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of england will have inflation be wil below target >> how is the bank of england view recent economic reports with the return to moderate growth in the uk pmi is better than expected and construction the pmi hitting a 14-month high. the goal is 2% inflation however, generally, when you see economic re-acceleration, that leads to more inflation. >> one thing we are seeing is while growth is increasing, the labor market is loosening. we feel that will feed into weaker wage growth we expect that to come down for the course of the year we see other costs coming down, particularly labor costs and energy passing through the supply chain ultimately helping the uk get back to the 2% mark. >> economic growth with fewer jobs how often does that happen >> that is an unusual set of ev events we have been hit by a big shock and one thing that does look to be the case is firms held on to labor during the pandemic. that is shaking out as growth improves there is loosening in the labor market with mismatch of the pandemic easing. it is all generating loosening in the labor market. that is what the ba
of england will have inflation be wil below target >> how is the bank of england view recent economic reports with the return to moderate growth in the uk pmi is better than expected and construction the pmi hitting a 14-month high. the goal is 2% inflation however, generally, when you see economic re-acceleration, that leads to more inflation. >> one thing we are seeing is while growth is increasing, the labor market is loosening. we feel that will feed into weaker wage growth we...
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May 9, 2024
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the bank of encland. ., ., ., england. sarah hewin, head of research for _ england. sarah hewin, head of research for you _ england. sarah hewin, head of research for you europe - england. sarah hewin, head of research for you europe and i england. sarah hewin, head of- research for you europe and americas at standard chartered bank, thank you very much. finally to china, as the head of public relations at the search engine giant baidu has been caught up in a social media storm over work work—life comments made online. qu jing apologised after her comments glorifying a work—till—you—drop culture sparked a public outcry. the bbc�*s china media analyst, kerry allen, has been following the story. qujing, as she is known in china, posted a series of videos on china's version of tiktok. i suspect they were meant to be edgy, they were talking about work culture, being a woman in the workplace, general work ethics. but yes, she was advocating the idea of working until you drop, so saying things like, keep your phone on
the bank of encland. ., ., ., england. sarah hewin, head of research for _ england. sarah hewin, head of research for you _ england. sarah hewin, head of research for you europe - england. sarah hewin, head of research for you europe and i england. sarah hewin, head of- research for you europe and americas at standard chartered bank, thank you very much. finally to china, as the head of public relations at the search engine giant baidu has been caught up in a social media storm over work...
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May 9, 2024
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of england.— this past interest rate hikes on the bank of england. yes, certainly not a return to — bank of england. yes, certainly not a return to those _ bank of england. yes, certainly not a return to those record _ bank of england. yes, certainly not a return to those record low- bank of england. yes, certainly not a return to those record low rates l a return to those record low rates we saw in recent years. jane foley, always good to talk to you, thank you, jane foley at rabobank. a former employee of boeing's biggest supplier has claimed that sections of 737 max aircraft regularly left its factory with serious defects. spirit aerosystems builds the fuselage for the 737 max. they are then shipped to boeing's own plant for final assembly. speaking publicly for the first time, the former quality inspector told the bbc that some managers actively tried to discourage him from flagging up flaws in half—finished planes. 0ur reporter theo leggett asked him just how many problems he would typically find on aircraft reaching the end of the productio
of england.— this past interest rate hikes on the bank of england. yes, certainly not a return to — bank of england. yes, certainly not a return to those _ bank of england. yes, certainly not a return to those record _ bank of england. yes, certainly not a return to those record low- bank of england. yes, certainly not a return to those record low rates l a return to those record low rates we saw in recent years. jane foley, always good to talk to you, thank you, jane foley at rabobank. a...
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May 9, 2024
05/24
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that is why may be the bank of england has held off cutting just yet. the world forecast markets investors, economists, had initially at the start of the ebb and expecting the bank to start cutting rates by now but the economic picture is changing slightly and what we have seen in america is a similar thing. they are holding off cutting rates at the moment because of the economy and inflation is not coming down as quickly as they thought. yes, rates are on hold right now in the uk but when we get the detail will get an indication of whether a rate cut is coming injune or may be august but most definitely by the end of the year. ben. or may be august but most definitely by the end of the year.— by the end of the year. ben, stay with us and _ by the end of the year. ben, stay with us and we _ by the end of the year. ben, stay with us and we will— by the end of the year. ben, stay with us and we will come - by the end of the year. ben, stay with us and we will come back i by the end of the year. ben, stay with us and we will come back to | by the end o
that is why may be the bank of england has held off cutting just yet. the world forecast markets investors, economists, had initially at the start of the ebb and expecting the bank to start cutting rates by now but the economic picture is changing slightly and what we have seen in america is a similar thing. they are holding off cutting rates at the moment because of the economy and inflation is not coming down as quickly as they thought. yes, rates are on hold right now in the uk but when we...
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May 10, 2024
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bank of england and ecb. beyond that, remember, you've had a pounding on the ftse over the last year and a half because of the lack of depth in the markets, which has pushed down relative valuations. versus ecb, i think it is six of one and half a dozen of the other, the others will pick their spots in indices and company by company basis. on a relative basis, but markets look relatively cheaper than a lot out there. lizzy: given raymond james is one of the world's largest private wealth advisors, another long-term question. just how much more of the money do expect to be allocated in private equity by the end of the decade? sunaina: we are seeing a secular, once in a generation move from a high net worth and ultra high net worth individuals into alternatives at-large, especially private equity, infrastructure, private credit, and so on. that's because individual investors are saying they too need to manage their portfolios away from just a traditional equity bond story. there is a big tailwind shift into add
bank of england and ecb. beyond that, remember, you've had a pounding on the ftse over the last year and a half because of the lack of depth in the markets, which has pushed down relative valuations. versus ecb, i think it is six of one and half a dozen of the other, the others will pick their spots in indices and company by company basis. on a relative basis, but markets look relatively cheaper than a lot out there. lizzy: given raymond james is one of the world's largest private wealth...
