The International Monetary Fund (IMF) has criticised the UK government’s mini-budget, saying the plans for tax cuts and spending will increase inequality and counteract the Bank of England’s monetary policy. The conflicting government and currency policies, of seeking to ramp up growth via tax cuts and rein in inflation through interest rate rises, attracted sharp
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Shoppers are paying a record 10.6% more for food than they were a year ago, figures show. Overall shop price inflation accelerated to 5.7% in September, up from 5.1% in August, in another record since the British Retail Consortium-Nielson IQ index began in 2005. Food price inflation rocketed past last month’s 9.3% to 10.6%, driven
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Two more of the biggest mortgage providers have suspended mortgage deals as the Bank of England signalled it would raise interest rates to rein in inflation after the chancellor’s mini-budget. Santander and HSBC withdrew mortgage products on Tuesday as the Bank’s chief economist indicated it would hike interest rates to new highs in November and
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Sky’s Stuart Ramsay reports from the border between Mykolaiv and Kherson Oblasts where Ukrainians forces continue to stand up to Russian aggression. #skynews #russia #ukraine SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews Follow us on Twitter: https://twitter.com/skynews Like us on Facebook: https://www.facebook.com/skynews Follow us on Instagram: https://www.instagram.com/skynews Follow us on TikTok: https://www.tiktok.com/@skynews For
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The Bank of England’s chief economist has said the government’s mini-budget, which led to the pound falling to a record low against the dollar, will require “a significant monetary policy response”. Speaking at the International Monetary Policy Forum, Huw Pill reasserted the Bank of England’s willingness to act to rein in inflation. Mortgage repayments could
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NASA’s mission to deflect asteroid is a step towards preparing the world for a potential future asteroid strike like the one which killed the dinosaurs some 66 million years ago, the chances of which are very slim in our lifetime, Indian scientists said. In a first-of-its-kind mission, the Double Asteroid Redirection Test (DART) spacecraft successfully
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Mysterious leaks in the Nord Stream gas pipe network began with “powerful subsea blasts” and resulted from “deliberate actions”. Two pipelines running underwater from Russia to Germany were damaged in a total of three places on Monday. Nord Stream AG, the owner, described the breakages as “unprecedented”. The pipes were not pumping gas to Europe
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