Good morning and welcome to Monday’s Money Minute, where we look ahead to this week’s biggest financial stories.
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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How much you need to follow the 25x retirement rule – will you have enough to be financially independent?We explain what the 25x retirement rule is and the amount you would need to be financially independent in retirement.
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UK wages grow at a record paceThe 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 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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UK economy avoids stagnation with surprise growthGross 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 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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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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Is my pay keeping up with inflation?Analysis High inflation means take home pay is being eroded in real terms. An online calculator reveals the pay rise you need to match the rising cost of living - and how much worse off you are without it.
