Articles
Eurozone raises interest rates for the first time in 11 years
In a bid to control rising inflation, the European Central Bank (ECB) has increased its interest rate for the first time in just over a decade. This move follows other central banks in hiking their base interest rate to tackle inflation, including the Bank of England and the US Federal Reserve. But does the ECB’s rate increase put highly indebted countries at risk?
Did the Queen save us from a recession?
How these celebratory events unfolded probably prevented the UK from entering into a recession later this year. But how?
UK risk of recession as firms buckle under soaring costs
UK firms are seeing operating expenses rise at the fastest pace since records began in 1998, with services firms particularly feeling the pain. Meanwhile, export orders and expectations for future growth have both dropped to the lowest since May 2020.
Government bans ground rent charges on new residential leases
The UK Government has banned landlords from charging ground rent to residential leaseholders on any new lease. This change will come into effect from the 30th June 2002 and is part of wider government aims and a reform package to make buying a home fairer, cheaper and more secure.
Energy price cap could change every 3 months
Ofgem has announced plans to review and possibly change the energy price cap every three months from October 2022. Simultaneously, the regulator has announced harsher market stabilisation charges, which are levied at energy firms when they take another supplier’s customer.
