Submitted May 8, 2025|From @financialjuice|19 comments

BREAKING: US-UK trade pact will leave the 10% US tariff in place - CNN.

Submitted May 8, 2025|From dol.gov|3 comments

In the week ending May 3, the advance figure for seasonally adjusted initial claims was 228,000, a decrease of 13,000 from the previous week's unrevised level of 241,000. The 4-week moving average was 227,000, an increase of 1,000 from the previous ...

Submitted May 8, 2025|From @LiveSquawk

BoE’s Gov Bailey: Disinflation In UK Has Continued - Interest Rates Are Not On Auto-Pilot - Do Not Expect Inflation Spike To Persist BoE Gov. Bailey: Tariffs and trade uncertainty weigh on activity. BoE’s Gov Bailey: Small Margin Of Slack Has Opened Up In UK Economy - He Expects Slack To Widen Over Next Couple Of Years - Expect Gradual Easing Of Inflation Pressure - Heightened Uncertainty Has Weighed On GDP Growth In The UK BoE Gov. Bailey: We welcome UK-US trade agreement reports, it would reduce uncertainty. BoE Gov. Bailey: It is important to look at how the markets have responded to the trade news.

Submitted May 8, 2025|From bankofengland.co.uk

Interest rates have been working to slow down price rises (inflation) over the past two years, so we are able to cut interest rates again today, to 4.25%. Inflation has been close to the 2% target since the middle of last year, from a peak of over ...

Submitted May 8, 2025|From bankofengland.co.uk|6 comments

The Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. The MPC adopts a medium-term and forward-looking approach to determine the monetary stance required to achieve the inflation target sustainably. At its meeting ending on 7 May 2025, the MPC voted by a majority of 5–4 to reduce Bank Rate by 0.25 percentage points, to 4.25%. Two members preferred to reduce Bank Rate by 0.5 percentage points, to 4%. Two members preferred to maintain Bank Rate at 4.5%. There has been substantial progress on disinflation over the past two years, as previous external shocks have receded, and as the restrictive stance of monetary policy has curbed second-round effects and stabilised longer-term inflation expectations. That progress has allowed the MPC to withdraw gradually some degree of policy restraint, while maintaining Bank Rate in restrictive territory so as to continue to squeeze out persistent inflationary pressures. BANK OF ENGLAND:AT ITS MEETING ENDING ON 7 MAY 2025, THE MPC VOTED BY A MAJORITY OF 5-4 TO REDUCE BANK RATE BY 0.25 PERCENTAGE POINTS, TO 4.25% BOE: 5 MPC MEMBERS BACKED 25 BPS CUT, 2 VOTED FOR 50 BPS CUT, 2 WANTED TO KEEP RATES ON HOLD || BOE POLICYMAKERS DHINGRA AND TAYLOR… BoE: Monetary Policy Is Not On A Pre-Set Path - Increase In Trade Tariffs Means Global Growth Prospects Have Weakened But Drag On Uk Growth, Inflation Likely To Be Smaller - Progress On Domestic Disinflation Is Generally Continuing, Pay Growth Expected To Slow Significantly Rest… Bank of England cuts interest rates by a quarter point to 4.25% Millions of home owners and businesses today celebrated lower mortgage and interest bills after the Bank of England cut interest rates by a quarter point to 4.25%. The Bank’s rate setting Monetary Policy Committee (MPC) voted 5-4 to reduce the cost of borrowing for the fourth time in less than a year after similar moves in August, November and February. Interest rates are now at their lowest level since May 2023. Two members of the MPC voted for a bigger 0.5% cut while another two preferred keeping the rate at 4.5%. Today’s move, which was in line with City forecasts, will mean an immediate cut in monthly mortgage bills for millions of borrowers on tracker or variable rates that move in line with the Bank’s decisions. Thousands of small and medium sized businesses labouring with huge debts on variable rates will also get relief. Expand article logo

Submitted May 8, 2025|From @realDonaldTrump|22 comments

“Too Late” Jerome Powell is a FOOL, who doesn’t have a clue. Other than that, I like him very much! Oil and Energy way down, almost all costs (groceries and “eggs”) down, virtually NO INFLATION, Tariff Money Pouring Into the U.S. — THE EXACT OPPOSITE OF “T...

Submitted May 8, 2025|From @realDonaldTrump|9 comments

The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come. Because of our long time history and allegiance together, it is a great honor to have the Uni...