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May 10, 2024
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the bank of england say they _ pace of growth. the bank of england say they need - pace of growth. the bank of england say they need to i pace of growth. the bank of. england say they need to see more evidence and more data. there are one or two datasets they are concerned about and one of those is the job figures. take us through that. there is concern at the bank of england that the labour force survey used in the uk to calculate the unemployment rate is struggling for from a poor response rate. that sounds quite technical but what that, the problem is that does not give a great message to the bankers as to what the appropriate interest rate is. is the economy going up or is it steady or is it declining? there is uncertainty on that and similarly on the wages picture. it is a volatile figure. essentially a bit more weight, not so much onjobs data but on services inflation which is a decent proxy because services is composed of prices and composed by wages. that may give a better view of what the underlying inflation is in the uk. ., ~ underlying inflation is in the uk. ., ~ , und
the bank of england say they _ pace of growth. the bank of england say they need - pace of growth. the bank of england say they need to i pace of growth. the bank of. england say they need to see more evidence and more data. there are one or two datasets they are concerned about and one of those is the job figures. take us through that. there is concern at the bank of england that the labour force survey used in the uk to calculate the unemployment rate is struggling for from a poor response...
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May 9, 2024
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that is something that we are waiting to see whether the bank of england will reveal any signs of in their report today. the bank raised and then kept interest rates at a high level in an attempt to slow the pace at which consumer prices have been rising. and ease the cost of living. the theory behind increasing interest rates to tackle inflation is that by making borrowing more expensive, more people will then cut back on spending and that leads to demand for the goods falling and price rises easing. but it's a balancing act as high interest rates can harm the economy as businesses hold off on investing in production and jobs, prices starting to rise quickly as demand for goods increase when covid related restrictions were lifted. energy and food prices then soared following russia's invasion of ukraine. it is a reminder that events that go on around the world do affect the cost of living here in the uk as well. that invasion of ukraine lead to inflation peaking at 11.1% in october 2022. that was the highest rate in 14 years. the bank's base interest rates dictates the rate set by h
that is something that we are waiting to see whether the bank of england will reveal any signs of in their report today. the bank raised and then kept interest rates at a high level in an attempt to slow the pace at which consumer prices have been rising. and ease the cost of living. the theory behind increasing interest rates to tackle inflation is that by making borrowing more expensive, more people will then cut back on spending and that leads to demand for the goods falling and price rises...
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May 9, 2024
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some of what the bank of england watch more closely, inflation of the services, like hospitality, for example, and wage growth. so there is a bit of caution there but certainly the bank of england does seem to be getting more optimistic. white and what will be interesting as we will get some more detailfrom the bank interesting as we will get some more detail from the bank of eglin today. also what they tell us about what they are thinking. there is a real divide opening up between what is happening in the us and in parts of europe and the uk?— happening in the us and in parts of europe and the uk? there is. i think that us distinction _ europe and the uk? there is. i think that us distinction is _ europe and the uk? there is. i think that us distinction is very _ that us distinction is very important because andrew bailey, the governor, has been saying, the situation here is quite different to the us, where inflation has been coming down less quickly than expected. i think that will be the messaging from the bank today. you mention the divided committee and i think what that means
some of what the bank of england watch more closely, inflation of the services, like hospitality, for example, and wage growth. so there is a bit of caution there but certainly the bank of england does seem to be getting more optimistic. white and what will be interesting as we will get some more detailfrom the bank interesting as we will get some more detail from the bank of eglin today. also what they tell us about what they are thinking. there is a real divide opening up between what is...
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May 10, 2024
05/24
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the news comes after the boss of the bank of england, andrew bailey, said the economy had turned a corner, but wasn't yet in a strong recovery. for more on this i'm joined now byjackie bowie, head of europe at chatham financial. where is this growth coming from? the good news is the surprise upside in gdp was actually very broad—based. if you look across the different components of gdp we saw a good recovery in the service sector activity. actually good recovery in consumer spending as well because obviously that's been a big focus with the cost of living issue and of course then with inflation that we have seen over the last year as well. so i pretty broad—based recovery and again it took some economists by surprise this morning. are you breaking out the champagne now, are the recession time is completely behind us? it certainly looks like we _ completely behind us? it certainly looks like we have _ completely behind us? it certainly looks like we have exited - completely behind us? it certainly looks like we have exited this - looks like we have exited this recession that we saw jus
the news comes after the boss of the bank of england, andrew bailey, said the economy had turned a corner, but wasn't yet in a strong recovery. for more on this i'm joined now byjackie bowie, head of europe at chatham financial. where is this growth coming from? the good news is the surprise upside in gdp was actually very broad—based. if you look across the different components of gdp we saw a good recovery in the service sector activity. actually good recovery in consumer spending as well...
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the bank of england has month. the bank of england has decided to hold borrowing costs at the same level at 5.25% for a sixth time, but the governor andrew bailey, says things are moving in the right direction with inflation set to fall to its 2% target between april and june. jeremy hunt, though, believes it's better not to take risks with inflation. >> i welcome the fact that the bank of england has obviously thought about this very hard. >> they take this decision independently and i would much rather that they waited until they're absolutely sure. >> inflation is on a downward trajectory and rushed into a decision that they had to reverse at a later stage. what we want is sustainable , low we want is sustainable, low interest rates. and i think what's encouraging is that the bank of england governor, for the first time has expressed real optimism that we're on that path. >> labour's new mp , natalie >> labour's new mp, natalie elphicke, has apologised for comments she made about sexual assault . assault. >> the
the bank of england has month. the bank of england has decided to hold borrowing costs at the same level at 5.25% for a sixth time, but the governor andrew bailey, says things are moving in the right direction with inflation set to fall to its 2% target between april and june. jeremy hunt, though, believes it's better not to take risks with inflation. >> i welcome the fact that the bank of england has obviously thought about this very hard. >> they take this decision independently...
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May 10, 2024
05/24
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why are the bank of england not cutting? with this momentum and momentum and growth and recovery coming through, thatis growth and recovery coming through, that is potentially less pressure. but the market is definitely pressing in uk rate cuts this year. how quickly they will come and how many there will be is the big question. but look out for thatjune meeting, where there is probably a 50-50 meeting, where there is probably a 50—50 chance they will put that first 25% two point basis through. and at the next couple of hours we get a better idea of when interest rates might be coming down here in the us. several policymakers are giving speeches today, and we get a
why are the bank of england not cutting? with this momentum and momentum and growth and recovery coming through, thatis growth and recovery coming through, that is potentially less pressure. but the market is definitely pressing in uk rate cuts this year. how quickly they will come and how many there will be is the big question. but look out for thatjune meeting, where there is probably a 50-50 meeting, where there is probably a 50—50 chance they will put that first 25% two point basis...
