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...The BoE’s monetary policy committee, which is due to meet on Thursday, is not expected to reduce rates before June, although lower rate expectations have already pushed down fixed-term deals....
...UK house prices fell at the fastest pace in more than a decade, according to official data that reflects the impact of high borrowing costs on the property market....
...The December CPI reading indicated the slowest pace of inflation since June of 2022 as a decline in imported raw material costs and government subsidies for rising energy costs pushed down price growth....
...Net immigration to the UK was the highest on record in the two years to June 2023 but the pace of inflows has slowed this year, the Office for National Statistics said....
...june.yoon@ft.com...
...Goods prices rose 1.1 per cent, the slowest pace since 2021....
...The consumer price index rose 68.5 per cent in March from the same month the previous year, up from February’s rate of 67.1 per cent and marking the swiftest pace since November 2022....
...Price increases in June to August was driven by “global factors” such as increased crude oil prices, the competition watchdog said, but “wholesale prices then reduced in September and October while retail...
...November 42 Acres, as the site is now known, launched a series of self-guided contemplative retreats, in which guests were encouraged to explore and immerse in both indoor and outdoor spaces at their own pace...
...While investors are convinced the ECB will start cutting its benchmark deposit rate from its record high level of 4 per cent in June, there is more doubt over the pace and total amount of policy loosening...
...The chances of interest rates being cut for the first time in June are now a bit slimmer.”...
...UK house prices fell at the fastest pace in more than a decade in November, driven by a sharp decline in London, according to official data that reflects the impact of high interest rates on the property...
...Global trade fell at the fastest annual pace since the first Covid-19 restrictions of 2020, reflecting slowing global demand as interest rates rise....
...Again, June is the most likely month. If these views firm, it will be the ECB that will be first to act (its decision comes on June 6 compared with June 12 for the Fed)....
...Companies continued to add jobs for a third consecutive month, albeit at “only a very modest pace”, S&P said....
...Meanwhile, annual growth of UK house prices slowed to 0.6 per cent in July, down from 1.9 per cent in June, amid high mortgage rates....
...Both had previously expected June (DB says “June or July”). That’s even with some quirks in the inflation data that smart folks online have been pointing out....
...For the period from June to August, increasing prices were probably driven by “global factors” such as increased crude oil prices, the CMA said....
...This year’s fair will run on June 26-29 in the Garrison Chapel, a deconsecrated church run by the King’s Foundation on London’s Chelsea Barracks site....
...The IEA predicts oil demand will grow by 1.2mn b/d, about half the pace of 2023, while Opec believes demand growth will be higher at 2.2mn b/d....
...Cipollone said the pace of rate cuts should be “calibrated” by the speed with which inflation was falling towards its target and it could opt for a “faster pace” if this happened quicker than forecast....
...“The exact date of the first cut — April or early June — has no existential importance,” he added....
...We now expect the FOMC to deliver four consecutive cuts at the May, June, July, and September meetings before slowing to a quarterly pace and adding a final cut this year in December, as shown in Exhibit...
...This could allow the BoE to start cutting interest rates from their current 16-year high of 5.25 per cent from June onwards, even if the US Federal Reserve took longer to loosen policy....
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