in shop spending, as consumer confidence drops to its lowest level since financial crisis
Growing fears of recession in UK, US and Europe if central banks over-tighten
The IMF is expected to downgrade its global growth forecasts today
FIVE at FIVE: Balancing act for supermarkets, Johnson's future, inflation hits 30-year high and Polymetal shelves dividend…
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Inflation leaps to 30-year high of 7%, 'sealing the deal' on further interest rate rises
Price inflation is continuing to far exceed wage growth, leading to the biggest fall in the value of real wages since 2014
Tesco in focus on Wednesday immediately before UK inflation data
Tesco is the standout name in the diary for Wednesday.
Archive
Will inflation rise again in pre-Easter week? Tesco, JD Sport, ASOS and Deliveroo in focus too
It's a four-day week in the UK, with a bank holiday on Friday, while in the US the banks kick of a new earnings season
Inflation rises to 30-year high of 6.2%, giving Chancellor Rishi Sunak further food for thought
The print was slightly higher than expected, but not so ahead of forecast that the markets were inclined to panic. The FTSE 100 opened the day in the green
Spring statement 2022: firepower is available but will Chancellor hold back?
The Chancellor reportedly wants to hold off as many big giveaways as he can until the autumn, but he has plenty of firepower to alleviate the pressure of inflation for households
Archive
Lloyds, NatWest set to gain from further rate rises
British lenders from Lloyds Banking Group Plc to NatWest are set to benefit from further rises in interest rates as the Bank of England strives to curb inflation
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Lloyds, NatWest set to gain from further rate hikes
British lenders from Lloyds Banking Group Plc to NatWest are set to benefit from further rises in interest rates as the Bank of England strives to curb inflation
Cryptos mirror equity markets and remain flat
Ukraine's President Volodymyr Zelenskyy has signed a virtual assets bill legalising crypto
UK inflation to top 8% says Bank as rates rise for third month running
The Monetary Policy Committee voted 8–1 in favour of a 0.25% to 0.75%
FIVE at FIVE: Scottish Mortgage surges, BoE to hike interest rate, Cineworld prepares for results, Horizonte closes debt facility
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Has Ukraine war affected Bank of England mood on interest rates? - Thursday's agenda
Will the BoE ignore the war and put up interest rates again or decide we are suffering enough already
US Fed to lead the way on week of Western rate hikes
Expectations of 0.25% rate hike on Wednesday perceived as too cautious by some, but Ukraine crisis adds to dampened confidence
Remortgage rates climbed in last quarter as banks move swiftly limit options
More than 500 mortgage rates have been pulled in the last month, with interest rates set to rise
Bank of England governor calls for restraint on bank bonuses
The governor said wage rises would contribute to, not solve, the cost of living crisis
FTSE 100 ekes out a gain at the close, Wall Street still a sea of red
Markets are now in "wait and see" mode with regards to Russia's next move in the Ukraine crisis
Chancellor sees first surplus but debt servicing eats into margins
A £2.9bn borrowing surplus offset by highest borrowing rates since WWII
Lloyds, Barclays, Rolls-Royce, IAG all touch down in week ahead
Other FTSE companies reporting including HSBC, Genus, Rightmove, Smith & Nephew and Ted Baker
Divid-end in sight NatWest as government-owned company?
The expectation of the government cutting its shareholding and rising interest rates are changing the dynamic around the lender
FTSE closes well under water as Russia-Ukraine tension heats up
The FTSE 100 sank 1.7% on Monday to close at 7,532 points
UK sees fastest economic growth since World War Two
The economy increased by 7.5% during 2021 even with a contraction in December due to omicron
Archive
Bitcoin Notches Longest Rally Since September; Shiba Inu Jumps
The break above $43,000 could cause the current up move to target toward the $45,000 level, according to Nathan Batchelor, lead Bitcoin analyst for SIMETRI Research. “People are starting to feel a little more comfortable dipping their toes
Rising inflation set to hit UK recovery this year, economists warn
Economic forecasting group EY Item Club has cut its forecast for UK economic growth this year to 4.9% from 5.6%
Archive
FIVE at FIVE: Up and down tech, crypto to sponsor Manchester United, BoE says no big pay rise and expect another energy price hike...
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Bank of England governor sparks fury with pay rise comment
People face "a difficult period ahead", he said in an interview
Archive
ASX opens flat as Wall Street’s climb ends amid a Meta sell off, while interest rates are hiked and Europe’s oil terminals get hacked
“Westpac and ANZ currently have the lowest rates out of the big four banks, however, with the cost of fixed rate funding continuing to increase, both lenders are likely to be mulling over further rate hikes," Tindall said.
Investments and investor services
UK-focused equity funds see record outflows despite 30-year valuation low
"Political chaos in the UK may be colouring perceptions, but since this is not reflected in share prices, it is surprising that fund flows are taking a different course."
