According to a former Bank of England interest rate setter, the higher number of homeowners on fixed-rate mortgage deals is exacerbating the turmoil in the lending market. Michael Saunders, who served on the Monetary Policy Committee until August, believes that the time it takes for rates to impact the economy has lengthened significantly. This uncertainty …
The Federal Reserve made a noteworthy decision last night by pausing its aggressive round of interest rate increases, the most significant since the 1980s. However, they refrained from celebrating victory over inflation. Instead of opting for the eleventh consecutive increase, the US central bank chose to maintain its target at 5% to 5.25%. Surprisingly, they …
According to the Office for National Statistics, regular pay excluding bonuses has witnessed its fastest pace on record outside the pandemic period, rising by 7.2% in the three months leading up to April. While this is good news for workers, other global events have also made headlines. 5 things to start your day 1) The …
China’s total trade with Russia has reached levels not seen since the beginning of Vladimir Putin’s war in Ukraine, as per official data showing its increased support for its sanctions-hit ally. Trade between the two countries was worth $20.5bn (£16.5bn) last month, with Chinese imports from Russia worth $11.3bn. No official breakdown of the numbers …