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The Latest Breaking News from Michael Saunders

Treasury ‘putting the squeeze’ on OBR over Labour growth plans amid tensions over downgrade

Rachel Reeves may have to find up to £30bn in tax rises or spending cuts if forecaster revisits expectations

The Guardian - UK

UK could face up to £30bn of tax rises to fund defence spending boost, economist says

Sir Keir Starmer has vowed to boost defence spending to 2.7 per cent of GDP by 2027, as Nato allies push for ‘dramatic increase’

The Independent UK

The UK economy is a long way from blossoming despite glimmers of hope

A deeper recession was avoided only thanks to record immigration, and the MPC is bound to be cautious about cutting interest rates

The Guardian - UK

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Greedflation: the claim that businesses are making inflation worse

MPs, academics and trade unionists have accused supermarkets of deliberately “profiteering” from inflation, alleging that they are increasing food prices beyond the pace of inflation and their own rising costs.

The Week

The U.K. economist who told Brits to 'accept' being poorer apologizes—kind of

A top U.K. economist ruffled feathers with tactless remarks last month about inflation's primary cause.

Fortune

Bank of England predicted to raise interest rates one more time in May

Increase to 4.5% will be last rise in current cycle, former rate-setter Michael Saunders predicts

The Guardian - UK

Final UK interest rate rise expected in May; profits driving up inflation, warns ECB; US jobless claims rise – as it happened

Economists predict inflation will prompt Bank of England to lift rates again in May, for last time in current cycle

The Guardian - UK

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Brexit to blame for return to austerity, says leading economist

Former Bank of England policymaker Michael Saunders claims that the UK economy has been ‘permanently damaged’ by leaving the EU

Wales Online

Paris overtakes London as Europe’s largest stock market

Gap narrowing since Brexit referendum finally closes, according to Bloomberg

The Independent UK

Brexit ‘damage’ is cause of ‘austerity budget’, says ex-Bank of England economist

‘The need for tax rises, spending cuts, wouldn’t be there, if Brexit hadn’t reduced the economy’s potential output’

The Independent UK

London no longer Europe's largest stock market with gap blown since Brexit

LONDON has lost its crown as Europe’s largest stock market to Paris, with France closing a trillion-dollar market gap since the…

The National (Scotland)

Brexit a major cause of UK’s return to austerity, says senior economist

Former Bank of England policymaker Michael Saunders says leaving EU has ‘permanently damaged’ economy

The Guardian - UK

Mortgages set to rise with fears interest rates could top 2% to keep inflation under control

The warning comes from Michael Saunders a member of the Bank’s rate-setting Monetary Policy Committee, who claimed aggressive action was needed now

Chronicle Live

Brits warned interest rates could top 2% next year to keep inflation under control

Michael Saunders, a member of the Bank’s rate-setting Monetary Policy Committee, claimed it was better to take aggressive action now than do too little, too late

Daily Mirror

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Liverpool Echo

Nationwide increases interest rate to 5% on savings account

People who choose to switch to Nationwide’s FlexDirect will also benefit from a switching incentive

The Guardian - UK

UK interest rates could top 2% in next year, says Bank of England’s Saunders

Monetary policy committee member says Bank must act to prevent high inflation becoming embedded

Evening Standard

Homeowners warned interest rates could soar over 2 per cent

Millions of homeowners have been put on notice of a higher than expected rise in interest rates over the next year as one of the Bank of England’s rate setters said they may have to be lifted to 2 per cent or higher to tame soaring inflation.

The Independent UK

Interest rates could hit 2% or higher in the next year, says Bank policymaker

Outgoing Monetary Policy Committee member Michael Saunders said increases ‘still have some way to go’ in order to get inflation under control.

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The Guardian - UK

Swati Dhingra to join Bank of England’s monetary policy committee

LSE academic and prominent Brexit critic is first Asian woman to be appointed to role, replacing Michael Saunders

The Guardian - UK

High UK inflation could last for ‘years rather than months’, warns economist

Expert sounds warning as Bank of England economist says inflation ‘uncomfortably high’ amid cost of living crisis

The Guardian - UK

Stocks, oil and bitcoin hit by recession worries – as it happened

Worries over global growth hit stocks and metals prices, and the pound falls again

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