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Jack Barnett

Jack Barnett

City A.M.

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Bank of England finally administers bitter medicine to treat inflation

A fresh hawkish impetus was injected into the monetary policy committee’s (MPC) interest rate decision statement yesterday. (Photo by Henry Nicholls...

05.08.2023 7

City A.M.

Jack Barnett

Bank of England interest rate decision today on a knife edge, City economists predict

Are the monetary policy committee (MPC) poised to meet market expectations of a 25 basis point increase? (Photo by Dan Kitwood/Getty Images) As the...

03.08.2023 8

City A.M.

Jack Barnett

Why the shock US credit rating downgrade is unlikely to be the last 

Late last night, Fitch said it is less confident the US – the world’s largest economy with a debt pile of over $30 trillion – will make good on...

02.08.2023 1

City A.M.

Jack Barnett

Are central banks to blame for the inflation crisis?

Central banks, though, as economist Mohamed El-Erian puts it, aren’t the “only game in town”. They are simply inflation stabilising vehicles...

01.08.2023 7

City A.M.

Jack Barnett

Eurozone economy pulls away from recession as inflation slips again to 5.3 per cent

Growth across the 20 countries that use the euro hit 0.3 per cent in the three months to June, according to the bloc’s statistics agency Eurostat ...

01.08.2023 7

City A.M.

Jack Barnett

British businesses locked in disputes with HMRC over possible unpaid tax

Some 61 per cent of 500 firms surveyed by consultancy BDO are embroiled in a tax dispute with HMRC More than half of British mid-sized firms are...

31.07.2023 3

City A.M.

Jack Barnett

UK private economy wilts amid high inflation and interest rates, CBI survey shows

Research by the lobby group the Confederation of British Industry (CBI) has found that activity across the private sector – which generates most...

31.07.2023 2

City A.M.

Jack Barnett

Bank of England to hike interest rates for 14th time in a row to 2008 high of 5.25 per cent

Members of the nine-strong monetary policy committee (MPC) are expected on Thursday to back a 25 basis point increase to the UK’s official interest...

31.07.2023 20

City A.M.

Jack Barnett

Taxpayer to hand over £150bn to Bank of England to cover QE losses

The Treasury is forecast to inject hundreds of billions of pounds into the central bank’s balance sheet to make up for a shortfall in its...

26.07.2023 50

City A.M.

Jack Barnett

UK recession risk just got a whole lot lower after inflation undershoot

It was the first time the Office for National Statistics’ calculations have undershot analysts’ forecasts since January’s numbers. It was also...

25.07.2023 7

City A.M.

Jack Barnett

Eurozone edges nearer to recession while UK economy ‘stalls’

A snapshot of the eurozone’s respective economies showed high inflation and the European Central Bank’s (ECB) efforts to tame it with interest...

24.07.2023 10

City A.M.

Jack Barnett

FTSE 100 live: Barclays, HSBC and Lloyds pull London index lower ahead of earnings season 

The capital’s premier index fell 0.14 per cent to 7,652.79 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with...

24.07.2023 3

City A.M.

Jack Barnett

UK inflation will top Bank of England two per cent target until end of 2024, EY claims

Prices are set to ease much slower than previously expected due to food and energy costs remaining elevated, according to consultancy EY Item Club ...

24.07.2023 5

City A.M.

Jack Barnett

Brits finally sober up to high inflation and interest rate hikes as confidence slides

Consumer confidence has dropped for the first time since January, down six points to minus 30 in July, according to research from GfK which dates back...

22.07.2023 6

City A.M.

Jack Barnett

Pound slumps as City cuts Bank of England interest rate bets after shock inflation fall

Britain’s currency shed nearly one per cent against the US dollar, its largest fall in months, to buy $1.29. It was down a similar amount against...

21.07.2023 20

City A.M.

Jack Barnett

Bank of England must keep raising rates to finally kill off inflation, City experts say

Signs of sticky price pressures require further rate rises, experts claim (Photo by Dan Kitwood/Getty Images) The Bank of England should not yet let...

20.07.2023 4

City A.M.

Jack Barnett

Inflation tumbles faster than expected to its lowest level in over a year at 7.9 per cent

The rate of price growth fell to 7.9 per cent in June, down from 8.7 per cent in May, according to the Office for National Statistics Inflation has...

