Philip Aldrick

The Bank of England can cut borrowing costs five more times to 3.5% before it runs the risk of overheating the economy and reigniting inflation, according to Bloomberg Economics.

(Bloomberg) -- Britain’s economy contracted for a second straight month in October as consumers braced for a painful budget, leaving the Labour government’s pledge to boost growth in trouble only months after taking power.Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxBrace for a Nationwide Shuffle of Corporate HeadquartersCity Hall Is HiringAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamGross domestic produc

British households expect the pace of price rises to tick upwards in the next 12 months according to a Bank of England survey that underscores concerns Chancellor of the Exchequer Rachel Reeves’ big-spending budget in October may stoke inflation.

UK regular wage growth accelerated more than forecast in the three months through October as private-sector pay strengthened, underscoring the Bank of England’s caution about cutting interest rates.

UK regular wage growth accelerated more than forecast in the three months through October on the back of a sharp increase in private-sector pay, underscoring the Bank of England’s caution about cutting interest rates.

(Bloomberg) -- UK regular wage growth accelerated more than forecast in the three months through October on the back of a sharp increase in

(Bloomberg) -- UK regular wage growth accelerated more than forecast in the three months through October on the back of a sharp increase in private-sector pay, underscoring the Bank of England's caution about cutting interest rates.

The practice of de-risking defined contribution pension pots as savers close in on retirement will cost the UK as much as £25 billion ($32 billion) during the current Parliament, according to asset manager Columbia Threadneedle.

For most of the UK’s inflation shock over the past two years, Bank of England policy reacted to swings in wage and prices data. Now it’s leaning much more prominently on its own forecasts.

UK government borrowing fell in November as the Treasury benefitted from a sharp fall in debt-interest payments.