Bank of England boss 'more optimistic' of avoiding recession
Video Credit: ODN - Duration: 00:43s - Published
Bank of England boss 'more optimistic' of avoiding recession
The governor of the Bank of England has said although the UK's economy is "not off to the races", he is now "more optimistic" that Britain could avoid going into recession.
Andrew Bailey sought to reassure the public that they would not see a repeat of the 2008 financial crisis, saying: "I'm confident that the banks in this country are in a much stronger position." Report by Buseld.
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The governor of the Bank of England has said although inflation remains "higher than expected", there is still reason for optimism ahead of April figures being released next week.
Andrew Bailey told the British Chambers of Commerce annual global conference: "We do, however, have good reasons to expect inflation to fall sharply over the coming months … energy prices have fallen from their peaks, and that will now start to come through as lower inflation." Report by Buseld. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Bank of England Governor Andrew Bailey says covid and the war in Ukriane are "large global factors" impacting UK inflation rates, but "firmly believes" we will see inflation "come down markedly" this year. Report by Rowlandi. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Flight Sergeant Peter Brown died alone in London at 96 years old.
With no known relatives in the UK, a campaign sought to organise a military funeral for the WWII veteran.
And after a monumental effort, he was finally laid to rest. Report by Reeda. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Former Prime Minister Liz Truss has condemned the latest migration figures saying they are “too high” as net migration levels reach record levels. At 606,000 net, the UK has welcomed almost double the number migrants since before the UK voted to leave the EU in 2016. Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
A man has been arrested after a car crashed into the gates of Downing Street on Thursday afternoon. Report by Chinnianl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Money Saving Expert, Martin Lewis, says it’s “good news” that average household energy bills are set to fall by £426 a year from July, It comes as Ofgem announced plans to drop its price cap after tumbling wholesale prices. Households will therefore pay an estimated 17% less for the energy they use. Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Immigration Minister Robert Jenrick says net migration is “far too high” after newly published figures for 2022 showed around 606,000 more people are estimated to have moved to the UK than have left. The Office for National Statistics said factors contributing to relatively high levels of immigration over the past 18 months include people coming to the UK from non-EU countries for work, study, and for humanitarian purposes, including those arriving from Ukraine and Hong Kong. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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