British finance minister Jeremy Hunt on Sunday talked down the likelihood of tax cuts in this week’s budget, pledging “prudent and responsible” measures “for long term growth”. The Chancellor of the Exchequer had been widely expected to cut taxes in Wednesday’s budget, in a move seen as a way of closing the gap on the … Read more
London: Bank of England Gov. Andrew Bailey said Tuesday that the UK’s economic recession that was confirmed last week is modest by historical standards and is probably over. In testimony to lawmakers, Bailey said the two successive quarters of negative growth recorded in the second half of 2023 – the standard by which the UK … Read more
The Bank of England kept interest rates at the highest level in 15 years as its policy makers persisted with their higher-for-longer message despite growing market bets on a wave of cuts in 2024. The Monetary Policy Committee voted 6-3 to keep its key policy rate at 5.25% for the third consecutive meeting, according to … Read more