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May 22, 2024
05/24
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living, and heading towards the bank of england's targets. let's take a look at the numbers. in february, inflation was running at 3.4% — it then came down to a two—and—a—half—year low of 3.2% in march, and now analysts are predicting inflation could come down to the bank of england's target rate of 2% for april. but households and businesses may not feel any better off in the short term, as ben king reports. the recipes haven't changed in 90 years in this traditional bakerin 90 years in this traditional baker in west sussex, but the cost of their ingredients has. flour prices, meat prices, energy prices all up. the cost of fat has doubled. that has put the squeeze on profits, but the end is in sight.— the end is in sight. prices aren't continuing - the end is in sight. prices aren't continuing to - the end is in sight. prices i aren't continuing to increase that much. they definitely aren't coming down, that doesn't happen very often, but it does seem that things have plateaued a bit, and i'm pleased to see that the pressure coul
living, and heading towards the bank of england's targets. let's take a look at the numbers. in february, inflation was running at 3.4% — it then came down to a two—and—a—half—year low of 3.2% in march, and now analysts are predicting inflation could come down to the bank of england's target rate of 2% for april. but households and businesses may not feel any better off in the short term, as ben king reports. the recipes haven't changed in 90 years in this traditional bakerin 90 years...
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May 9, 2024
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the dynamic with the two of them if there is a cut. >> ahead of the bank of england meeting, investors are negative with the outlook for sterling. we have sterling/dollar at 1.24. this is significant because some people actually expect further weakness when it comes to sterling as we are likely to see a divergence with the rate cuts when you compare the bank of england and the fed. at this stage, it is important to understand what we hear from the central banks, but some are predicting we might see parity reaching cable here. >> a lot of talk in the recent days silvia, thank you. >>> we turn attention to the developing story in the middle east with president biden looking to draw a red line on israel with the ground war in gaza and the future of the financial support from the united states. dan murphy has more from dubai on this story. dan. >> reporter: frank, good morning. these are the strongest comments president biden has made to israel yet the president has made it clear that the united states will stop sending bombs and artillery to israel if it goes ahead with the major invasion
the dynamic with the two of them if there is a cut. >> ahead of the bank of england meeting, investors are negative with the outlook for sterling. we have sterling/dollar at 1.24. this is significant because some people actually expect further weakness when it comes to sterling as we are likely to see a divergence with the rate cuts when you compare the bank of england and the fed. at this stage, it is important to understand what we hear from the central banks, but some are predicting we...
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May 10, 2024
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an earnings day of course, we're coming off the bank of england decision to hold rates steady governor andrew bailey striking a dovish tone. the stoxx 600 is up over .50%. on pace for a six-day winning streak the markets started off mixed and then the markets moved higher after the decision. stocks on pace for the six-day win streak right now let's go to the boards the ftse 100 here is up o over .50%. hitting a fresh record high. a quiet day for earnings iag is boosting that index the dax is up almost .75%. take a look at the ftse mib. up .75%. also taking a look at the ibex up over .50% bbva moves higher as the takeover saga continues moving the spanish index up .50%. take a look at the sectors we mentioned iag travel and leisure getting a boost. you see we are seeing utilities as the leader up over 1.5% right now. oil and gas is getting a boost oil prices are higher on middle east tensions as well as stronger than expected chinese data you see over here with autos which are down .25%. it is still a laggard today. it is weighed down by mercedes-benz. we see mercedes-benz shares contin
an earnings day of course, we're coming off the bank of england decision to hold rates steady governor andrew bailey striking a dovish tone. the stoxx 600 is up over .50%. on pace for a six-day winning streak the markets started off mixed and then the markets moved higher after the decision. stocks on pace for the six-day win streak right now let's go to the boards the ftse 100 here is up o over .50%. hitting a fresh record high. a quiet day for earnings iag is boosting that index the dax is up...
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May 9, 2024
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the bank of england decision coming at 12:00 p.m. london time. special coverage of that and the press conference will also be streamed on our youtube page at markets. it later today we will bring you an interview with andrew bailey. from central banks to individual banks and the story around potential consolidation in spain. bbva, this is breaking news, now launching an all share offer for sabadell. the offer the came through, they said they would not be able to upgrade it yesterday for sabadel l. bbva launching an also offer for its spanish counterpart. 2 euros 12 cents per share. one share per each 1.3. 4.3 of the equivalent of sabade ll shares. this is an all share offer coming through from sabadell. so we will see with the response will be on the back of this news and be watching the stock price of both of those companies very closely. potential consolidation in the spanish banking place. is the ai hype overblown? we put that question to the google deep mind ceo in an exclusive conversation. >> ai is overhyped in their short-term and underest
the bank of england decision coming at 12:00 p.m. london time. special coverage of that and the press conference will also be streamed on our youtube page at markets. it later today we will bring you an interview with andrew bailey. from central banks to individual banks and the story around potential consolidation in spain. bbva, this is breaking news, now launching an all share offer for sabadell. the offer the came through, they said they would not be able to upgrade it yesterday for sabadel...
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May 9, 2024
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buried in those words from the bank of england today, | from the bank of england today, hints that rates are coming closer to being cut, and the prospects at the economy are brightening. but that won't confront those taking out loans right now. and dharshini joins me now. can we say the economy are starting to turn a corner? you can we say the economy are starting to turn a corner?— to turn a corner? you may not think of central bankers _ to turn a corner? you may not think of central bankers being _ to turn a corner? you may not think of central bankers being a _ to turn a corner? you may not think of central bankers being a bundle i to turn a corner? you may not thinki of central bankers being a bundle of laughs, but there is an upbeat tone to this long—awaited report on the bank of england, in which it says that growth prospects are looking a little bit better. we should get confirmation tomorrow morning from official figures that we have exited from that recession, because consumers and businesses are on slightly firmer footing. consumers and businesses are on slightly firmerfoot
buried in those words from the bank of england today, | from the bank of england today, hints that rates are coming closer to being cut, and the prospects at the economy are brightening. but that won't confront those taking out loans right now. and dharshini joins me now. can we say the economy are starting to turn a corner? you can we say the economy are starting to turn a corner?— to turn a corner? you may not think of central bankers _ to turn a corner? you may not think of central bankers...
