Good morning and welcome to Monday’s Money Minute, where we look ahead to this week’s biggest financial stories.
On Tuesday, we get initial estimates for GDP growth for both the UK and the eurozone during the final three months of last year. The figures are expected to reveal that growth was lacklustre towards the end of 2019. The hope is that activity has picked up since then, although the impact of the coronavirus is yet to be felt.
Over in the US on Thursday, we get the latest inflation data. Prices are expected to have risen at an annual rate of 2.3% in January. That’s around about the inflation level targeted by the US central bank, the Federal Reserve.
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However, the Fed has made it clear that it has no plans to raise interest rates and that it will tolerate, or even welcome, a period of above-target inflation.
So whatever the reported figure turns out to be, it’s unlikely to change interest rate expectations – unless of course, it’s much weaker than expected.
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One million pensioners are now higher rate taxpayers and it's not just income tax to worry aboutRising state pension payments have pushed more people into higher tax brackets but this could also affect other areas of your finances
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HMRC slaps pensioners with record high surprise tax bills - do you owe the taxman money?More than a million people face surprise tax bills by HMRC, including thousands of pensioners, as triple lock pushes more retirees into taxable income brackets
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Trapped in a time of zombie governmentIt’s not just companies that are eking out an existence, says Max King. The state is in the twilight zone too.
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America is in deep denial over debtThe downgrade in America’s credit rating was much criticised by the US government, says Alex Rankine. But was it a long time coming?
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Bank of England raises interest rates to 5.25%The Bank has hiked rates from 5% to 5.25%, marking the 14th increase in a row. We explain what it means for savers and homeowners - and whether more rate rises are on the horizon
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UK inflation remains at 8.7% ‒ what it means for your moneyInflation was unmoved at 8.7% in the 12 months to May. What does this ‘sticky’ rate of inflation mean for your money?
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VICE bankruptcy: how did it happen?Was the VICE bankruptcy inevitable? We look into how the once multibillion-dollar came crashing down.
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Would a food price cap actually work?Analysis The government is discussing plans to cap the prices of essentials. But could this intervention do more harm than good?
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UK inflation slides to 8.7% - what does it mean for your money?News Inflation has dropped below 10% for the first time in months, but with food prices at a 45-year high, is this good news and what does it mean for your money?
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Why the UK equity market is shrinkingAnalysis The crisis has been building for 25 years, says Max King, and it will take decades to reverse the trend.
