KPMG predicts "mild" UK recession in 2023
The Big Four accounting firm expects the UK's gross domestic product growth to halve this year and slow further in 2023
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Bank of England
PRIVATE:BOE
The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people. The Bank was established in 1694 to act as banker to the Government. We are still owned by the Government, but we set monetary policy independently.
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Week ahead features Capita, Bunzl, Moonpig, Petrofac and Hunting
With no major central bank meetings, the macroeconomic focus will be on the outlook for economic growth and of course inflation
Barclays ups challenge to Lloyds in UK mortgage sector
Barclays expects to add a £2bn portfolio of residential mortgages to its UK loan book this year
Gold is up by significantly more in sterling than in dollar terms, but that’s not necessarily good news for anyone
Gold is holding its own fairly well, as the dollar sweeps everything else before it
FTSE to fall to trough 'by end of 2023' as gilt yields rise faster
As other central banks try to wrestle inflation by raising interest rates faster and to higher levels than the Bank of England, this will hit the price of UK government bonds, sending yields higher
Use it or lose it - Britons have only 100 days to spend old £20 and £50 notes
There are still £14bn worth of paper notes in circulation - 300 million £20 banknotes and 160 million £50 notes
UK inflation hits 40-year high as food and fuel soar
Inflation is expected to climb even higher to around 11% this autumn.
Investments and investor services
Central banks could "wrongfoot" investors, Fidelity warns
Banks could put the brakes on monetary tightening to stop the economy careering off a fiscal cliff, investors are warned
FIVE at FIVE: FTSE losses lengthen, BoE raises interest rates, Asos issues profit warning, Apple sued for 'throttling' old phones, FCA makes lender plea
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
BoE rate rise: Typical tracker mortgage payments to rise by £27 a month
The Bank of England is expected to increase its bank rate to 1.25% from 1%.
Archive
FTSE 100 tanks 3% as markets go into tailspin over rates
The UK index of top shares finished down around 228.43 points, or 3.14%, at 7,044.98
What are the UK, US and Europe doing with interest rates?
Wednesday evening’s expected 0.75 percentage point increase in America, which would be the first since 1994, would be the third in as many months following 40-year high inflation in March
Inflation-linked bonds are an untested market with high but unproven promise
Inflation-linked bonds could help investors hedge against losses in savings, but when monetary easing puts a lid on inflation, their value will take a tumble
BoE and Fed both expected to hike rates but what they say will be key
If Bank of England hawks are in the ascendant it might help boost the pound from its recent lows, whereas a retreat could send sterling down to $1.20
Rishi Sunak under fire for £11bn extra cost of QE debt
It was the Bank of England’s decision to implement quantitative easing said The Treasury
Archive
FTSE 100 closes with hefty falls as Wall Street drops following US inflation shocker
At the close, the UK blue-chip index was down 158.69 points, or 2.1% at 7,317.52, above the day's low of 7,294.20 but well below the session peak of 7,476.21
Archive
Bank of England to report on inflation on Friday
The two most important readings to track are the 12-month ahead index and the “more important” medium-term inflation expectations measure
UK economic growth to 'grind to a halt' as inflation and war on Ukraine weigh
This dreary outlook echoed the OECD's warning Britain’s growth in 2023 would be worse than all G20 countries excluding Russia
Analysts forecast further monetary stimulus after Boris ‘no-confidence’ vote
"This is unlikely to be the end of turmoil and the victory is not clear enough to draw a line under the past few months"
Archive
FTSE 100 closes weaker but off lows, mirroring Wall Street morning performance
At the close, the UK blue-chip index was down 9.29 points, or 0.1% at 7,598.93, above the day's low of 7,570.67 but below the session peak of 7,617.53