FTSE 100 Live: UK inflation latest, eyes on Donald Trump’s state visit
Inflation hit 3.8 per cent in the year to August, according to official data, sending a warning to Bank of England officials ahead of a crucial interest rate vote on Thursday.
The previous reading for inflation in July was 3.8 per cent, with the August figure likely to confirm Bank of England rate-setters will vote to hold interest rates at its next decision on Thursday.
Donald Trump’s state visit to the UK is in full swing today – and the president has brought with him a host of top tech bosses including OpenAI’s Sam Altman and Nvidia’s Jensen Huang, both of whom have pledged significant investment into Britain.
But there’s also plenty of investment heading in the opposite direction by British firms, most notably GSK, whose planned $30bn investment into the US, while no doubt music to the ears of Trump, will also raise concerns back in Blighty that the pharma industry is pulling investment out of the UK.
Here’s a summary of our top stories from yesterday:
- Fund managers dumping UK stocks at fastest rate in two decades
- OBR ‘downgrades productivity’ in major pre-Budget blow to Rachel Reeves
- Firms continue to shed workers as jobs market deteriorates
- State pension to rise by £560 in extra costs to Treasury
- City AM Shadow MPC votes 8-1 to HOLD interest rates
This morning we’ll bring you the latest markets news as we get it.