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May 8, 2024
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we will have full coverage of that bank of england decision tomorrow. japan's toyota is still the world's biggest car maker by sales and earlier today it revealed record annual profits of over $31 billion. unlike some rivals, toyota has been slow to get into electric vehicles, preferring to focus on hybrids. it pioneered those more than two decades ago with the prius. how do the numbers stack up? well, toyota sold more than 10 million vehicles last year. of those, more than a third were hybrids. but just 1% were full electric vehicles or evs. toyota's warning it will have to invest heavily in the transition to evs, which will hit profits. but for now, its focus on hybrids has paid off. what we've seen over the last few years is the early adopters have all enthusiastically got on board the people who want electric cars. and now the hard yards begin because it's convincing ordinary, average consumers who in most cases don't really care whether their car is powered by petrol, diesel, electricity or fairy dust. frankly, theyjust want a good, safe, reliable
we will have full coverage of that bank of england decision tomorrow. japan's toyota is still the world's biggest car maker by sales and earlier today it revealed record annual profits of over $31 billion. unlike some rivals, toyota has been slow to get into electric vehicles, preferring to focus on hybrids. it pioneered those more than two decades ago with the prius. how do the numbers stack up? well, toyota sold more than 10 million vehicles last year. of those, more than a third were...
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May 9, 2024
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the bank of england meets today. it has kept the cost of borrowing at 5.25% for 9 months in a bid to tackle inflation which is currently at 3.2%. let's discuss this with dr roger barker, director of policy at the institute of directors. good morning to you, roger. are you with the majority believe in rates will stay on hold today? in rates will stay on hold toda ? , ~ , today? yes i think they probably _ today? yes i think they probably will _ today? yes i think they probably will i - today? yes i think they probably will i don't - probably will i don't necessarily think it would be the right choice for the bank of england in a recent survey more than two—thirds of institute direct as members think the bank should start cutting rates today. we have a pretty fragile economy, the oecd pretty fragile economy, the 0ecd last week forecast we would be the slowest growing economy in the g7 this year. our members are still on balance pessimistic about the economic outlook for this year. inflation as you say is likely to re
the bank of england meets today. it has kept the cost of borrowing at 5.25% for 9 months in a bid to tackle inflation which is currently at 3.2%. let's discuss this with dr roger barker, director of policy at the institute of directors. good morning to you, roger. are you with the majority believe in rates will stay on hold today? in rates will stay on hold toda ? , ~ , today? yes i think they probably _ today? yes i think they probably will _ today? yes i think they probably will i - today?...
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May 11, 2024
05/24
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of— that the government is letting the bank of england put up interest rates _ bank of england put up interest rates. they put us up in covid and the energy— rates. they put us up in covid and the energy prices, which raises the question— the energy prices, which raises the question why they're not doing it now _ question why they're not doing it now. ., , , ., , question why they're not doing it now. . , , ., ., . now. that person is not not correct. politically they _ now. that person is not not correct. politically they feel _ now. that person is not not correct. politically they feel how _ now. that person is not not correct. politically they feel how they - now. that person is not not correct. politically they feel how they feel i politically they feel how they feel but what would you say to that voter, andy? i but what would you say to that voter. andy?— but what would you say to that voter, and ? ., , ., ., voter, andy? i would explain that sto to voter, andy? i would explain that story to them- — voter, andy? i would explain that story to them. you _ voter, andy? i wou
of— that the government is letting the bank of england put up interest rates _ bank of england put up interest rates. they put us up in covid and the energy— rates. they put us up in covid and the energy prices, which raises the question— the energy prices, which raises the question why they're not doing it now _ question why they're not doing it now. ., , , ., , question why they're not doing it now. . , , ., ., . now. that person is not not correct. politically they _ now. that person...
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the bank of england's stories. the bank of england's base interest rate is unchanged for a sixth time, held at 5.25. economists had expected the to bank hold its rates, with inflation remaining at 3.2, which is above the 2% target. shadow chief secretary to the treasury darren jones says it's clear the economy has not turned a corner. >> bank of england's decision today is its independent right today is its independent right to make decisions about interest rates. but clearly that's bad for news people at home who are having to reset their mortgages for the years ahead at a more expensive rate, and people having to pay rent for their homes. and that's why the economy has not turned a corner, and why people at home are not feeling any uptick when they're told by conservative ministers doing victory laps this week that the country has turned a corner when it hasn't. >> labour's new mp natalie elphicke, has apologised for comments she made about sexual assault. the mp for dover announced her defection from the tories
the bank of england's stories. the bank of england's base interest rate is unchanged for a sixth time, held at 5.25. economists had expected the to bank hold its rates, with inflation remaining at 3.2, which is above the 2% target. shadow chief secretary to the treasury darren jones says it's clear the economy has not turned a corner. >> bank of england's decision today is its independent right today is its independent right to make decisions about interest rates. but clearly that's bad...
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May 9, 2024
05/24
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bank of england. they will look purely at the macro dynamics and that will warrant the timing as early as june for policy easing. jonathan: many would agree with you and that would apply to the federal reserve which is why people are looking toward september. first cut from the federal reserve, where it changes is 2025. i struggle to find any clear outlook whatsoever on 2025 without knowing or understanding the outcome of november. >> that's absolutely true because if we were to have trump back in the white house, the risk would be if we saw a real acceleration in trade pressures, that would clearly have an important dynamic or underline the important dynamic regarding fed thinking. in a sense, that is the difficulty we all face in the market in terms of trying to anticipate the policy outlook for the fed in terms of 2025. we have to make judgments or assessments in terms of the underlying inflationary dynamics. as it stands, we are still expecting a graduated easing through the course of 2025 and we
bank of england. they will look purely at the macro dynamics and that will warrant the timing as early as june for policy easing. jonathan: many would agree with you and that would apply to the federal reserve which is why people are looking toward september. first cut from the federal reserve, where it changes is 2025. i struggle to find any clear outlook whatsoever on 2025 without knowing or understanding the outcome of november. >> that's absolutely true because if we were to have...
