microsoft office home and business 2019 2pc

Liz Truss has called for a review into the Bank’s mandate while Rishi Sunak has warned that his Tory leadership rival’s tax cuts risk making inflation worse and lifting rates even higher. The Bank is weighing up a 0.5 percentage point increase ahead of its meeting next week in what would be the biggest rise in interest rates in almost three decades. The Fed’s actions will turn up the heat on the Bank of England as it faces mounting pressure from Conservative MPs to get to grips with inflation as elections begin for the party’s next leader.

The Fed’s chairman Jerome Powell signalled that further US increases are on the way, although they will now begin to slow after dramatic action taken to cool demand in recent months.

It is the first time US rate-setters have decided on such drastic rises in back-to-back meetings since the 1980s, in a move that could force the hand of other central banks as they fall behind. Its key interest rate was increased to its joint highest level since the financial crisis even as recession fears mount. The US central bank kept up the breakneck pace of interest rate increases and vowed to lift borrowing costs even further despite warning of a deepening slowdown in the world’s largest economy. The Federal Reserve has raised interest rates by 0.75 percentage points for a second straight month in the most aggressive tightening since the 1980s, piling pressure on the Bank of England to stamp down harder on surging prices.

Microsoft office home and business 2019 2pc