20.07.2023 6

City A.M.

Jack Barnett

Bank of England dishes out £25m in bonuses despite Andrew Bailey demanding wage restraint

Threadneedle Street rewarded staff with a total of £25m in one-off handouts over the last year, up from £23m in the previous year, according to a...

19.07.2023 3

City A.M.

Jack Barnett

In defence of landlords, by the Bank of England

House prices fell by 0.1% Few people in Britain draw as much scorn than landlords.         It’s easy to understand why. Young people...

18.07.2023 4

City A.M.

Jack Barnett

UK inflation to fall to lowest level since March 2022 but Bank of England still tipped to hike interest rates

The rate of price growth in Britain is expected to have dropped to 8.2 per cent in June, down from 8.7 per cent in May, the City expects numbers from...

17.07.2023 5

City A.M.

Jack Barnett

Bank of England interest rate hikes trigger record £2.1 trillion UK wealth collapse, report claims

Asset values have collapsed by £2.1 trillion since early 2021, mainly driven by a sharp fall in bond prices in response to UK borrowing costs rising...

17.07.2023 6

City A.M.

Jack Barnett

US inflation slumps to lowest level in more than two years and is now well below UK

Despite the consumer price index falling to its lowest level in over two years, analysts still think the Federal Reserve will resume raising interest...

14.07.2023 8

City A.M.

Jack Barnett

FTSE 100 live: Barclays, NatWest and Lloyds all surge after Bank of England gives clean bill of health to lenders

The capital’s premier index added 0.51 per cent to trade at 7,319.72 points, while the domestically-focused mid-cap FTSE 250 index, which is more...

12.07.2023 3

City A.M.

Jack Barnett

UK families set for another year of cost of living crisis and £65bn hit to finances

Household finances will be corroded by rising living costs and elevated rates until at least May 2024, according to calculations by consultancy Retail...

12.07.2023 2

City A.M.

Jack Barnett

The FTSE 100 has done us all dirty… again

At the start of the year, the index of Britain’s top companies raced out of the blocks. It powered far ahead of its Wall Street rivals the S&P 500,...

11.07.2023 9

City A.M.

Jack Barnett

Accelerating redundancies ‘big concern’ for UK economy as firms sweat over recession

Company layoffs have pushed the volume of unemployed workers available for jobs to its highest level since December 2020, when the UK was in the teeth...

10.07.2023 3

City A.M.

Jack Barnett

Wage growth has ‘passed its peak’ as Andrew Bailey prepares to address City on interest rates 

Pay growth is said to have “passed its peak” after raging for more than a year, fuelled by staff demanding wage increases to compensate for...

10.07.2023 7

City A.M.

Jack Barnett

Less than half of companies plan to hike prices in boost for Bank of England and inflation

Analysis from the British Chambers of Commerce (BCC) found that companies are considering scaling back price rises in response to costs receding...

07.07.2023 2

City A.M.

Jack Barnett

UK now only rich country where inflation is rising despite Bank of England interest rate hikes

Inflation across the Group of Seven (G7) nations fell to 4.6 per cent in May, down from 5.4 per cent in April, according to the Organisation for...

07.07.2023 20

City A.M.

Jack Barnett

Inflation falling rapidly but not enough to avert 14th straight Bank of England rate rise, experts warn

A reduction in energy and transport bills caused by international gas markets and supply chains repairing from a series of shocks is being cancelled...

07.07.2023 4

City A.M.

Jack Barnett

FTSE 100 tumbles to year low and gives up 2023 gains after hitting record high just months ago

The capital’s premier index cratered 2.24 per cent, its biggest one day fall since March, to close at 7,275.60 points, while the...

07.07.2023 7

City A.M.

Jack Barnett

Much like the UK economy, pound sterling suffers from a certainty deficit

Barrelling around in the piping of the UK economy so far this year has been a sustained pound sterling rally. Britain’s currency in 2023 has been...

04.07.2023 5

City A.M.

Jack Barnett

Let’s all hand our cash over to the Treasury to pay off UK’s £2.5 trillion debt pile (not)

Here’s a fun fact. If everyone in the UK worked for a year and gave all their earnings to the Treasury, the government could nearly repay the...

27.06.2023 6

City A.M.

