Fragile Global Economy Faces New Crisis in Israel-Gaza War
A war in the Middle East could complicate efforts to contain inflation at a time when world output is “limping along.”
Interest rates
UK businesses still ‘reluctant to invest’ over Brexit and interest rates
British Chambers of Commerce survey finds EU trade barriers and high rates have ‘flattened’ investmentUK businesses are reluctant to make large investments in machinery and new technology while barriers to trade with the EU remain in place and interest…
Supply shortages and mortgage rate rises push UK rents to highest point ever
Average rental property receives three times more enquiries from prospective tenants than in 2019Business live – latest updatesPrivate home rents in Great Britain have increased to their highest point on record after shortages in supply and mortgage ra…
RBA interest rates: Reserve Bank keeps cash rate on hold at 4.1% for fourth straight month
New RBA governor, Michele Bullock, warns Australia isn’t out of the inflation woods and further interest rate rises remain on the cardsFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily ne…
UK house prices drop 5.3% with falls in every region, says Nationwide
High interest rates blamed for year-on-year fall with price of average home £14,500 lower than September 2022.UK house prices fell by 5.3% in the year to September, with drops in price in every region of the country as rising interest rates squeeze the…
Inflation uptick increases risk of another RBA interest rate rise, economists say
First Reserve Bank meeting under new governor Michele Bullock has the potential to surprise after CPI spikeGet our morning and afternoon news emails, free app or daily news podcastAustralia’s inflation rate has picked up again, increasing the risk hous…
Europe’s workers face bleak winter as firms ‘profiteer’, says union chief
Millions ‘holding on with their fingertips’ due to high interest rates, squeezed wages and Covid costs, says the European TUC boss, Esther LynchWorkers across Europe are “holding on with their fingernails” and face a bleak winter ahead, as high interes…
UK mortgage payers making big changes to meet higher payments, survey finds
Britons are raiding savings or cutting pension contributions, KPMG study findsMortgage holders are making big changes to their finances – from cutting pension contributions to downsizing – to cope with dramatically higher monthly payments, a new survey…
UK economy ‘will shrink for two years as eurozone and US grow’
Thinktank chief and former MPC member gloomy about stubborn inflation and labour shortages The UK economy will shrink this year and in 2024, according to a report by a leading US thinktank that said stubborn inflation and a shortage of workers would da…
‘We lost about £100,000’: one year on, Britons count cost of the mini-budget
People who lost money for care home fees and others facing rocketing mortgage costs after Truss’s gambit share their storiesThe chancellor, Kwasi Kwarteng’s speech at the Commons dispatch box on 23 September last year, and his refusal to publish the Of…