Andrew Bailey, the governor of the Bank of England, has suggested that interest rates might have reached their highest point, following 10 consecutive hikes in the official borrowing cost since
Andrew Bailey, the governor of the Bank of England, has suggested that interest rates might have reached their highest point, following 10 consecutive hikes in the official borrowing cost since
The FTSE 100 achieved a new record high with the help of positive corporate earnings from Centrica and Standard Chartered, while higher commodity prices buoyed miners.
The FTSE 100 has ended the trading day on another record high, closing 1.42pc higher at 7,947.60 points.
The FTSE 100 reached an all-time record, buoyed in part by a string of positive earnings and merger talks linked to Standard Chartered.
After Jerome Powell, the chairman of the US Federal Reserve, indicated that the pace at which interest rates rise might slow down in the new year, the FTSE 100 hit
Despite some notable surprises from the constituents, the FTSE AIM All-Share Index ended the five-day period 2.25% better at 886.88p.
The Bank of England raised interest rates by 0.5% to 4pc. This is the highest rate since the financial crisis.
The Bank of England warned that Britain’s workforce would be permanently smaller following the pandemic. This will lead to stagnation.
After climbing 1.03pc to 7,900.41 today, the FTSE 100 closed at a record-breaking high. This means that the blue-chip index broke the May 22nd, 2018 record of 7,877.45. The FTSE
A majority of 7-2 votes in favour of increasing the Bank Rate by 0.5% to 4% by the Monetary Policy Committee.
The Bank of England will raise interest rates for the tenth time in succession at its policymakers’ meeting this week to further squeeze the finances of businesses and mortgage holders.