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May 22, 2024
05/24
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. about the bank of england. nobodyin about the bank of england. nobody in government, nobody in authority wants to have a debate about the bank of england. when the bank of england is trying to get inflation down, because it looks as if you're trying to move the goalposts, you're trying to blame the bank of england, and that will be a kind of downward spiral. but there's definitely a debate ongoing . definitely a debate ongoing. should the bank of england stay independent? did the bank of england was it asleep at the wheel? was it too slow to raise interest rates? well putting my reporter hat to one side and being a columnist and analyst, i've been writing, you know, throughout 2020 and 2021, people like me, there were a few of us were saying, you have to raise interest rates sooner. inflation is coming down the track. post lockdown, the bank of england didn't listen. inflation will be transitory or boy, don't worry about it. that turned out to be wrong. the federal reserve and the states got that wrong as well.
. about the bank of england. nobodyin about the bank of england. nobody in government, nobody in authority wants to have a debate about the bank of england. when the bank of england is trying to get inflation down, because it looks as if you're trying to move the goalposts, you're trying to blame the bank of england, and that will be a kind of downward spiral. but there's definitely a debate ongoing . definitely a debate ongoing. should the bank of england stay independent? did the bank of...
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May 6, 2024
05/24
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the bank of england and their decision on thursday. before that, the rba of australia coming through with their decision tuesday. earnings in focus with disney out of the u.s., ubs out of switzerland tomorrow. european futures in the current phase of this morning pointing higher 0.3%. there is a bank holiday in the u.k., so trading, but if you strip out the ftse 100. the gain stateside, the relief coming through from what looks like a slightly softer jobs market in the u.s. the print well below estimates, gains of 0.1% flagged by the s&p after upside of plus 1% by the end of close friday. let's flip the board and look cross assets at currencies with a focus on the bloomberg dollar index, but also what is happening in oil markets given the geopolitics. the blooper dollar index gaining 0.1% in the session. the pound in focus as we lead up to that bank of england decision. we have heard relatively dovish comments from the bank of england governor andrew bailey. will that be reiterated thursday? 1.25 on the pound. oil prices edging higher
the bank of england and their decision on thursday. before that, the rba of australia coming through with their decision tuesday. earnings in focus with disney out of the u.s., ubs out of switzerland tomorrow. european futures in the current phase of this morning pointing higher 0.3%. there is a bank holiday in the u.k., so trading, but if you strip out the ftse 100. the gain stateside, the relief coming through from what looks like a slightly softer jobs market in the u.s. the print well below...
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May 21, 2024
05/24
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i wonder, will the bank of england agree? it particular. i wonder, will the bank of england agree?— of england agree? it isn't 'ust three times i of england agree? it isn't 'ust three times this i of england agree? it isn't 'ust three times this year, it h of england agree? it isn'tjust three times this year, it is - of england agree? it isn'tjust three times this year, it is a l three times this year, it is a further four times next year so three times this year, it is a furtherfour times next year so by the end of 2025, with interest rates in the uk at five .25 now, they are recommending interest rates should be 3.5%. a very different situation underlines the idea of there being a turning point in the uk economy and that the inflation crisis somewhat behoves us —— behind us. the bank of england makes its decisions month by month, they are a bit worried inflation is proving sticky, similar situation as in america. they will take this one by one butjust to give an idea of where things might head and perhaps more cuts than many people expect. head and perhaps more cuts than ma
i wonder, will the bank of england agree? it particular. i wonder, will the bank of england agree?— of england agree? it isn't 'ust three times i of england agree? it isn't 'ust three times this i of england agree? it isn't 'ust three times this year, it h of england agree? it isn'tjust three times this year, it is - of england agree? it isn'tjust three times this year, it is a l three times this year, it is a further four times next year so three times this year, it is a furtherfour times...
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May 22, 2024
05/24
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this is just above the bank of england's target which is 2%. this is just above the bank of england's target which is 2%. the prime minister rishi sunak has hailed the inflation drop. thanks to everyone's resilience we have reached a major milestone and it is back to normal. it is important _ it is back to normal. it is important for _ it is back to normal. it is important for our - it is back to normal. it is l important for our economy it is back to normal. it 3 important for our economy and shows how plan is working. while people are onlyjust how plan is working. while people are only just starting how plan is working. while people are onlyjust starting to how plan is working. while people are only just starting to feel the benefits, there is more work to do, i hope it gives people confidence that if we stick to the plan there are brighter days ahead. let's take are brighter days ahead. let's take a closer look... so, what's behind the drop? ben king is in our newsroom for us. this is a major moment undoubtedly in the story of the cost of li
this is just above the bank of england's target which is 2%. this is just above the bank of england's target which is 2%. the prime minister rishi sunak has hailed the inflation drop. thanks to everyone's resilience we have reached a major milestone and it is back to normal. it is important _ it is back to normal. it is important for _ it is back to normal. it is important for our - it is back to normal. it is l important for our economy it is back to normal. it 3 important for our economy and...
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May 14, 2024
05/24
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that is part of the bank of england's calculation _ august. that is part of the bank of england's calculation and - august. that is part of the bank of england's calculation and shows i august. that is part of the bank of i england's calculation and shows what those things they will be looking at before they have that next meeting. the other thing will be the earnings figure. that is gradually informing from record high pay rises for the last a0 years recently, now it has got down to about 6% excluding bonuses. that is still high historically compared to the pay rises we have been used to for the last 20 or 30 years but it is lower thanit last 20 or 30 years but it is lower than it has been in recent months. it is expected to pull further, so pay rises are outstripping price rises at the moment which means people are getting better off but does that subsides less pressure on the bank of england to keep interest rates high. what it also indicates is this sort of permanent damage done to thejobs is this sort of permanent damage done to the jobs
that is part of the bank of england's calculation _ august. that is part of the bank of england's calculation and - august. that is part of the bank of england's calculation and shows i august. that is part of the bank of i england's calculation and shows what those things they will be looking at before they have that next meeting. the other thing will be the earnings figure. that is gradually informing from record high pay rises for the last a0 years recently, now it has got down to about 6%...
