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☆ Bank of England to remain cautious on future interest rate cuts, economist says
  + stars: | 2024-08-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of England to remain cautious on future interest rate cuts, economist saysSonali Punhani, chief U.K. economist at Bank of America Merrill Lynch, weighs in on the Bank of England's recent interest rate cut and the outlook for monetary policy moving forward.
Persons: Sonali Punhani, Bank of America Merrill Lynch Organizations: Email Bank of England, Bank of America, Bank of
☆ UK economy: Rishi Sunak only has unpleasant choices as prime minister
  + stars: | 2022-10-25 | by ( Julia Horowitz | ) edition.cnn.com   time to read: +7 min
There’s little appetite for government spending cuts after years of austerity in the wake of the 2008 global financial crisis. Plus, failing to help households deal with surging living costs could prove politically devastating and further weigh on the economy. Finance minister Jeremy Hunt got the ball rolling last week when he reversed £32 billion ($37 billion) in tax cuts that formed the bedrock of Truss’ plan to boost growth. Risk of a ‘doom loop’Investors and economists expect that the government will announce a mixture of tax increases and spending cuts shortly. No one wants to repeat the errors of the brief Truss era, when her gamble that unfunded tax cuts would jumpstart growth backfired spectacularly.
☆ Analysis: BoE rate hike push set to slow as Hunt tightens screw on economy
  + stars: | 2022-10-18 | by ( William Schomberg Andy Bruce | William Schomberg | Andy Bruce | ) www.reuters.com   time to read: +5 min
People exit Bank underground station in the City of London financial district during rush hour in London, Britain, October 3, 2022. Investors on Tuesday were pricing in a 66% chance the BoE will raise its benchmark Bank Rate by a full percentage point on Nov. 3, its next scheduled monetary policy announcement, down from a near-certainty before the sweeping fiscal U-turns. Register now for FREE unlimited access to Reuters.com RegisterInvestors have also pared back their bets on the peak for Bank Rate which they now see at 5.25%, up from a current 2.25% but down from almost 6% predicted earlier this month. But the outlook for the British economy has changed so markedly that the picture looks different for the BoE. "I expect the Bank of England will be responding only to the inflation picture," Punhani said.
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