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...Additional reporting by Aiden Reiter in London Letter in response to this report:Habakkuk’s productivity warning is worth recalling / From James Winpenny, Wychwood Economic Consulting, Chipping Norton,...
...a more robust recovery in an election year....
...The BoE’s February outlook was for even weaker growth than that predicted by the IMF, as it projected an expansion of a quarter of a percentage point this year and three-quarters next year....
...A fund analysis found a 1 percentage point spike in US rates led to a 90 basis point rise in other advanced economies and an increase in emerging markets of 1 percentage point....
...These include a worsening situation in the Middle East, after Iran launched a barrage of drones and missiles at Israel in retaliation for a suspected Israeli strike in Damascus....
...“Stalling disinflation could surprise investors, leading to a repricing of assets and a resurgence of financial market volatility,” the GFSR said....
...Andrew Bailey said during a visit in Washington that the UK remained “pretty much on track” compared with the BoE’s February inflation forecast, adding that he expected a further sharp drop to price growth...
...Hunt was speaking at the start of a trip to the US in which he will promote the idea that the UK is shrugging off a period of high inflation and stagnant growth, and that the public will start to feel benefits...
...Thames Water has been mired in a protracted stand-off with industry regulator Ofwat, and investor resistance to the watchdog’s demands precipitated a default by the group’s parent company this month....
...Global stock markets sank and Asian currencies were hit by a rising dollar on Tuesday, following a Wall Street sell-off prompted by strong US retail sales figures suggesting the Fed may cut rates this year...
...The Tories’ existing plans include a pledge to increase day-to-day Whitehall departmental spending by 1 per cent a year overall in real terms after the election....
...Marc FilippinoSam Fleming is the FT’s economics editor. Thanks, Sam. Sam FlemingThank you....
..., albeit a slower one....
...That would be around a percentage point below the pre-pandemic average set from 2000 to 2019....
...The figure is higher than the 2.5 per cent estimated for 2023 and represents a 0.6 percentage point upgrade on the IMF’s previous forecast....
...The evening began with Tom Cawley’s watery electric piano conjuring a sense of mystery while a hiss of James Maddren’s cymbals implied the beginnings of a pulse....
...The sum total of tax rises pushed through in recent years is “really concentrated at the top”, said James Smith, head of research at the Resolution Foundation....
...The BoE’s increasing optimism on inflation comes after the US Federal Reserve sparked a market rally overnight, with officials indicating they want to cut interest rates by three-quarters of a percentage...
...Scenarios have a pedigree in the central banking world; Sweden’s Riksbank is a long-standing proponent....
...James Bowler, the Treasury’s permanent secretary, frostily told a House of Lords committee: “I don’t agree with the language he used.”...
...construed as a violation of the legal international order.”...
...Lingering memories of Truss’s “mini” Budget of 2022, which triggered a surge in bond yields and mortgage rates as markets panicked as a result of unfunded tax cuts, are diminishing any sense of relief at...
...That left headline inflation lower than the 3.5 per cent rate forecast in a Reuters poll of economists....
...exchequer — a process dubbed “fiscal drag”....
...“The rapid rebound suggests the dip was more likely down to the ever-shifting seasonal trends in spending, which have continued to change pace since Covid-19,” said James Smith, economist at ING bank....
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