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the bank of england. now three problems with that. one, i wasn't working for the bank of england. i was working here. two, the bank of england is, by statute , independent from is, by statute, independent from government . right, tricky. and government. right, tricky. and third, the bank of millom was their regulator. right. so the risk was to their regulator. >> you know, i have a feeling that the de—banking story will never go away. i'll be talking about it until the day i die, because i don't see any sense of reform coming. and he also put this slide up on the screen. yes. he said that we're all nigels now. well, in many ways that's true because too many people have been debunked . now, people have been debunked. now, in a moment, there is a general election coming up in south africa and a couple of weeks time and there is a new up and coming figure in south african politics. his name is gayton mckenzie, and some are saying this is africa's black donald trump. in a moment we're going to speak to gayt
the bank of england. now three problems with that. one, i wasn't working for the bank of england. i was working here. two, the bank of england is, by statute , independent from is, by statute, independent from government . right, tricky. and government. right, tricky. and third, the bank of millom was their regulator. right. so the risk was to their regulator. >> you know, i have a feeling that the de—banking story will never go away. i'll be talking about it until the day i die,...
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May 9, 2024
05/24
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of the answers given by the bank of england today, i think the interpretation in the markets is that a cut next month injune is 50-50, that a cut next month injune is 50—50, and we should get a cut by august. but they have been wrong in the past but that is where the markets are expecting. as important as the timing of the first cut is what happens after. we had new information from the rank of england governor that he thought they could be a case for more cuts over the next year than is currently expected so direction of travel is downwards, just not quite yet. so direction of travel is downwards, just not quite yet-— just not quite yet. what about the state of the _ just not quite yet. what about the state of the economy _ just not quite yet. what about the state of the economy and - just not quite yet. what about the state of the economy and the - state of the economy and the recovery, what did he say about that? ., ., ., ., that? tomorrow morning we get the im ortant that? tomorrow morning we get the important data _ that? tomorrow morning we get the important data for— tha
of the answers given by the bank of england today, i think the interpretation in the markets is that a cut next month injune is 50-50, that a cut next month injune is 50—50, and we should get a cut by august. but they have been wrong in the past but that is where the markets are expecting. as important as the timing of the first cut is what happens after. we had new information from the rank of england governor that he thought they could be a case for more cuts over the next year than is...
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jeremy hunt urged the bank not to take risks with inflation. >> i welcome the fact the bank of england has obviously thought about this very hard. they take this decision independently and
jeremy hunt urged the bank not to take risks with inflation. >> i welcome the fact the bank of england has obviously thought about this very hard. they take this decision independently and
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May 21, 2024
05/24
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the bank of england makes its decisions month by month, they are a bit worried inflation is proving sticky, similar situation as in america. they will take this one by one butjust to give an idea of where things might head and perhaps more cuts than many people expect. head and perhaps more cuts than many peeple exam-— people expect. faisal, thank you very much. _ people expect. faisal, thank you very much. our— people expect. faisal, thank you very much, our economics - people expect. faisal, thank you | very much, our economics editor. let's return to that news about the plane travelling from london to singapore having to divert to bangkok after encountering severe turbulence. we are hearing a bit more detail now about what happened on board in those terrifying moments
the bank of england makes its decisions month by month, they are a bit worried inflation is proving sticky, similar situation as in america. they will take this one by one butjust to give an idea of where things might head and perhaps more cuts than many people expect. head and perhaps more cuts than many peeple exam-— people expect. faisal, thank you very much. _ people expect. faisal, thank you very much. our— people expect. faisal, thank you very much, our economics - people expect....
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May 22, 2024
05/24
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bank of england was hoping for a 5% figure. that has been of concern then to a lot of policy makers, and it remaining sticky right now is another key reason why you're seeing the number for it to stay pretty much still at 2.3%. on the other side, you still did have a notable decline. that went down around 13%. that is a significant decline, which, of course, did help the figure drop down from 3.2% to 3.3% as we see it. there is another cpi report, however, of course, before the next rate meeting or mpc meeting by the bank of england. that's anticipated on june 19th. that will be something to look out for. of course, rates still at the 5.25% figure. caroo carolin. >> jeremy hunt said the impact of inflation is still being felt. >> i hope it's good news. it's returned to much more normal levels, and the bang of england who decides these things independently is confident that it's reached its target rate and it will stay there, they can bring doubt interest rates. that will be good news for mortgage holders, but families whether b
bank of england was hoping for a 5% figure. that has been of concern then to a lot of policy makers, and it remaining sticky right now is another key reason why you're seeing the number for it to stay pretty much still at 2.3%. on the other side, you still did have a notable decline. that went down around 13%. that is a significant decline, which, of course, did help the figure drop down from 3.2% to 3.3% as we see it. there is another cpi report, however, of course, before the next rate...
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May 22, 2024
05/24
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liam, this idea will the bank of england now not touch rates during a campaign? >> i think ben's right. it's
liam, this idea will the bank of england now not touch rates during a campaign? >> i think ben's right. it's
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May 22, 2024
05/24
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with inflation now down on the bank of england , on the bank of bank of england, on the bank of england, i don't know what your your personal view is, but a lot of your colleagues are not impressed with the bank of england's decision to hold the bank rate to keep those interest rates relatively high. >> would you like to see the bank of england be a little bolder and start slashing those interest rates? you know, the probability of a june rate cut is 15% now, down from 50. should they be reducing those interest rates already ? rates already? >> well, as a treasury minister, i'm afraid i can't comment on speculation about rate cuts, and it is entirely up to the independent monetary policy committee. but clearly one of the things they look at is inflation as well as earnings and other factors. and so inevitably over time when inflation starts coming down, that does create an environment where the bank of england can can start to look at rates, but they consider a range of factors. and it's really important that they have the space to be able to do that in independently of government. >> n
with inflation now down on the bank of england , on the bank of bank of england, on the bank of england, i don't know what your your personal view is, but a lot of your colleagues are not impressed with the bank of england's decision to hold the bank rate to keep those interest rates relatively high. >> would you like to see the bank of england be a little bolder and start slashing those interest rates? you know, the probability of a june rate cut is 15% now, down from 50. should they be...
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May 22, 2024
05/24
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living, and heading towards the bank of england's targets. let's take a look at the numbers. in february, inflation was running at 3.4% — it then came down to a two—and—a—half—year low of 3.2% in march, and now analysts are predicting inflation could come down to the bank of england's target rate of 2% for april. but households and businesses may not feel any better off in the short term, as ben king reports.
living, and heading towards the bank of england's targets. let's take a look at the numbers. in february, inflation was running at 3.4% — it then came down to a two—and—a—half—year low of 3.2% in march, and now analysts are predicting inflation could come down to the bank of england's target rate of 2% for april. but households and businesses may not feel any better off in the short term, as ben king reports.
