U.K. inflation hit yet another new 40-year high in June as food and energy prices continued to soar, escalating the country’s historic cost-of-living crisis.
at the Mansion House Financial and Professional Services Dinner on Tuesday that the Monetary Policy Committee could consider a 50 basis point hike at its August policy meeting.
"That emphatically does not mean the regime has failed. Far from it. The regime was set up for times exactly like these. The regime, founded on central bank independence, is now more important than ever. The worth of any regime is tested in the difficult, not the nice, times."
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Temperature hits 40°C on the UK's hottest day on recordHeathrow Airport has provisionally recorded a temperature of 40.2°C, an event that would be extremely unlikely without climate change, and scientists warn that heatwaves will only get worse
Read more »
UK awards below-inflation pay rises for police and health workersBritain announced below-inflation pay rises for police officers and National Health Service (NHS) staff on Tuesday, as part of an annual pay review for public sector workers that comes amid soaring prices and industrial unrest.
Read more »
UK breaks record for highest temperature as heat wave hits EuropeBritain has shattered its record for the highest temperature ever recorded, with a provisional reading of 40.3 degrees Celsius (104.5 degrees Fahrenheit) in eastern England.
Read more »
UK shatters its record for highest temperature ever registered as heat wave hits EuropeBritain has shattered its record for the highest temperature ever recorded, with a provisional reading of 39.1 degrees Celsius (102.4 degrees Fahrenheit). FOX13
Read more »
UK hits hottest temperature on record as western Europe sizzlesUK records its highest ever temperature of 40.2 degrees Celsius as a fierce heatwave leaves much of western Europe sweltering, fuelling ferocious wildfires and stretching emergency services
Read more »