The Bank of England has opted to maintain the interest rate at 4.75%, amid concerns about persistent inflation and its impact on economic growth, as Chancellor properties focus on supporting stability despite the challenging forecast.
Britain is experiencing increased borrowing costs as concerns over “stagflation” cause anxiety among gilt investors, with inflation rising to 2.6% and economic growth showing signs of slowing.
A Kremlin general involved with chemical weapons has been killed in a Moscow explosion, allegedly orchestrated by Kyiv operatives, amidst heightened tensions and previous warnings from Ukraine.
Businesses are reducing hiring efforts due to the impact of Budget-related tax increases, with the fastest decline in employment since 2021 as employers cite rising National Insurance contributions and diminished confidence.