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Bank of International Settlements also warns US bank failures and cryptocurrencies could reduce trustCentral banks risk losing public trust if they fail to bring down high rates of inflation found across the developed world, according to the boss of th…
Ann Widdecombe may not sympathise in any case, but rising costs have not affected all butties equallyMore than half of us are worried about the rising cost of eating, as food prices rise at their fastest rate since 1977.But that did not stop Ann Widdec…
Resolution Foundation says it is not clear that politicians are prepared for another year of food price risesThe rising cost of food will overtake the price of energy as the driving force behind inflation over the summer, hitting poorer households the …
Jeremy Hunt’s freeze on allowances and thresholds will put a quarter of teachers and one-eighth of nurses in 40% income tax bracketOne in four teachers and one in eight nurses will be higher-rate taxpayers by 2027 as a result of the government’s record…
Revised outlook for 2023 and 2024 puts average growth for 27-member bloc at 1%Eurozone growth and inflation forecasts lifted – business liveEurope’s economy is expected to grow faster than previously thought this year and next, despite high inflation a…
Impact of Bank of England’s decision to hike rates to 4.5% will be felt mostly by young families, thinktank says Soaring interest rates will cost UK mortgage holders £12bn in extra payments, according to a leading thinktank which said the impact will b…
There are some signs that headwinds are easing but economy still looks fragileUK economy shrank unexpectedly by 0.3% in MarchBusiness live: latest updatesThe UK economy has been going nowhere for the past year. After rebounding most of the way out of i…
But there was 0.1% growth in first quarter overall, thanks to a stronger JanuaryThe UK economy shrank unexpectedly in March, by 0.3%, as the cost of living crisis and industrial action took a toll.However, the economy grew by 0.1% over the first quarte…
Latest 0.25 point hike marks 12th rise in a row as Bank battles stubbornly high inflationBusiness live: Rates hiked to 4.5% in battle against inflationExplainer: how will the rise affect you?Larry Elliott: what happens next?The Bank of England has rais…
Leading thinktank sounds alarm over cost of living crisis with poorest £4,000 worse off in 2023 than before Covid pandemicRishi Sunak is at risk of missing his flagship target to halve inflation this year, one of Britain’s leading economic forecasters …