Latest news with #GeorgeBuckley
Yahoo
19 hours ago
- Business
- Yahoo
Bank of England expected to hold interest rates as oil prices rise and UK growth falters
The Bank of England (BoE) is widely expected to keep interest rates on hold at 4.25% this week, as policymakers weigh rising geopolitical risks, persistent inflation, and conflicting domestic economic data. The Monetary Policy Committee (MPC) will announce its decision on Thursday, and markets are betting that it will maintain its 'gradual and careful' approach to easing policy. Since August 2024, the BoE has reduced rates four times amid stubborn inflation and resilient wage growth. However, divisions have emerged within the committee. May's meeting revealed a more fractured consensus, dampening expectations of a faster pace of rate cuts. A subsequent batch of weaker domestic data has since revived speculation that the MPC may slow down its pace in lowering borrowing costs. 'This month's Bank of England policy meeting should be as straightforward a decision [to leave rates unchanged] as they come,' said George Buckley, economist at Nomura. 'We continue to look for 3.5% terminal rates by February next year — i.e., three 25bp cuts at Monetary Policy Report meetings. We think that the settling point would be at the upper end of the neutral range. This is a modestly quicker cutting cycle than the market sees.' Read more: Are UK investment assets becoming more attractive? Have your say The central bank faces a complex global and domestic backdrop. Rising oil prices (BZ=F) following Israeli airstrikes on Iran have reignited fears of broader conflict in the Middle East, compounding volatility already driven by US president Donald Trump's shifting trade policy. Meanwhile, sterling (GBPUSD=X), has strengthened sharply against the dollar, further complicating the inflation outlook. Domestically, the picture remains uncertain. The UK economy contracted by 0.3% in April, reversing earlier growth. Wage growth slowed markedly in the three months to April, and the unemployment rate ticked higher, raising questions about the underlying strength of the labour market. Inflation, however, remains a central concern. Consumer price inflation was originally thought to have risen to 3.5% in April, its highest in over a year, up from 2.6% in March. The Office for National Statistics later revised the figure slightly downward to 3.4%, after it discovered it had been given incorrect road tax data by the Department for Transport. 'Monetary policy seems to be in a good position, allowing the Bank of England to wait and see how economic conditions and the international political backdrop evolve,' said Ellie Henderson, economist at Investec. 'Ultimately, this is a highly uncertain time that requires a potentially nimble response from central banks, limiting any great foresight.' The next data, for May, will be released on 18 June, the day the Bank begins its two-day meeting. Sarah Coles, personal finance columnist at Yahoo Finance UK and head of personal finance at Hargreaves Lansdown, said: 'If inflation figures don't hold any surprises, interest rates are held, and expectations stick for two more cuts this year, we could well see rates fall again.' Paul Dales, chief UK Economist at Capital Economics, said that April's GDP contraction 'won't prompt the Bank of England to cut interest rates next Thursday. But it is one more piece of news pointing to another cut in August'. Sanjay Raja, chief UK economist at Deutsche Bank, shared a similar view: 'We expect the Monetary Policy Committee (MPC) to keep Bank Rate unchanged at 4.25% on 19 June. But increased concerns around the labour market are likely, in our view. Global risks in May are likely to give way to domestic risks in June. And we expect the MPC to open the door to an August rate cut.' Read more: What to watch this week: Inflation, Bank of England interest rates, Accenture, Berkeley and Whitbread He added: 'We stick to our call for three quarter-point rate cuts this year (Aug, Nov, Dec) and one final rate cut in February, taking the Bank Rate to 3.25%.' Others are also anticipating a summer move. Enrique Diaz-Alvarez, chief economist at Ebury, said: 'Against this backdrop, the Bank of England is expected to hold rates steady this week, but absent a strong inflation report, the MPC may well signal that the next cut could come in the summer. This may come in the form of a tweak to the bank's hawkish bias or the voting pattern, with the possibility that two or three officials vote for an immediate cut on Thursday. ING analysts also flagged August as the likely next move. 'Barring big surprises in the data over the next month, we think the latest disappointing jobs numbers help cement an August rate cut. Bear in mind that at 4.25%, Bank Rate is still very much in restrictive territory, which offers the Bank plenty of scope to keep lowering it. We expect a further cut in November and two more moves in 2026, taking the terminal rate to 3.25%.' However, not all market participants are convinced Threadneedle Street will act soon. Read more: UK economy shrinks by 0.3% in April 'While the broader trajectory for rates remains downward, the path ahead now looks shallower than previously anticipated,' said Steve Matthews, investment director for liquidity at Canada Life Asset Management. 'Market pricing suggests the next move is unlikely before September, and possibly later. Added to this, uncertainty around US tariffs and trade policy is creating a more cautious global backdrop—no one wants to make a move prematurely.' Across the Atlantic, all eyes turn to the US Federal Reserve, which is widely expected to leave interest rates unchanged at its meeting next week. Investors will be closely watching updated economic projections, seeking clues on how heavily policymakers are factoring in recent signs of economic softness and the degree of concern around ongoing trade uncertainty, unresolved fiscal negotiations, and the growing risk of conflict in the Middle East. The Bank of England is set to announce its latest interest rate decision at midday on Thursday 19 June. Read more: Average UK house asking price drops by more than £1,000 Why you can trust an 18-year old with their junior ISA – and how to create one BT CEO hails the UK as 'phenomenal' for tech unicornsError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Telegraph