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May 23, 2024
05/24
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there are a couple of key reports still to come between thejune bank of england meeting. it is likely we will go into the election with no interest rate cut for the touring governments. cut for the touring covernments. ., . governments. that is a concern for those _ governments. that is a concern for those remortgaging - governments. that is a concern for those remortgaging later i for those remortgaging later this year. the interest rate cuts no longer happening the same way. the country remains on the tax and spending tight rope? it on the tax and spending tight ro e? . ., , on the tax and spending tight roe? . ., , ., , on the tax and spending tight roe? . ., , .,,. rope? it certainly does. we have to bear _ rope? it certainly does. we have to bear in _ rope? it certainly does. we have to bear in mind, - rope? it certainly does. we j have to bear in mind, every quarter, around about 300,000 uk households have to move from an expiring fixed rate mortgage to a new fixed rate mortgage and really, until we get to september, a two—year anniversary of these trusts when int
there are a couple of key reports still to come between thejune bank of england meeting. it is likely we will go into the election with no interest rate cut for the touring governments. cut for the touring covernments. ., . governments. that is a concern for those _ governments. that is a concern for those remortgaging - governments. that is a concern for those remortgaging later i for those remortgaging later this year. the interest rate cuts no longer happening the same way. the country...
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May 10, 2024
05/24
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but jeremy hunt urged the bank not to take risks with inflation. >> i welcome the fact the bank of england has obviously thought about this very hard. they take this decision independently and i would much rather that they waited until their absolutely sure inflation is on a downward trajectory , and rushed into a trajectory, and rushed into a decision that they had to reverse at a later stage. what we want is sustainably low interest rates. and i think what's encouraging is that the bank of england governor for the first time, has expressed real optimism that we're on that path. >> the foreign secretary says britain will not follow the us in withholding arms from israel if a full scale invasion of rafah goes ahead. his comments come hours after president joe biden vowed to cut supplies if the southern gazan cities attacked. well, lord cameron says there's a fundamental difference because uk sales are much smaller in scale and are policed by strict rules. but, he added the government would not support an invasion of rafah unless it saw a plan to protect civilians. is speaking at the nation
but jeremy hunt urged the bank not to take risks with inflation. >> i welcome the fact the bank of england has obviously thought about this very hard. they take this decision independently and i would much rather that they waited until their absolutely sure inflation is on a downward trajectory , and rushed into a trajectory, and rushed into a decision that they had to reverse at a later stage. what we want is sustainably low interest rates. and i think what's encouraging is that the bank...
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May 23, 2024
05/24
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of the bank of england. but but you are you're entirely right to say that there is an independent central bank and you're entirely right to say that that was introduced as a measure for economic stability in the early days of 1997. >> but of course, when the bank of england's monetary policy committee set interest rates, they have to take into account they have to take into account the overall economic picture of the overall economic picture of the country. and it's frankly absurd to suggest that that is nothing to do with the conservative party >> but the point are you denying that interest rates are not out of line with interest rates in the united states or in the european central bank? the well, the interest rate that we currently have, of course, you're talking about the positioning other countries, but we can't have this situation where, for example, a couple of a couple of years ago, we had inflation at 11. the prime minister, the conservative party, claimed it's nothing to do with them. they claim it
of the bank of england. but but you are you're entirely right to say that there is an independent central bank and you're entirely right to say that that was introduced as a measure for economic stability in the early days of 1997. >> but of course, when the bank of england's monetary policy committee set interest rates, they have to take into account they have to take into account the overall economic picture of the overall economic picture of the country. and it's frankly absurd to...
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of england, that's what they want to see the bank of. >> yes, but it's the bank of england which actually does it, and it does it on the basis of interest rates. it's the only real weapon they've got to deal with inflation. bank of england is independent of government. so they will decide how much interest rates must go up or down by. that's right. >> they decide how they do it. but the government decides what they do. >> but everyone's going to say they want inflation down, aren't they. >> but but nigel's always blame the tories when interest rates go up. but when they come down it's nothing to do with no. >> it's all the bank of england success. and i think this is why we can't have it both ways. >> i think i do. >> i think i do. >> i think i do. >> i don't think they always blame the tories when interest rates go up for everything you do. >> no, you do. >> no, you do. >> well, i think that's totally fair, actually, but i mean , on fair, actually, but i mean, on the bank of england, it is their independence that decides that . independence that decides that. so they deal with that. on t
of england, that's what they want to see the bank of. >> yes, but it's the bank of england which actually does it, and it does it on the basis of interest rates. it's the only real weapon they've got to deal with inflation. bank of england is independent of government. so they will decide how much interest rates must go up or down by. that's right. >> they decide how they do it. but the government decides what they do. >> but everyone's going to say they want inflation down,...
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jeremy hunt urged the bank not to take risks with inflation. >> i welcome the fact the bank of england has obviously thought about this very hard. they take this decision independently and i would much rather that they waited until they're absolutely sure inflation is on a downward trajectory . vie and rushed into trajectory. vie and rushed into a decision that they had to reverse at a later stage. what we want is sustainably low interest rates. and i think what's encouraging is that the bank of england governor for the first time has expressed real optimism that we're on that path. >> pro—palestinian protesters have been gathering in the swedish city of malmo ahead of the second eurovision semi—final. hundreds of demonstrators have been waving palestinian flags in the city's historic market square, in opposition to israel's participation in the song contest. the crowds could be heard booing last night during israel's performance. organisers have also been forced to apologise after sweden's eric saade wore a palestinian scarf. a breach of the contest's ban on political symbols. lab
jeremy hunt urged the bank not to take risks with inflation. >> i welcome the fact the bank of england has obviously thought about this very hard. they take this decision independently and i would much rather that they waited until they're absolutely sure inflation is on a downward trajectory . vie and rushed into trajectory. vie and rushed into a decision that they had to reverse at a later stage. what we want is sustainably low interest rates. and i think what's encouraging is that the...
