Ex-Bank of England adviser interest rate rise would be a ‘disaster’

A former Bank of England adviser today delivered a stark warning that raising interest rates now to control inflation would be a ‘disaster’. David Blanchflower said the increasing ‘mood music’ that rates are about to be lifted was ‘foolish’ as price rises coming through the system now are almost certainly ‘terribly temporary’. The economist, currently … Read more

PM heads back from Spain break as poll shows Tory lead over Labour UP

Boris Johnson arrived back in the UK today after a poll found his lead over Keir Starmer has stretched to 10 points despite mounting chaos in supply chains and surging inflation. The PM has spent the week on holiday in Spain with his wife Carrie and son Wilfred amid a fresh wave of grim warnings about … Read more

Bank of England’s chief economist warns of prolonged inflation spike 

Bank of England’s chief economist warns the ‘magnitude and duration’ of the UK’s inflation spike is ‘proving greater than expected’ amid fears of runaway price increases Bank of England’s new chief economist has issued an inflation warning to MPs Huw Pill said ‘magnitude and duration’ of spike is ‘proving greater than expected’ But Mr Pill … Read more

Rishi Sunak plans to replace our cash with official digital currency

The Britcoin revolution! Rishi Sunak plans to replace our cash with official digital currency in ‘biggest upheaval in the monetary system for centuries’ Bank of England would establish a direct digital equivalent to physical money Supporters say the move will give the economy a boost during a financial crisis  Could slash cost and time it … Read more

Bank of England vows to improve diversity after internal review

Bank of England vows to improve diversity after internal review found ethnic minority staff are less likely to be promoted and their white colleagues are paid more Internal review at Bank of England discovered failures in institution’s diversity  Ethnic minorities less likely to be promoted and paid less than white colleagues Bank also missed its own … Read more

David Cameron will be grilled by MPs next week over the Greensill lobbying row

David Cameron will be grilled by MPs next week over the Greensill lobbying row Finance boss Lex Greensill to appear before the Treasury committee on Tuesday Paid advisor David Cameron urged Rishi Sunak to lend millions to Greensill firm Company subsequently filed for insolvency, threatening thousands of UK jobs  By Daily Mail Reporter Published: 22:00 … Read more

Mortgage borrowing reaches record £11.8billion high in a month

Mortgage borrowing reaches record £11.8billion high in a month as housing market is fuelled by stamp duty holiday and low mortgage rates Figures show net mortgage borrowing is at the highest since records began Housing experts say home owners are taking advantage of low mortgage rates  The break from stamp duty is also sending borrowing … Read more

Mortgage borrowing reaches record £11.8billion high in a month

Mortgage borrowing reaches record £11.8billion high in a month as housing market is fuelled by stamp duty holiday and low mortgage rates Figures show net mortgage borrowing is at the highest since records began Housing experts say home owners are taking advantage of low mortgage rates  The break from stamp duty is also sending borrowing … Read more