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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The 8% pension rule: what is it and is it enough to retire on?
You are probably saving this amount into a pension each month without even realising with the 8% pensions rule. But is what is this and is it enough to give you a comfortable retirement?
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UK wages grow at a record pace
The latest UK wages data will add pressure on the BoE to push interest rates even higher.
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Trapped in a time of zombie government
It’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 debt
The 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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UK economy avoids stagnation with surprise growth
Gross domestic product increased by 0.2% in the second quarter and by 0.5% in June
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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 wage growth hits a record high
Stubborn inflation fuels wage growth, hitting a 20-year record high. But unemployment jumps
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UK inflation remains at 8.7% ‒ what it means for your money
Inflation 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.