Jack Barnett

Bank of England risks steering UK into needless recession with more interest rate hikes

​​Back in November, the Bank of England took the highly unusual step of explicitly telling financial markets to calm their sky high bets on where...

20.06.2023 8

City A.M.

Jack Barnett

Investment slump amid higher interest rates risks finally sparking UK recession

A mix of factors are buffeting the UK economy right now. Spending power is being crushed by high inflation eroding family finances. House prices are...

06.06.2023 10

City A.M.

Jack Barnett

Yes, inflation will fall – but back to Bank of England target? Well, that’s anyone’s guess

Inflation is definitely on its way down, but no thanks to the Bank of England – well, yet. Most of the drop will be driven by energy price rises...

23.05.2023 6

City A.M.

Jack Barnett

UK isn’t alone in this recession merry-go-round – just look at Europe

It’s worth remembering that Britain isn’t some sort of pariah in the rich world that’s undergoing a tough economic slump, which is threatening...

16.05.2023 30

City A.M.

Jack Barnett

Why you should never, ever bet against UK house prices

Remember the start of the year?  “UK house prices have gone into sharp reverse over recent months. And we expect that elevated mortgage rates will...

09.05.2023 30

City A.M.

Jack Barnett

Take your seat for the Bank of England, Federal Reserve and central banks’ final act

This is the final act in central banks’ aggressive interest rate hike cycle. Well, so say most analysts. “There’s a growing sense that the...

02.05.2023 20

City A.M.

Jack Barnett

Britain’s renters are the real victims of this inflation and interest rate crunch

People doubtless would’ve gasped at headlines last week about UK interest rates being on course for five per cent.  Such a path looked...

25.04.2023 4

City A.M.

Jack Barnett

Inflation sliding and tough Bank of England means the pound will see better days

“Hope is not a strategy,” Jordan Rochester, a wonk at Japanese investment bank Nomura, said last September, referring to politicians’ attempts...

18.04.2023 7

City A.M.

Jack Barnett

Let’s face it: Profiteering is feeding the inflation beast, not just pay rises

Inflation is a pernicious beast that is plainly bad for people and businesses.  It can ease governments’ debt burdens by (artificially) boosting...

04.04.2023 10

City A.M.

Jack Barnett

Why the Bank of England and Fed could welcome Credit Suisse and Silicon Valley Bank failures

There’s been reams and reams of wild predictions about whether we’re slipping into another financial crisis, triggered by the collapse of US tech...

28.03.2023 10

City A.M.

Jack Barnett

Credit Suisse and Silicon Valley Bank chaos are symptoms of fragile banking system

City folk around in 2007 must have been getting very twitchy over the last week. Some of the market moves were reminiscent of the early stages of the...

21.03.2023 20

City A.M.

Jack Barnett

Why does the Bank of England (secretly) want to sack you? To hose down the inflation fire

Whisper it very, very softly, but the Bank of England (secretly) is trying to force you out of the job. That’s right. Governor Andrew Bailey wants...

14.03.2023 10

City A.M.

Jack Barnett

Jeremy Hunt is at sharp end of economic consensus on childcare revolution

It’s rare for consensus to emerge in economics. Quibbles about the role of the state in society, the level of taxation and where to spend...

07.03.2023 10

City A.M.

Jack Barnett

End of Bank of England £800bn bond buying scheme poses headaches for Treasury and taxpayers

The magic money tree is shedding its leaves. Over a decade of cheap cash propping up the global economy has been toppled by a once in a generation...

28.02.2023 30

City A.M.

Jack Barnett

Jeremy Hunt’s fiscal rules are holding back the UK economy – it’s time for change

Bean counters are running the Treasury again.  I’m imagining sheets of paper plastered with Jeremy Hunt’s current fiscal rules pinned up around...

21.02.2023 20

City A.M.

Jack Barnett

The £200bn Covid savings war chest that could prevent a UK recession

There’s a war chest of nearly £200bn – which started to be built up during the pandemic and has grown ever since – that could save the UK from...

14.02.2023 10

City A.M.

Jack Barnett

House prices are poised to slide in 2023 but straight into the hands of the lucky few

There’s a pretty wild variety of house price predictions doing the rounds. Capital Economics have forecast they could fall 12 per cent, while...

07.02.2023 20

City A.M.

Jack Barnett

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