UKEconomy

Bank of England Supports Reeves' Budget Ahead of Key Movements in the Gilt Market

4 months ago

The Bank of England continues to closely monitor the gilt market, which represents a crucial aspect for future budget decisions by the Treasury led by Claire Reeves. Amid growing financial difficulties and uncertainty, Reeves plans to present budget amendments in the face of adverse economic conditions threatening the country's stability and social spending demands.

Unexpected Decline in UK House Prices Signals Market Shift

5 months ago

According to the latest report by Nationwide, a major mortgage lender in the UK, house prices have unexpectedly recorded a decline, marking the most significant drop since June 2020. Data released by Nationwide indicates that for the month of August 2024, average house prices fell by 0.8%, bringing the typical home value down to £258,000. This unexpected downturn has raised concerns among economists regarding the stability of the housing market, especially in light of ongoing economic pressures such as rising interest rates and the cost-of-living crisis.

Bank of England May Cut Interest Rates More Frequently Than Traders Expect, Says Abrdn

5 months ago

The Bank of England (BoE) is facing pressure from economists and investors who suggest current expectations for interest rate cuts are insufficient. Financial firm Abrdn believes that traders are pricing in a more conservative outlook on the likelihood of rate cuts than necessary, which may lead to a significant impact on the markets.