Households face £1,300 hit from interest rate, national insurance and energy hikes
The increases in mortgage rates coupled with NI and energy bill rises means disposable incomes are to nosedive from April, which will impact retailer’s sales and explains why they were trading in negative territory on Thursday, said analyst
BoE interest rate hike: What it means for investors and markets
Homeowners are set to face a triple financial whammy, with the interest rate climb raising mortgage payments, national insurance hike reducing real wages, and surging energy bills all set to squeeze budgets higher than ever
Bank of England confirms interest rate hike to 0.5% as budgets squeezed further
Homeowners are set to face a triple financial whammy, with the interest rate climb raising mortgage payments, national insurance hike reducing real wages, and surging energy bills all set to squeeze budgets higher than ever
Archive
FTSE 100 ends lower as BoE hikes rates
The Bank hiked interest rates as expected and also changed its guidance on the inflation rate, which it now expects to hit 7% this year
BoE interest rate hike: What it means for investors and markets
Financial markets are pricing in a 95% chance of UK interest rates rising by 0.25% to 0.5% on Thursday, with this seen as the first hike of four expected this year
Archive
Signs UK house prices starting to ease after strongest start to the year since 2005
Nationwide data showed a big jump for house prices while the Bank of England revealed strong mortgage lending numbers
FTSE 100 closes in the green as US stocks wane on economic data
The UK blue chip index in positive territory after the latest raft of economic data, but Wall Street makes mixed start
Archive
Shell, BT Group and Vodafone and Bank of England hike in the diary as February begins
Over in the US, investors will be looking out for results from Alphabet, Amazon, Meta, Spotify and Ford Motor
BoE interest rate hike: What it means for investors and markets
Financial markets are pricing in a 95% chance of UK interest rates rising by 0.25% to 0.5% on Thursday, with this seen as the first hike of four expected this year
Orange prices to squeeze higher as supply falters
One reason for the dwindling supply of oranges is a citrus disease, known as citrus greening, which is reducing the size of oranges and the number of fruits per tree
UK inflation takes centre stage with Entain and JD Wetherspoon also on the bill
Consumer prices will dominate the headlines but there are also some significant company updates
Archive
FTSE 100 ends lower as UK wage growth lags behind inflation
Investor confidence in UK economic growth dropped as inflation and a squeeze on incomes unsettled markets
'Britcoin' cryptocurrency poses significant risk according to House of Lords
The committee did however recommend The Bank of England continue to investigate 'Britcoin'
Bank of England urges banks to quantify climate risks properly
"From 2022, we will incorporate supervision of climate-related financial risks into our core supervisory approach," the central bank said in a letter to bank CEO
Archive
FTSE 100 ends higher after comments from Fed chair Powell ease rate rise fears
London's blue chips gain as US stocks higher midday
Archive
FTSE 100 closes with strong showing as Omicron, inflation fears fade
The blue-chip index closed above 7500 for the first time since February 2020
UK inflation set for highest rise in three decades next year, economists warn
Economists at Citigroup warned that headline inflation could hit 6.8% next year
Standard Chartered slapped with £46.5mln fine by Bank of England
The fine issued is the largest given by the PRA where it was only acting as a regulator
FTSE 100 finishes week in topsy-turvy style, Wall Street undecided on sell-off
Tesla and Nvidia are mounting a comeback for big tech stock
Archive
Bank shares jump as Bank of England raises interest rates
The bank's monetary policy committee said the effect of the Covid-19 Omicron variant on the economy was as yet unclear, with analysts saying the hike was a tacit admission that there should have been one a month ago
Archive
FTSE 100 soars at the end of the day on BoE decision
The UK's blue chip index saw a big jump at the close as the Bank of England signaled cautious optimism amid Omicron fears.
Hardware & electrical equipment
Bank of England interest rates decision and Daily Mail bid set Thursday's agenda
UK inflation rising to the highest in a decade has added more pressure on the Bank of England
FTSE 100 ends lower as consumer prices surge
The UK blue chip index falls as UK consumer price inflation jumps to 5.1% and US markets head south
Bank of England warns cryptocurrency assets could disturb the financial system
It is estimated that approximately 2.3mln people hold cryptos with an average of £300 per person
Britain's bank finances in tip top shape concludes latest stress test
Analysts expect a wave of cash handouts from the banks to follow the stress test results
Archive
Banks' capacity for dividend distributions will be determined at today's Bank of England stress tests
Britain’s big banks have around 27% of their market valuations available to fund shareholder distributions or for other uses, according to JPMorgan
Banks could face easing of mortgage affordability rules - report
At the moment, borrowers have to calculate whether customers will be able to afford an additional 3% interest rate charge after their initial mortgage deal ends
Archive
30-year and 40-year mortgages becoming more common in UK - report
The lender said fixed-for-term mortgages are already popular in some parts of continental Europe
Archive
FTSE 100 ends the day on a downward trend; Wall Street mixed as inflation concerns outweighs solid earnings
The UK blue chip index close to day's low while US markets head south after latest data
All eyeballs on inflation stats on Wednesday
Economists will be looking out for PPI, RPI and CPI numbers on Wednesday.
Bank of England and Treasury to consult on digital currency
The earliest date for launch of a UK CBDC would be in the second half of the decade
UK shares now worth a post-Brexit punt – JP Morgan
JP Morgan last year stopped the shorts and now reckons UK equities are too cheap.
Bank of England leaves interest rates unchanged, surprising financial markets
Financial markets overwhelmingly anticipated a rate hike, while half of economists were predicting a rise to 0.25%