Philip Aldrick

Chancellor of the Exchequer Jeremy Hunt indicated that reforms to the UK state pension and welfare benefits are being considered as the government scrambles to fund increases in defense spending and boost economic growth.

Labour’s chancellor-in-waiting Rachel Reeves pledged a fundamental “course correction” for the UK’s economy, saying the country needed to invest in growth and solving underlying structural problems to break the grip of stagnation.

Bank of England policy maker Catherine Mann said financial markets are pricing in too many interest rate cuts this year and that it’s unlikely the UK will move before the US Federal Reserve.

Ben Bernanke put the US Federal Reserve on the cutting edge of economics 12 years ago by collecting policymakers’ forecasts, including their outlook for interest rates, into groups of “dot plots.”

Britain’s environment secretary rejected a direct appeal for help from the owners of Thames Water, underscoring the government’s efforts to stay out of the financial crisis rocking the UK’s largest water company.

Bank of England policy maker Megan Greene said developed economies including the UK face a “bumpy ride” as central banks squeeze out the final effects of the global inflation shock, and interest rates may have to stay higher than some expect.

(Bloomberg) -- Bank of England Governor Andrew Bailey expects a sharp drop in Britain's inflation rate next month, taking the level much closer to the 2% target.

Chancellor Jeremy Hunt said consumers in the UK shouldn’t foot the bill for mistakes made by the management of struggling utility Thames Water.

Bank of England policymaker Megan Greene said the UK faces difficult trade-offs over whether to cut interest rates because underlying inflation remains high and growth is weak.

Bank of England policymaker Catherine Mann said the fragmenting global economy will leave countries more exposed to inflation shocks in future, posing a test for central banks.