Good morning and welcome to Monday’s Money Minute, where we look ahead to this week’s biggest financial stories.
In the UK on Tuesday we get the latest figures on unemployment, while on Wednesday we get the latest data on consumer price inflation. In common with most of the rest of the world, unemployment in the UK is low right now. The key figure to watch is wage inflation. As long as wages are rising more quickly than prices, consumption should hold up, which is good news for the broader economy.
Speaking of consumption, on Thursday we get the latest UK retail sales figures for January. These are likely to indicate more misery for the high street.
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Meanwhile, in the eurozone on Tuesday, we get the latest data on German business confidence. Hopes for a pick-up in German industrial activity have been dampened recently by weak data and the coronavirus outbreak, so this figure will be watched closely.
And on Friday, we get inflation data for the eurozone as a whole. This is set to remain well below the European Central Bank’s target of just under 2%.
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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 wage growth hits a record highStubborn 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 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.
