Thursday evening news briefing: Hunt urges Bailey not to cut interest rates too quickly
Good evening. Jeremy Hunt has urged the Bank of England not to cut interest rates too quickly after Governor Andrew Bailey opened the door to a steep fall in borrowing costs.
Elsewhere, in the US, Donald Trump’s “hush money” trial resumed in New York today – follow live updates here.
Plus: Hannah Furness reveals what she learnt from Britain’s hardest working Royal.
Hunt urges Bailey not to cut interest rates too quickly
The Chancellor said it was important that policymakers did not go too fast, in order to avoid a mistake that could force them to put rates back up again. Mr Hunt said he “would much rather that they waited until they’re absolutely sure inflation is on a downward trajectory”.
Inflation ‘may already be at 2pc target’
Meanwhile, the Bank of England is edging closer to a summer interest rate cut after Andrew Bailey declared he was “optimistic” that the era of higher inflation is at an end. The Governor said recent falls in inflation had been “encouraging” and the Bank believes it may already be at its 2pc target.
Interest rates | Banks a ‘law unto themselves’ as mortgages rise and savings rates drop
Elphicke apologises for comments about husband’s sex assault victims
Following criticism from her new party colleagues, Labour MP Natalie Elphicke has apologised for comments she made supporting her ex-husband after he was convicted of sexual assault. Although she ended the marriage after his conviction, Ms Elphicke supported his unsuccessful appeal.
Tom Harris | Has Starmer really just shot himself in the foot?
Evening Briefing: Today’s essential headlines
Politics | Lord Houchen, the Conservative mayor, has blamed Tory “chaos” on Rishi Sunak as he urged MPs to stop “fighting with each other like rats in a sack”.
Royals | King ‘glad to be out of cage’ in first military visit since diagnosis
Travel | Rail commuters applaud fake fine threats to combat luggage on seats
Pictured: Boeing jet skids off runway in Senegal
A Boeing 737 plane with 78 passengers skidded off a runway before takeoff at Senegal’s main airport on Tuesday, injuring 11 people and bringing flights to a halt.
Comment and analysis
Jim Ratcliffe | A pragmatic rethink of Britain’s electric vehicle switch is desperately needed
Louis Court | The Navy is turning away people who are ready and willing to fight for Britain
Annabel Denham | Only by ignoring Labour’s many red flags can the party be seen as centrist
Michael Deacon | Councils scrapping apostrophes is just another sorry sign of Britain’s decline
David Axe | People don’t understand that Ukraine aid is actually spent on upgraded kit for our own forces
Feature of the day
Hannah Furness: I joined the inexhaustible Princess Anne on the road – this is what I learnt
A week in the working life of Britain’s hardest working Royal (not for the faint-hearted).
Editor’s choice
Money | ‘I doubled my pension to £745,000 after being sacked – can I retire at 60?’
WW2 | Honouring the heroes of the D-Day landings: Was your loved one among them?
Special Dispatch | Why a Cold War is breaking out over Milei’s lithium ‘gold rush’
Business news: Labour more likely to approve M&S Marble Arch overhaul, say bosses
A top Marks & Spencer director has said Labour would be more likely to support the multi-million pound revamp of its flagship Marble Arch store after it was blocked by Michael Gove.
Sport briefing: Today’s essential headlines
Sam Wallace | Harry Kane’s mask finally slips
Football | Inside Manchester United’s axis of power
Joe Root | Kookaburra ball is revolutionary for England
Champions League | Joselu the unlikely Real Madrid hero
David Wagner | A call from Delia Smith turned Norwich’s season around
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