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but surely that's not the business of the bank of england? >> no, absolutely. and i think there is a disturbing mission creep. and a lot of our national institutions, which, you know, it's how we get our institutions back so that we're sort of at the standards of really the 1990s where the rule of law was clear. everybody knew where the boundanes clear. everybody knew where the boundaries were. the bank of england became independent in that decade , but there was quite that decade, but there was quite a sort of almost a club capitalism idea of the culture of business in this country coming off obviously, a wave of entrepreneurial thatcherism, which of course, has transformed this nation standard of living, and getting back to that culture is a political project , and getting back to that culture is a political project, and that's really where we're going to have to end up going, i think, and the failure of regulators in and i think particularly the fca in protecting investors is notable. >> and instead of concentrating in protecting investors from malpractice a
but surely that's not the business of the bank of england? >> no, absolutely. and i think there is a disturbing mission creep. and a lot of our national institutions, which, you know, it's how we get our institutions back so that we're sort of at the standards of really the 1990s where the rule of law was clear. everybody knew where the boundanes clear. everybody knew where the boundaries were. the bank of england became independent in that decade , but there was quite that decade, but...
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May 9, 2024
05/24
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the bank of england has held interest rates. let's take a lesson is explain a decision. we interest rates. let's take a lesson is explain a decision.— is explain a decision. we are workin: is explain a decision. we are working to — is explain a decision. we are working to bring _ is explain a decision. we are working to bring inflation - is explain a decision. we are i working to bring inflation back toward the 2% target. inflation is now full and just above 3%. we expected to be close to the target in the coming months. that is encouraging. we are not yet at a point where we can cut bank rates. we all consider the forthcoming data releases as part of our assessment for how long the bank rate should be maintained at its current level to be sure that insatiable for all the way back to 30% target and stay there. —— inflation will fall. let me start with the outlook. we have had relatively few uk data supplies since our previous march policy report in february. economic growth was weaker than we expected in the fourth quarter of last year but we think the first quar
the bank of england has held interest rates. let's take a lesson is explain a decision. we interest rates. let's take a lesson is explain a decision.— is explain a decision. we are workin: is explain a decision. we are working to — is explain a decision. we are working to bring _ is explain a decision. we are working to bring inflation - is explain a decision. we are i working to bring inflation back toward the 2% target. inflation is now full and just above 3%. we expected to be close to...
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May 10, 2024
05/24
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the news comes after the boss of the bank of england, andrew bailey, said the economy had turned a corner, but wasn't yet in a strong recovery. for more on this i'm joined now byjackie bowie, head of europe at chatham financial. where is this growth coming from?
the news comes after the boss of the bank of england, andrew bailey, said the economy had turned a corner, but wasn't yet in a strong recovery. for more on this i'm joined now byjackie bowie, head of europe at chatham financial. where is this growth coming from?
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May 9, 2024
05/24
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inching towards a cut — the bank of england keeps interest rates on hold. but two committee members are now voting to ease the cost of borrowing. "serious defects" — more revelations about boeing's safety record, this time from a whistle—blower at its main supplier. plus, crushing criticism — apple's new ad is slammed for showing the destruction of musical instruments, works of art, and historic relics. those were not the right pictures, we will show that story about such criticism of the working culture at baidu later. welcome to business today, i'm ben thompson. we start here in the uk, where the bank of england has kept the cost of borrowing on hold at 5.25%, but is inching towards a cut. the bank has revealed that two out of nine committee members are now voting to cut interest rates — it needs needs a majority decision of five. that's caused the pound to continue its slide against the dollar. and it has helped the ftse100 close at a record high for the third day in a row. bank of england governor andrew bailey says they need to see "more eviden
inching towards a cut — the bank of england keeps interest rates on hold. but two committee members are now voting to ease the cost of borrowing. "serious defects" — more revelations about boeing's safety record, this time from a whistle—blower at its main supplier. plus, crushing criticism — apple's new ad is slammed for showing the destruction of musical instruments, works of art, and historic relics. those were not the right pictures, we will show that story about such...
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May 22, 2024
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after nearly three years of high inflation, it's now within sight of the bank of england's target of 2%. inflation is back to normal, and that is an important moment for our country, for the economy and shows that our plan is working. now, whilst i know people are only just starting to feel the benefits, and there is more work to do, i hope this gives people confidence that if we stick to the plan, there are brighter days ahead. overall, the figures are higher than what we in the market i were hoping for this morning. so now is not the time for any- victory lap from the conservatives. more work needs to be done. the bank of england will be watching closely when deciding whether to cut interest rates this summer, particularly inflation in services such as mobile phones or car insurance, which remained stubbornly high. that's the part of inflation where the bank's action could have had the biggest impact in bringing down inflation. so perhaps it is a sign that interest rates won't be brought down as quickly as might have been the case otherwise. the fight isn't completely won yet, and
after nearly three years of high inflation, it's now within sight of the bank of england's target of 2%. inflation is back to normal, and that is an important moment for our country, for the economy and shows that our plan is working. now, whilst i know people are only just starting to feel the benefits, and there is more work to do, i hope this gives people confidence that if we stick to the plan, there are brighter days ahead. overall, the figures are higher than what we in the market i were...
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May 9, 2024
05/24
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BBCNEWS
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the bank of england keeps interest rates on hold. but two committee members are now voting to ease the cost of borrowing and the governor says that could come as soon as next month. and "work till you drop". a huge backlash over china's overwork culture, as one boss tells staff, "keep your phone on 2a hours a day." welcome to business today. iam i am michelle fleury. shares on wall street are opening lower this thursday — led by chip designer arm holdings — which is tumbling after its forecast for the year disappointed investors. that has hit the wider technology sector. markets have had a boost this week from growing hopes that interest rates could soon be coming down. in the uk we've had a strong hint from the bank of england that could start happening next month — more on that in a moment. martin baccardax is bureau chief at the financial news service thestreet — he's in rhode island. ifi if i could start with you with those results from arm holdings. they were hardly bad, so why
the bank of england keeps interest rates on hold. but two committee members are now voting to ease the cost of borrowing and the governor says that could come as soon as next month. and "work till you drop". a huge backlash over china's overwork culture, as one boss tells staff, "keep your phone on 2a hours a day." welcome to business today. iam i am michelle fleury. shares on wall street are opening lower this thursday — led by chip designer arm holdings — which is...