“We think there will be some need to increase interest rates to bring inflation sustainably back to target” Following many hours of discussions, the Monetary Policy Committee (MPC) decided to retain the Bank of England (BoE) base rate at its record low of 0.1% at its meeting last week. The decision was made despite predictions […]
Category archives: News in Review
News in Review
“The world is looking to you” All eyes turned to Glasgow on Monday as world leaders convened for COP26, which is being hailed as the most important climate change summit since the Paris Agreement was struck in 2015. The next couple of weeks are set to be packed with important announcements about the future of […]
News in Review
“Growth is being accompanied by an unprecedented rise in inflationary pressures” A closely monitored survey, released last week, suggests the UK economy unexpectedly regained momentum during October. The preliminary reading of the IHS Markit/CIPS Composite Purchasing Managers’ Index (PMI) rose to 56.8, up from 54.9 in September. This represents the largest monthly increase since May […]
News in Review
‘Global cooperation is key to addressing our shared challenges as we emerge from the pandemic’ Chancellor Rishi Sunak stressed the importance of nations working together to tackle supply chain issues at a meeting of G7 (Group of Seven) nations in Washington last week. The meeting of finance ministers and central bank governors discussed the importance […]
News in Review
“The global recovery continues, but momentum has weakened” In its latest assessment of world economic prospects published on Tuesday, the International Monetary Fund (IMF) lowered its 2021 global growth forecast slightly to 5.9%. The international soothsayer also stated that risks to economic prospects have increased, while policy trade-offs have become more complex in the ongoing […]
News in Review
“Household saving fell particularly strongly in the latest quarter from the record highs seen during the pandemic” The easing of COVID restrictions has resulted in an economic rebound that has exceeded initial estimates, according to data from the Office for National Statistics (ONS). During Q2, the economy grew by 5.5%, up from the 4.8% forecast […]
News in Review
‘Against a backdrop of robust goods demand and continuing supply constraints, global inflationary pressures have remained strong’ In a unanimous decision, the Bank of England (BoE) Monetary Policy Committee (MPC) voted to maintain Bank Rate at its record low of 0.1% last week. The vote came as the supply chain crisis, largely driven by an […]
News in Review
“This is fundamentally a growth market, and we see it continuing to be that way” The travel industry has featured prominently in the news over the past seven days, with an easing of travel restrictions announced on both sides of the Atlantic. Last Friday, simplification of the traffic light system and testing requirements in England, […]
News in Review
“This rise will impact the wider economic recovery” Over the past seven days, government plans to raise National Insurance contributions to fund the health and social care system have continued to feature prominently in the news headlines. Last Wednesday, despite warnings of a mass Tory rebellion, MPs voted by 319 votes to 248 to approve […]
News in Review
“Following the most successful vaccine programme in the world, we’re beginning the biggest catch-up programme in the history of the NHS” On Tuesday, Boris Johnson took to the Downing Street podium, following an earlier appearance in the House of Commons, to set out the government’s intentions to “help our NHS recover from the pandemic and […]