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Andrew Bailey warns of ‘significant decline in wage growth in year ahead’ as Bank prepares for interest rates decisionBusiness live – latest updatesThere are growing signs that the UK jobs markets is slowing as employers respond to higher national insu…
European Commission president says EU will ‘defend the European interest as needed’ as Trump threatens 50% steel tariffsThe European Commission president, Ursula von der Leyen, has said the EU is ready for a trade deal with Donald Trump, but “all optio…
New strategy to focus on ‘more agile’ modest agreements, as opposed to wide-ranging dealsBritain has focused too much on trying to sign major trade deals with other countries, ministers have said, as they lay out the case for a big shift in post-Brexit…
Data shows 16.1% jump as Bank of England suggests influx of cheaper goods could bear down on inflation Chinese exports to the UK jumped in May, according to data from Beijing, raising the prospect of a flood of cut-price goods as firms look for alterna…
Andrew Bailey says OBR projections – which the chancellor uses to calculate headroom – shouldn’t be ‘over-interpreted’The Bank of England governor, Andrew Bailey, has waded into the controversy over Rachel Reeves’s fiscal rules with a warning against “…
Bailey says the BoE doesn’t know how trade wars will play out, as UK brings in new restrictions on steel imports Oil prices sink after Iranian strike on US airbase reduces fears of market disruptionTravel and leisure stocks across Europe are rallying t…
May figure second highest for month on record amid fears chancellor is struggling to keep within spending rulesBusiness live – latest updatesHigher tax receipts were unable to prevent a rise in public sector borrowing in May to £17.7bn, up from £17bn a…
Lower interest rates will be a lever for growth but the Middle East conflict and rising food prices will have troubled MPCBank of England keeps interest rates on holdBank of England warns of ‘elevated’ global uncertainty after leaving interest rates on…
Governor says rates still on downward path but hard to predict timing of reductions in ‘highly unpredictable’ worldBusiness live – latest updatesThe Bank of England has left interest rates on hold at 4.25%, though the central bank signalled that furthe…
Blockage of strait of Hormuz, through which about 25% of world’s oil passes, could shock energy market, says Wael Sawan• Business live – latest updatesAn escalation in the Middle East conflict could have a “huge impact on global trade”, the boss of the…