Downing Street has rejected Rachel Reeves’ suggestion that Donald Trump was responsible for Britain’s economic underperformance.
Downing Street has rejected Rachel Reeves’ suggestion that Donald Trump was responsible for Britain’s economic underperformance.
Rachel Reeves faces a looming £20bn deficit in public finances, driven by soaring interest rates and weakening economic growth, economists at JP Morgan warn.
Rachel Reeves has been accused of “dragging the economy into stagnation” with her reference to a “£22bn black hole” in the public finances. Official data revealed that November’s growth fell
The Chancellor’s decision to travel to China while bond markets turn against Britain highlights a much larger issue, and it’s not a positive signal.
The British pound has fallen to a nine-month low amid a significant rise in government borrowing costs, pushing Chancellor Rachel Reeves close to breaching her own fiscal rules.
Economists predict that the British pound will reach $1.35 next year, providing a favourable exchange rate for those converting currencies for holidays.
The Telegraph newspaper reported that Michael Saunders, Bank of England policymaker, advised households to prepare for “significantly earlier” interest rate increases as inflation pressures the British economy.
Shaun Richards is an independent economist who specialises in inflation measurement and monetary economics, Adviser to pension and investment funds. Bank of England watcher.
I find the price action of equity markets disturbing. Friday is a case in point as the US Dow Jones rallied over 3% after a week of strong gains.