by Graeme Wearden on (#269X7)
Britain’s economy was stronger than initially thought in the immediate aftermath of the EU referendum
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Updated | 2025-09-13 12:15 |
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by Larry Elliott Economics editor on (#25BWG)
Uncertainty about inflation and the impact of article 50 mean growth folllowing Brexit vote is unlikely to lastInterest rates are going up in the US, but in the UK they are going nowhere.That, bluntly, was the message from the Bank of England as it announced its latest decision on borrowing costs less than 24 hours after the US Federal Reserve not only tightened policy but signalled more to come in 2017.Related: Bank of England leaves UK interest rates on hold at 0.25% Continue reading...
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by Katie Allen on (#25BM4)
Monetary policy committee votes to keep rates unchanged, but warns of likely slowdown in growth next yearThe Bank of England has left interest rates at their record low of 0.25% but repeated a warning that higher inflation and slower wage growth risk squeezing household budgets and spending next year.The Bank’s nine-strong monetary policy committee voted unanimously to keep rates on hold and maintain the current programme of electronic money printing known as quantitative easing. Policymakers had cut rates and expanded QE back in August to shore up confidence in the wake of June’s vote to leave the EU.Related: Bank of England leaves UK interest rates at record lows - business live Continue reading...
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by Jessica Elgot and Rowena Mason in London and Jenni on (#25B2A)
UK’s ambassador to EU is reported to have told PM of view that deal will not be finalised until early to mid-2020sEurope’s politicians believe a trade deal with the UK could take up to a decade or more and could still fail in the final stages, Downing Street has been warned by the UK’s ambassador to the EU.Sir Ivan Rogers, who conducted David Cameron’s renegotiation with the EU before the referendum, is reported to have told Theresa May that European politicians expect that a deal will not be finalised until the early to mid-2020s, according to the BBC. That deal could still be rejected by any of the 27 national parliaments during the ratification process.Related: Reality check: will it take 10 years to do a UK-EU trade deal post Brexit?Related: 'It terrifies me': Britons in Europe on how Brexit is going to affect themRelated: Philip Hammond: Japanese banks are concerned about Brexit Continue reading...
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by Martin Farrer and agencies on (#25ASH)
Currencies felt the pain around Asia as investors reacted to unexpectedly bullish comments by Fed chair Janet YellenThe prospect of three more hikes in US interest rates next year has sent the dollar to a 14-year high and caused a selloff on most Asian markets.
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