Page 2 - Peter Arnold News Today

It cuts rates by 1 percentage point

Public borrowing soared by more than expected in April, official data showed on Wednesday, on the back of lower National Insurance receipts.

Inflation fell to 2.3 per cent in April, down from 3.2 per cent in March. That's quite a big fall, but it was not as big as expected.

ONS says budget deficit £1.5bn higher than previous year due to increased spending on benefits and weaker tax revenues

The British pound edged lower against the U.S. dollar on Tuesday before the Bank of Englands policy announcement on Thursday as markets moved to fully price in two quarter-point rate cuts this year. ...

The Bank of England’s rate-setting body is likely to keep interest rates on hold at 5.25% for the sixth time in a row when it meets on Thursday, as stronger wage and inflation data has pushed back the chances of a summer rate cut.    Deutsche Bank expects a 7-2 vote for holding the rate at a 16-year high, with deputy

The average UK house price rose by 0.1 percent month-on-month in April, after a fall of 0.9 percent in March, according to an index.

Affordability constraints are a significant challenge, the bank said, as its index showed the average property value rose by 0.1 month-on-month.

UK house prices returned to growth in April, with the housing market "finding its feet in an era of higher interest rates", according to data released on Tuesday by Halifax.

Figures compiled by EY showed the number of overseas-backed projects rose by 6 per cent to 985 in the UK while struggling France and Germany saw declines of 5 per cent and 12 per cent.