Bank of England poised to raise interest rates for 10th time in a row
Synopsis by The Guardian Jan 30 23
Policymakers face balancing act between driving inflation down and risk of deepening ...Read full article 
The Guardian: Bank of England poised to raise interest rates for 10th time in a row
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| Last Updated | Jan 30 23 |
| Total Articles | 2 |
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UK inflation falls less than expected to 3.2% in March: Rate continues to drop but economists had forecast a decline to 3.1%
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Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
BOE Official Warns of ‘Bumpy’ Last Mile in Inflation Fight: Bank of England policy maker Megan Greene said developed economies including the UK face a “bumpy ...
bloomberg.com/news/articles/2024-04-17/boe-official-warns-of-bumpy-last-mile-in-inflation-fight
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Ben Bernanke says BoE must revamp main economic model: Nobel laureate cites ‘significant shortcomings’ and calls for end of fan charts
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Quick Glance: Improve: Bernanke Critiques Bank of England's Handling of Inflation Crisis
- The Bank of England has deteriorated in economic forecasting, with faulty models and outdated systems. Communication with the public needs enhancement.
- Ben Bernanke's report includes 12 detailed recommendations, which Andrew Bailey, the Bank's governor, intends to act upon. Bernanke emphasizes the Bank's potential for significant improvement.
- Bernanke criticizes the Bank's use of fan charts, suggesting they lack useful information and should be replaced with more transparent communication methods. He highlights the need for clearer decision-making reasoning.
- Despite recommendations, Bernanke avoided speculating on past actions, indicating room for substantial improvement within the Bank's processes. The report conveys a clear message: the Bank could have performed much better.
UK Inflation: Traders Favor Just One BOE Rate Cut in 2024 After Hot Data: Money markets rushed to trim wagers on the extent of monetary easing by the Bank of ...
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Concern for Bank of England as real earnings growth at highest rate since 2021: While the wage figures are good news for households on the face of it ...
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Quick Glance: Rising Real Earnings Growth Raises Concerns at Bank of England
- An unexpectedly weaker decline in the pace of wage increases has led to real earnings growth reaching its highest level in nearly two and a half years when considering inflation, according to the latest official data.
- Recent official figures indicate that average regular pay without bonuses was at 6% in the three months to February compared to the previous year.
- The broader ONS statistics revealed an increase in the UK's unemployment rate from 3.9% to 4.2%, with caution due to ongoing efforts to enhance the reliability of employment data.
- The forthcoming inflation data expected on Wednesday is likely to demonstrate further progress towards the Bank's objectives and the potential for a decrease from the current 5.25% interest rate.
Inflation set to fall again – what it means for you and your money: Experts predict Wednesday's figures will show inflation sitting at about 3.1 per cent
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Why economic forecasting is performance art for central bankers: Ben Bernanke’s review is full of sound recommendations but unlikely to alter this opaque process
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Bank of England’s Greene says rate cuts should be "a way off": Bank of England policymaker Megan Greene said interest rate cuts in Britain should remain "a way ...
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Former Fed chief Bernanke to set out Bank of England reforms: Former Federal Reserve Chair Ben Bernanke will set out on Friday how the Bank of England should ...
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Inflation is down again – but don’t expect interest rates to follow suit: The Consumer Prices Index (CPI) did fall in March, from 3.4 per cent to 3.2 per cent ...
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Latest UK inflation fall matches Bank of England expectations, Bailey says: British inflation is broadly declining in line with the Bank of England's forecasts ...
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Economy: Consumers unhappy as prices, inflation remain high: Many Americans are in a sour mood about the economy for one main reason: Prices feel too high ...
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How has the Bank of England dealt with four years of shocks?: Its credibility is battered but intact. It can do better
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Bank of England prepares for ‘once in a generation’ overhaul in forecasting: Reforms come after central bank was criticised for failing to predict post-pandemic ...
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Fed likely to cut rates before ECB blinks, former BOE member says: The Federal Reserve is likely to cut rates before the European Central Bank does ...
cnbc.com/2024/04/11/the-fed-will-cut-rates-before-the-ecb-former-boe-deanne-julius-said.html
Households to have £300 knocked off mortgage payments by end of year: Tracker mortgage holders could see monthly savings of around £300 due to the upcoming Bank ...
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Wage and price expectations cool in UK companies, BoE survey shows: British companies' expectations for selling prices and wage increases in the year ahead ...
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Gold hits record high: Why investors are turning to the precious metal: Gold prices have been boosted in the past few months due to increasingly sticky inflation ...
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UK inflation stronger than expected on higher fuel prices: UK inflation slowed less than expected last month, underscoring the reluctance of some Bank of England ...
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UK Is Beating US on Inflation Fight And May Cut Rates Sooner: Britain is starting to rein in inflation at a quicker pace than the US, underscoring a divergence ...
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BOE may cut rates before the Fed as UK inflation creeps closer to 3%: Bank of England governor struck a different tone Tuesday, noting a ‘divergence’ between the ...
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Others paying too dearly for Bank of England shortcomings: The Ben Bernanke review has reignited the debate over the extent to which the BoE’s failings have ...
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Why there is not about to be a house price boom: Getting a mortgage to buy a home is still not possible for vast numbers of people
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