Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Fewer UK companies plan to increase prices, survey shows

Fewer UK companies plan to increase prices, survey shows

Fewer UK companies plan to increase prices, survey shows

LONDON (Reuters) – Fewer British firms plan to raise their prices in the coming months, according to a survey that will give reassurance to the Bank of England as it considers the possibility of cutting interest rates as soon as next month.

In a latest sign of the improving economic picture inherited by new Prime Minister Keir Starmer, the British Chambers of Commerce said 39% of member companies it surveyed expected to raise prices over the next three months, down from 46% in its previous survey published in April.

“Concern about inflation among businesses has dropped to levels last seen in 2021,” David Bharier, head of research at the BCC, said. “A Bank Rate cut later this year will help bring down borrowing costs.”

The chance of the BoE cutting its benchmark Bank Rate to 5.0% from 5.25% on Aug. 1 is seen as more than 50-50 by investors after headline inflation recently fell to the central bank’s 2% target and measures of inflation pressure also eased.

The BCC survey showed sales and cashflow improved in the second quarter of 2024 to pre-pandemic levels and the share of firms expecting an increase in turnover in the next 12 months rose to 58% from 56% in the April survey.

However, 75% of respondent firms were still not increasing investment, albeit with wide variations between sectors – 42% of transport and logistics firms said they had increased investment levels compared with only 19% of retail companies.

Starmer has said he hopes the prospect of political stability after 14 often turbulent years under the Conservatives will encourage companies to invest more.

The BCC survey was based on responses from 4,967 companies – 91% of them with under 250 employees – polled between May 13 and June 10.


(Writing by William Schomberg; editing by Suban Abdulla and Elaine Hardcastle)


Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post