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Added on the 20/12/2019 10:13:29 - Copyright : AFPTV - First images
The Bank of England's governor announces a cut to its main interest rate for the first time since the Covid pandemic broke out in 2020, as British inflation has retreated in recent months. Andrew Bailey called it a "finely-balanced" decision, with policymakers agreeing on a cut by five votes to four. Bailey added, "we need to be careful not to cut rates too much or too quickly". SOUNDBITE
Outgoing Conservative Finance Minister Jeremy Hunt and his family leave Downing Street in London after Britain's Labour Party swept to a landslide victory in a general election, ending 14 years of right-wing Conservative rule. Some senior ministers from the outgoing government lost, although several other big names narrowly saved their seats, including Hunt. IMAGES
The Bank of England holds its interest rate at a 16-year high, insisting it was not yet the right time to cut with inflation staying high despite a fall to just above three percent. "That's encouraging. But we are not yet at a point where we can cut bank rates," he tells a press conference. IMAGES
UK Finance Minister Jeremy Hunt poses outside 11 Downing Street with the red, leather-covered box containing his speech before leaving to present the spring budget to parliament. Britain's Conservative government is expected to use the budget update to unveil tax cuts for millions of workers, in an attempt to woo voters before a general election. Prime Minister Rishi Sunak's party, which has been in power since 2010, is well behind the main opposition Labour party in opinion polls and looks likely to be dumped out of office. IMAGES
Britain's economy will rebound this year and not shrink as initially thought, but will grow far less than expected next year, finance minister Jeremy Hunt says as he presents his Autumn Statement to parliament. Gross domestic product will expand 0.6 percent in 2023, Hunt said citing the Office for Budget Responsibility fiscal watchdog, upgrading its prior forecast of minus 0.2 percent. GDP is then set to grow by 0.7 percent in 2024, which was sharply down from previous guidance for a 1.8-percent expansion. SOUNDBITE
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