Author: Paul Hannon

Businesses expect the prices they charge to rise by 3.8% over the coming 12 months, a decrease from the 3.9% expected in July.

The Bank of England should raise its key interest rate to limit the risk that inflation will stay above its target for a prolonged period, Chief Economist Huw Pill said.

The U.K. government is taking action to cut its debts and will continue to stick to its self-imposed budget rules, Prime Minister Andy Burnham told lawmakers Wednesday.

The U.K. government borrowed more in July than a year earlier as an increase in spending more than offset record revenues from income taxes.

The Bank of England is unlikely to raise its key interest rate this year or next, despite a sharp pickup in inflation over the second half of 2026, the National Institute of Economic and Social Research said.

Russia’s central bank cut its key interest rate for a tenth straight meeting, despite raising its forecast for inflation to reflect Ukraine’s drone attacks on Russian oil refineries.

European governments have cut their borrowing at the start of their fiscal years, but further progress is set to be more challenging if growth slows in response to higher energy costs that have accompanied the Middle East conflict.