Rolling coverage of the latest economic and financial newsOnly seven new petrol-powered cars sold in Norway in JanuarySilver is also looking very volatile.The spot price of silver tumbled by 19% yesterday, hot on the heels of its 27% plunge on 30 January. Continue reading...

06 Feb 2026 16:06 ✍️ RSS THE GUARDIAN

A wartime boom in Russia has given way to sluggish growth, tax hikes and squeezed public services. Will it affect the conflict in Ukraine?Western leaders were bullish when they imposed sanctions on Russia after the invasion of Ukraine in 2022.“The Russian economy is on track to be cut in half,” said the then US president, Joe Biden, in March, a month into the war. Continue reading...

06 Feb 2026 06:00 ✍️ RSS THE GUARDIAN

Data from November 2025 was also revised lower amid a softening in labor market conditions at the end of the yearUS job openings dropped to the lowest level in more than five years in December and data for the prior month was revised lower amid a softening in labor market conditions at the end of 2025.Job openings, a measure of labor demand, decreased by 386,000 to 6.542m by the last day of December, the lowest level since September 2020, the labor department’s Bureau of Labor Statistics said in its Job Openings and Labor Turnover Survey, or Jolts report, on Thursday. Continue reading...

05 Feb 2026 16:48 ✍️ RSS THE GUARDIAN

Bank splits 5-4 on interest rate decision, and hints that cuts are coming, as governor pays tribute to Alistair Darling over Mandelson revelationsBank of England keeps interest rates at 3.75% as inflation concerns persistAnalysis: Why the Bank of England is holding rates despite a weakening economyThere are three things to watch out for from the Bank of England’s interest rate decision and its latest monetary policy report (MPR), reports Simon French, chief economist at City firm Panmure Liberum:What the qualitative comments from MPC [monetary policy committee] members tell us about whether the disinflation bias remains intact? It probably holds - but a good MPR will always throw up some interesting analysis;What is the latest estimate for Q2 inflation? A sharp drop from 3.0% YoY to 2.4% YoY will be largely be the result of base effects, and one off policy measures. Any sign of a growing output gap weighing on core inflation forecasts?Politics could have a big say around the 30 April MPC - coming a week out from the local elections. Does the MPC seek to manage (down) market expectations for a rate cut in Q2, or would it have one eye on the June meeting instead when politics will be clearer (and two more months of CPI data will be available).The yield gap between two- and 10-year gilts hit the widest since 2018 as a fresh round of UK political turbulence weighed on government bonds.The 10-year yield rose as much as four basis points to 4.59% at Thursday’s open, pushing the gap over the two-year to 85 basis points. Continue reading...

05 Feb 2026 16:46 ✍️ RSS THE GUARDIAN

Bank indicates anti-inflation measures in Rachel Reeves’s budget likely to pave way for rate cuts in months aheadBusiness live – latest updatesUK inflation rises for first time in five months to 3.4% in DecemberBank of England policymakers have left interest rates unchanged at 3.75%, but indicated that lower inflation as a result of cost-of-living measures in Rachel Reeves’s budget should pave the way for cuts in the months ahead.The nine-member monetary policy committee (MPC) voted to leave borrowing costs on hold, despite forecasting weaker growth and lower inflation than at its last quarterly forecast in November. Continue reading...

05 Feb 2026 15:56 ✍️ RSS THE GUARDIAN

Rising unemployment and falling inflation made a strong case for a cut but Andrew Bailey opted to wait and seeBank of England keeps interest rates on holdBusiness live – latest updatesWhen unemployment is rising and inflation falling, the Bank of England would, under normal circumstances, cut the cost of borrowing.Add to the mix a faltering economy and the public might reasonably expect a reduction in interest rates to lift their spirits. Continue reading...

05 Feb 2026 13:18 ✍️ RSS THE GUARDIAN