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Prediction comes despite consumers using more credit to offset cost of living crisisCurrys expects sales to continue to fall this year as households delay replacing TVs and laptops despite using credit to buy more energy-efficient appliances such as be…
JP Morgan says risk of ‘hard landing’ for economy heightened, with higher borrowing costs hitting businessThe Bank of England may need to push interest rates to as high as 7% to tackle stubbornly high inflation, economists have warned, amid fears the s…
Inflation remains too high globally – and Australia’s may still be ‘out of whack’ by the time the board next meets in AugustGet our morning and afternoon news emails, free app or daily news podcastThe relief many Australians felt when the Reserve Bank …
Like-for-like sales up 9.8% in quarter and supermarket says it has put more than £60m into cutting prices of basicsFood inflation is starting to fall, according to the boss of Sainsbury’s, who said shoppers were putting more items in their baskets as i…
Homeowners with a mortgage will be breathing a sigh of relief after RBA paused rate rising at Tuesday’s board meetingRBA interest rates live updates: latest news from Reserve Bank decision todayGet our morning and afternoon news emails, free app or dai…
Musicians say they can’t afford to go on the road any more, while smaller events are cut back or cancelledMusicians are dropping out of festivals because huge rises in the cost of performing are outstripping their fees. Artists told the Observer they h…
Warwick McKibbin says Australia’s central bank has been slow to react as supply pressures from Covid and war in Ukraine abateGet our morning and afternoon news emails, free app or daily news podcastThe Reserve Bank should pause lifting interest rates b…
Economists put reason for divergence down to Brexit and Britain’s energy price guaranteeBusiness live – latest updatesThe eurozone’s annual inflation rate fell by more than expected in June to 5.5% amid sharp falls in the cost of energy, highlighting a…
Despite fastest interest rate rises in three decades, retail turnover rose in May, when experts had expected a dropFollow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastAustra…
Andrew Bailey says financial markets expect more rate rises amid continuing high inflation The Bank of England governor, Andrew Bailey, has hinted that interest rates may stay high for longer than expected amid stubbornly high inflation.Speaking at the…