UK Economy
- UK inflation latest: UK inflation falls to 2.3% as energy prices cool - BBC Newswww.bbc.co.uk UK inflation falls to 2.3% as energy prices cool - BBC News
"Today marks a major moment for the economy, with inflation back to normal," says Rishi Sunak.
- UK Treasury set for £100mn windfall from nationalised banks’ pension funds
Archive link for us less well off.
The most eye watering paragraph:
>The money will make a tiny dent in the government’s debt. Public sector net debt was £2.6tn at the end of September with the interest payable that month at £700mn, according to the Office for National Statistics.
Bugger.... 😞
- UK banks shun companies trading with Ukrainewww.politico.eu UK banks shun companies trading with Ukraine
British companies ‘afraid to trade with Ukraine’ due to threat of account closure from risk-averse banks, business chiefs warn.
cross-posted from: https://lemmy.zip/post/1518328
> Archived version: https://archive.ph/PAblT > Archived version: https://web.archive.org/web/20230816112128/https://www.politico.eu/article/uk-bank-close-accounts-british-smes-trading-with-ukraine/
- BBC News - Mortgage rates soar to highest level for 15 years
https://www.bbc.co.uk/news/business-66153812
- Bank of England raises base-rate to 5%www.bankofengland.co.uk Bank Rate increased to 5% - June 2023
Monetary Policy Summary and minutes of the Monetary Policy Committee meeting
For the 0.5% raise, the measure was voted in 7-2 (2 against advocating for remaining at the current rate).
- UK net debt passes 100% of GDP for first time since 1961 By Reutersuk.investing.com UK net debt passes 100% of GDP for first time since 1961 By Reuters
UK net debt passes 100% of GDP for first time since 1961
- UK CPI Latest May Statistics Show Inflation at 8.7%, Core CPI rose from 6.8% to 7.1%www.ons.gov.uk Consumer price inflation, UK - Office for National Statistics
Price indices, percentage changes and weights for the different measures of consumer price inflation.
- Looking to bring in extra mods as content grows.
If anyone is interested in helping moderate, please let me know by replying to this post.
I am expecting an influx of users after July 1st. Right now there is not a high amount of content to deal with, so I am winging it.
I need assistance with drawing up rules and governing the community. If you moderated a similar sub on Reddit prior to the exodus please message me.
- UK homeowners face huge rise in payments when fixed-rate mortgages expirewww.theguardian.com UK homeowners face huge rise in payments when fixed-rate mortgages expire
More than 2.4m deals are ending in 2024, raising fears of financial timebomb
More than a quarter of UK homeowners on a fixed-rate mortgage are heading for sharp increase in monthly payments before the next election, in a financial timebomb that will rock the Conservatives just as voters prepare to choose the next government.
With the Bank of England expected to increase its key interest rate next week for the 13th time, figures shared with the Guardian by UK Finance, the banking industry trade body, show more than 2.4m fixed-rate homeowner deals will expire between now and the end of 2024.
The prospect of millions of households facing a dramatic rise in borrowing costs comes after a week of renewed turbulence in financial markets as City traders bet the Bank rate would reach close to 6% before Christmas.
- Average two-year mortgage rate close to 6%www.bbc.co.uk Average two-year mortgage rate close to 6%
Lenders have been increasing the cost of new fixed-rate deals rapidly during a tumultuous week.
Wonder what has caused the sudden rise in the last few months
- Fewer UK firms expect to raise prices in month ahead - ONS By Reutersuk.investing.com Fewer UK firms expect to raise prices in month ahead - ONS By Reuters
Fewer UK firms expect to raise prices in month ahead - ONS
- Energy Update: Cornwall Forecasts Winter Caps Below £2k As Suppliers Mull Fixed Dealswww.forbes.com Energy Update: Cap Down £122 To £1,568 But Bills Still Almost £300 Higher Than 2022
1 July: Forecasters Expect Costs To Rise In October Today, 1 July 2024, sees the energy market’s domestic price cap fall by 7%, taking it from £1,890 to
- Vodafone Three deal to create UK's largest mobile firmwww.bbc.co.uk Vodafone Three deal to create UK's largest mobile firm
The deal is yet to be approved by regulators, which will look at whether it will push up customer prices.
- UK has no alternative to Bank interest rate rises to calm inflation - Huntwww.bbc.co.uk UK has no alternative to Bank interest rate rises to calm inflation - Hunt
Chancellor says he "unstintingly" supports the Bank of England to "do what it takes" to cut inflation.
- British Pound Hits 1-Month Highwww.tradingview.com British Pound Hits 1-Month High
The British pound brethly touched $1.26 on Tuesday, the strongest since May 10th as recent US inflation rate data reinforced the view that the Federal Reserve is set to stop the tightening campaign this month.On the other hand, the recent UK labor market report is putting additional pressure on the…
