Bank of England Downgrades UK Growth Forecast to Zero, Blaming Labour's Budget
The Bank of England slashed its UK growth forecast to zero for the final quarter of 2024, blaming Chancellor Rachel Reeves's £25 billion National Insurance hike for crushing business confidence and potentially triggering a recession; pre-Budget growth was described as 'gangbusters'.
Bank of England Downgrades UK Growth Forecast to Zero, Blaming Labour's Budget
The Bank of England slashed its UK growth forecast to zero for the final quarter of 2024, blaming Chancellor Rachel Reeves's £25 billion National Insurance hike for crushing business confidence and potentially triggering a recession; pre-Budget growth was described as 'gangbusters'.
Progress
68% Bias Score
Bank of England Holds Rates Amidst Inflation and Growth Concerns
The Bank of England's Monetary Policy Committee voted 6-3 to hold interest rates at 4.75% due to October's wage growth exceeding 5% and inflation reaching 2.6%, despite concerns about zero economic growth following Labour's budget and the risk of recession.
Bank of England Holds Rates Amidst Inflation and Growth Concerns
The Bank of England's Monetary Policy Committee voted 6-3 to hold interest rates at 4.75% due to October's wage growth exceeding 5% and inflation reaching 2.6%, despite concerns about zero economic growth following Labour's budget and the risk of recession.
Progress
48% Bias Score
Bank of England to Hold Interest Rates Amid Inflation and Recession Fears
The Bank of England is expected to hold interest rates at 4.75 percent today, despite November inflation rising to 2.6 percent and fears of a recession following recent tax increases. Economists cite the need to balance inflation control with economic growth.
Bank of England to Hold Interest Rates Amid Inflation and Recession Fears
The Bank of England is expected to hold interest rates at 4.75 percent today, despite November inflation rising to 2.6 percent and fears of a recession following recent tax increases. Economists cite the need to balance inflation control with economic growth.
Progress
52% Bias Score
UK Inflation Rises to 2.6%, Interest Rates Unlikely to Fall
UK inflation increased to 2.6% in November, the fastest rate since March, due to higher petrol, diesel, tobacco, and other goods prices; despite this, the Bank of England is not expected to cut interest rates due to wage growth, though prices will likely remain higher than before.
UK Inflation Rises to 2.6%, Interest Rates Unlikely to Fall
UK inflation increased to 2.6% in November, the fastest rate since March, due to higher petrol, diesel, tobacco, and other goods prices; despite this, the Bank of England is not expected to cut interest rates due to wage growth, though prices will likely remain higher than before.
Progress
36% Bias Score
UK Inflation Rises to 2.6% in November
UK inflation climbed to 2.6% in November, exceeding September's three-and-a-half-year low of 1.7%, driven by rising energy prices, a tight labor market, and recent government spending increases; the Bank of England is unlikely to cut interest rates in December.
UK Inflation Rises to 2.6% in November
UK inflation climbed to 2.6% in November, exceeding September's three-and-a-half-year low of 1.7%, driven by rising energy prices, a tight labor market, and recent government spending increases; the Bank of England is unlikely to cut interest rates in December.
Progress
36% Bias Score
UK Inflation Rises to 2.6% in November
UK inflation rose to 2.6 percent in November, driven by increased petrol and tobacco prices, partially offset by lower airfares; this follows October's 2.3 percent figure and adds pressure to Chancellor Rachel Reeves.
UK Inflation Rises to 2.6% in November
UK inflation rose to 2.6 percent in November, driven by increased petrol and tobacco prices, partially offset by lower airfares; this follows October's 2.3 percent figure and adds pressure to Chancellor Rachel Reeves.
Progress
44% Bias Score
Bank of England Holds Rates Amid Inflationary Pressures
The Bank of England's Monetary Policy Committee voted 6-3 to hold the Bank rate at 4.75% on December 18th, 2024, despite higher-than-expected wage rises and inflation, signaling a continued, albeit uncertain, path towards gradual interest rate cuts next year.
Bank of England Holds Rates Amid Inflationary Pressures
The Bank of England's Monetary Policy Committee voted 6-3 to hold the Bank rate at 4.75% on December 18th, 2024, despite higher-than-expected wage rises and inflation, signaling a continued, albeit uncertain, path towards gradual interest rate cuts next year.
Progress
40% Bias Score
BoE Holds Interest Rate at 4.75% Amid Rising Inflation
The Bank of England's Monetary Policy Committee voted 6-3 to hold the interest rate at 4.75 percent on December 18, 2024, citing rising inflation and wage growth, with a review pending in February.
BoE Holds Interest Rate at 4.75% Amid Rising Inflation
The Bank of England's Monetary Policy Committee voted 6-3 to hold the interest rate at 4.75 percent on December 18, 2024, citing rising inflation and wage growth, with a review pending in February.
Progress
36% Bias Score
Bank of England to Hold Interest Rates at 4.75%
The Bank of England is expected to hold interest rates at 4.75% today, despite November's inflation rising to 2.6%, exceeding the Bank's 2% target; analysts predict a gradual rate decrease, but recent wage growth suggests a longer hold may be necessary.
Bank of England to Hold Interest Rates at 4.75%
The Bank of England is expected to hold interest rates at 4.75% today, despite November's inflation rising to 2.6%, exceeding the Bank's 2% target; analysts predict a gradual rate decrease, but recent wage growth suggests a longer hold may be necessary.
Progress
36% Bias Score
UK Inflation Hits Highest Level Since March
UK inflation increased to 2.6% in November, the highest since March due to rising fuel prices, exceeding the Bank of England's 2% target and likely maintaining the current 4.75% interest rate.
UK Inflation Hits Highest Level Since March
UK inflation increased to 2.6% in November, the highest since March due to rising fuel prices, exceeding the Bank of England's 2% target and likely maintaining the current 4.75% interest rate.
Progress
36% Bias Score
UK Inflation Rises to Eight-Month High, Adding Pressure on Bank of England
UK inflation hit a eight-month high of 2.6% in November 2024, exceeding the Bank of England's target, driven by rising fuel and grocery prices, and a tobacco duty increase, despite a record drop in airfares; this adds pressure on the Bank to keep interest rates unchanged amidst concerns about slowin...
UK Inflation Rises to Eight-Month High, Adding Pressure on Bank of England
UK inflation hit a eight-month high of 2.6% in November 2024, exceeding the Bank of England's target, driven by rising fuel and grocery prices, and a tobacco duty increase, despite a record drop in airfares; this adds pressure on the Bank to keep interest rates unchanged amidst concerns about slowin...
Progress
48% Bias Score
UK Inflation Surges to Six-Month High
UK inflation hits a six-month high, exceeding the Bank of England's target and likely halting further interest rate cuts. This is partly due to the recent budget, increased spending, and business taxes.
UK Inflation Surges to Six-Month High
UK inflation hits a six-month high, exceeding the Bank of England's target and likely halting further interest rate cuts. This is partly due to the recent budget, increased spending, and business taxes.
Progress
40% Bias Score