Japan’s central bank has raised the cost of borrowing for only the second time in 17 years as it tries to normalise monetary policy in the world’s fourth largest economy. The Bank of Japan (BoJ) increased its key interest rate…
UK tipped for speedier rate cut after surprise inflation fall
A surprise fall in inflation in November has raised hopes that the Bank of England will begin cutting interest rates sooner than expected. Inflation – the rate prices rise at – fell from 4.6% to 3.9% last month, the lowest…
Bank of England hikes interest rates to 5%, stoking fears of a ‘‘mortgage bomb’’
The Bank of England raised interest rates by half a percentage point Thursday, after data this week revealed surprisingly stubborn inflation. The move will pile pain on people with mortgages and put more downward pressure on house prices. The decision…
Bank of England expects UK to fall into longest ever recession
The Bank of England has warned the UK is facing its longest recession since records began, as it raised interest rates by the most in 33 years. In its outlook for the UK economy, it said the country would face…
UK real wages decline at record rate as inflation soars
UK real wages, which reflect the power of employee’s pay after accounting for inflation, fell by an annual 3% in the last quarter, according to data released by the Office of National Statistics on Tuesday. While average pay — excluding…