The Office For National Statistics reports that the annual rate of growth in earnings, including annual bonuses, has slowed to 6.5 per cent.
Anticipation of interest rate cuts by the Bank of England has injected newfound optimism into the property sector.
Three prominent forecasters – Oxford Economics, Investec, and Deutsche Bank – have issued updates indicating a potential halving of the inflation rate to two per cent by April, forcing the Bank of England (BoE) to reconsider its timeline for the first interest rate cut.
Three prominent forecasters, including Oxford Economics consultancy, Investec, and Deutsche Bank, have revised their outlook for inflation in 2024.
Consultancy firm Cornwall Insight says bills could drop by £268 a 16 per cent decrease – in line with the official price cap set by the UK's energy regulator Ofgem.
The United Kingdom has witnessed a notable drop in the average cost of a two-year fixed-rate mortgage, falling below six per cent for the first time in nearly six months.
The Bank of England recently released its Financial Stability Report, spotlighting the resilience of UK households and businesses in the face of escalating interest rates.
AI and machine learning have been used across the financial sector for at least a decade, such as to help detect fraud and money laundering.
Rightmove foresees sellers having to adopt more competitive pricing strategies in 2024 to secure transactions.
The latest research from the consumer group Which? unveiled that 9.8 per cent of surveyed households admitted to missing or defaulting on payments for loans, credit cards, housing, or household bills during that period.
The House of Lords Economic Affairs Committee released a report that critiques the Bank of England's scope of operation amidst the current cost of living crisis.
The report highlights the risk of a vicious cycle, where low interest rates fail to stimulate meaningful economic growth and cause a recession.
The financial impacts of Brexit have left UK business investment levels "chilled", according to the Deputy Governor of the Bank of England.
In September, inflation stood at 6.7 per cent, as many people across the UK continue to struggle with the cost-of-living crisis.
Mortgage brokers have hailed Nationwide's decision as a "watershed moment", anticipating a revitalisation of the property market and instilling hope among borrowers.
UK retail sales growth declined in October as UK consumers are cautious of spending and saving for Christmas amidst the cost-of-living crisis which has sparked a recession for the UK economy.
Nine members of the Monetary Policy Committee (MPC) voted 6-3 in favour of maintaining the current rate, in a move that was widely anticipated.
HSBC, headquartered in London but primarily focused on the Asian market, announced pre-tax profits of $7.7 billion (£6.4 billion) for the third quarter spanning from July to September.
The preliminary reading of the S&P Global UK PMI for the services sector, often referred to as the "flash" PMI, fell to 49.2 in October from 49.3 in September.
The figures are worrying reading, as the Bank of England (BoE) prepares for its latest interest rate decision next week.
CPI reported a year-on-year increase of 6.7 per cent, maintaining the same pace as the previous month, contrary to economists' predictions of a dip to 6.6 per cent.
The latest sales-monitor report from the British Retail Consortium has revealed a slowdown in retail sales growth in the UK for September. Despite a fall in inflation, the high cost of living continues to place pressure on households' budgets.
