Bank of England’s Bailey says no rush to raise interest rates amid Iran war uncertainty
Inflation can be tolerated above 2% target for now ‘given context of softness in real economy’, governor saysPhillip Inman (the Guardian)
Inflation can be tolerated above 2% target for now ‘given context of softness in real economy’, governor saysPhillip Inman (the Guardian)
Alan Milburn’s landmark report says unemployment among young costs UK £125bn a year and warns of ‘lost generation’Richard Partington (the Guardian)
Firms hit by ‘perfect storm’ of uncertainty about Labour leadership and impact of Iran warTom Knowles (the Guardian)
British Chambers of Commerce survey shows firms ‘are dealing with rising levels of theft, fraud and cyber-attacks’Sarah Butler (the Guardian)
Whoever wins the Labour leadership tussle, the chancellor’s prospects for staying inpost have risen given the surprise GDP boostRichard Partington (the Guardian)
GDP reading ties in with some surveys suggesting UK plc has kept up momentum despite rising fuel costsTom Knowles (the Guardian)
As Keir Starmer’s leadership totters, investors warn a Labour leadership contest ignoring public finances and market realpolitik could be disastrousRichard Partington (the Guardian)
Halifax says cost of typical home fell by 0.1% in April, the second consecutive monthly drop, with pace of annual growth down from 0.8%. to 0.4%Mark Sweney (the Guardian)
Firms raising prices at fastest rate in three years, driven by soaring energy and wage bills but also extra materials costsAlex Daniel (the Guardian)
Parties accused of ‘fiscal denial’ and failing to tell voters the scale of the challengeSeverin Carrell (the Guardian)
Profits ahead of expectations but almost half of £283m impairment charge follows forecast reassessmentMark Sweney (the Guardian)
Bank expects its base case for GDP growth to be 0.5% this year, lower than IMF’s 0.8% prediction for BritainMark Sweney (the Guardian)
Niesr says even under best-case scenario, economy would grow at slower pace in 2026 and 2027 because of conflictRichard Partington (the Guardian)
ONS says sales up by 0.7% in March, spurred by big rise in fuel purchases and sunny weather helping retailersMark Sweney (the Guardian)
Consumer confidence hit its lowest level since October 2023 this month, with surveys showing the cost pressures companies are facingRichard Partington (the Guardian)
ONS figure for February suggests economy was gaining momentum before conflict stoked inflation with soaring energy pricesHeather Stewart (the Guardian)
Chancellor faced with fund’s forecast that impact of Iran war will leave Britain as G7’s biggest loserRichard Partington (the Guardian)
Artificial intelligence company cites high energy costs and regulation as reasons for putting Stargate project on holdAisha Down (the Guardian)