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...There has also been a sustained increase in food prices in many countries where rice is a dietary staple, after an Indian ban on rice exports affected supply....
...Andrew Bailey, BoE governor, described the review as a “once in a generation opportunity” to update forecasting approaches and tailor them to a “more uncertain world”....
...Sonja Hutson Aiden Reiter covers economics for the FT. Thanks, Aiden. Aiden Reiter Thank you....
...The UK construction industry returned to growth in March after contracting for six months, according to a closely watched survey....
...Housebuilders registered a marginal improvement from 49.8 in February to 49.9, a 16-month high, while the commercial construction sub-index rose from 49.0 to 49.9....
...In the west, people tend to think of a charity and a funder as separate entities — the former does the work, while the latter provides the money....
...“Stability is a ultimately good sign,” added Staton....
...Catherine Mann, in a surprise “eat the rich” turn)....
...Paul Kissack, chief executive of the Joseph Rowntree Foundation, said that it was a Budget for “big earners and big owners”, adding: Prioritising capital gains tax cuts for owners of multiple properties...
...Global Development, a think-tank....
...The Halifax data also showed that prices in March were 0.3 per cent higher than a year earlier, a much smaller annual rise than the 1.45 per cent forecast by economists in a Reuters poll....
...UK estate agents are becoming increasingly optimistic about the housing market, reporting a third consecutive monthly rise in demand as prices have stabilised, according to a closely watched survey....
...Simultaneously, a smaller and smaller population has to fill a once-larger economy, resulting in oversupply of shelter, commercial real estate, and infrastructure — further driving down prices....
...Compared with a year earlier, the number of bankruptcies rose 4.4 per cent and continued above pre-pandemic levels....
...“It remains a challenging environment, but as we head into the warmer months, retailers will be hoping that stronger consumer confidence will turn into stronger retail sales.”...
...For a tea futures market to emerge, a few things need to happen....
...The Bank of England needs to urgently overhaul its outdated IT systems, revamp its main economic model and transform the way it communicates policy decisions to avoid a repeat of its recent failure to forecast...
...“Because of the build-up of savings in Europe and higher incomes in the US, we are not seeing a huge hit to services demand.”...
...Meanwhile, a recent rise in UK home sales and a fall in mortgage rates have created a slightly more hospitable market for buyers....
...But Saunders said calling the review a “once-in-a-generation” opportunity could be a mistake, adding: “This shouldn’t be the last word for the next 25 years....
...Only 6 per cent forecast a fall in activity....
...The average price in March was 0.3 per cent higher than a year earlier, a much smaller annual rise than the 1.45 per cent predicted by economists polled by Reuters....
...The UK’s construction sector reported greater than expected activity in February, an indication that today’s Budget may be landing in a healthier economic environment than anticipated....
...However, the bank has been cautious about moves that would lead to a downgrade of its rating....
...The consumer confidence index, a leading indicator of consumer spending that measures people’s views of their personal finances and the state of the economy, fell to minus 21 in February from a two-year...
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