a day ago
- Business
- Daily Telegraph
Entire Scottish island listed for fraction of luxury Aus home
A rugged island off the west coast of Scotland is up for grabs for the first time in 80 years, offering motivated property hunters a chance to live the life of a King for just a fraction more than the average home in Sydney's Bellevue Hill. Shuna Island, with its breathtaking landscapes and rich history, is on the market for 11.4 million (£5.5 million) and includes a castle, eight houses, artefacts dating back 9000 years, a sheep farm, and over 1000 acres of untamed Scottish coastline. A Stone Age burial mound and ancient sacrificial swords provide a window into the island's distant past and could provide the cornerstone for the island's next owner to start their own clan. Property records show the sale could proof a golden opportunity for Aussie investors who are consistently paying premium for luxury properties on home soil. Only earlier this month, a stunning two-level penthouse at Barangaroo, NSW, sold for $80m, while an entry level home at Bellevue Hill sets buyers back at least $9m. An isle steeped in history In the early 20th century, the island was purchased by George Buckley, a New Zealand-born Antarctic explorer, who used his family's fortune from the Australian gold rush to acquire this unique piece of land. Buckley commissioned the construction of a grand castle, which would cost up to $63 million in today's money. Tragically, the architect behind this masterpiece perished on the Titanic, taking plans for further castles with him. Currently owned by Jim Gully, whose grandmother acquired the island after World War II, Shuna Island has been a cherished family retreat. 'It was such an idyllic place to grow up and have adventures,' Gully told Bloomberg. 'As we grew up, we got involved in the farming and the holiday cottages and that side of things too.' He now hopes a new owner will breathe fresh life into this enchanting isle. Despite its remote feel, Shuna Island is conveniently located just a ten-minute boat ride from the mainland, where a quaint lochside village offers essential supplies. For those who prefer a more dramatic entrance, several helicopter landing sites are available. The island's eight residential properties range from charming stone cottages to sleek modern timber cabins. While the castle is currently uninhabitable, the potential for restoration is immense. The island is also home to healthy populations of red and fallow deer, otters, and seals, with porpoises and dolphins frequently sighted offshore. The property is listed with Knight Frank and Sotheby's London. There are no restrictions on foreign property ownership in Scotland.
Yahoo
16-05-2025
- Yahoo
Lucedale shooting victim's family reaches goal to cover funeral expenses
UPDATE: News 5 has learned that the family of George Buckley has reached their fundraising goal to cover final expenses for the Lucedale man. PREVIOUS REPORTING GEORGE COUNTY, Miss. (WKRG) — The family of a Lucedale man killed during a May 2 shooting is closer to its $7,000 goal to cover funeral expenses, has learned. 1 woman continuously leaves sick litters of kittens at A Hope animal welfare in Milton George Buckley, 38, of Lucedale, was , News 5 previously reported. Dante Anderson, 20, of Lucedale, was arrested and charged with manslaughter. Buckley's cousin, Lottie Buckley, started a GoFundMe on May 3, noting that the family had no life insurance and limited funds. George had four children, and the family is trying to raise money to pay for his funeral. 'We welcome all prayers and any other contributions,' Lottie said on the GoFundMe page. Over $5,000 has been raised from 46 donations, as of this story's publication, according to the page. 3 arrested, accused of running pill mill at Pace Pharmacy: FDLE To contribute or leave words of encouragement to the family, visit the page. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Hindustan Times
01-05-2025
- Business
- Hindustan Times
‘He ruined it': Indian barber asks UK vlogger for ₹1,800 for haircut, divides internet
British travel vlogger and content creator George Buckley recently shared an Instagram reel detailing how he was overcharged at a barber shop during his trip to India, an incident that has sparked widespread discussion online. In his video, Buckley claims he was initially quoted ₹1,800 for a basic haircut and head massage. As he hesitated, the price quickly dropped to ₹1,500, then ₹1,200. Sensing something was off, Buckley turned to other customers in the shop and asked, 'How much do you guys pay?' but received no response. When he pressed further, the barber admitted that the usual charge for the service is ₹700- ₹800. Also read: Man says he has post-partum depression after quitting ₹2.3 lakh job to take care of baby Despite the back-and-forth, Buckley ended up paying ₹1,200. He left the shop without tipping and later took to Instagram to share his experience. In the caption, he wrote, 'I was going to tip but he ruined it 🇮🇳.' He added, 'After a fair bit of experience travelling Asia, you can tell when you're getting overcharged and this was definitely one of those moments! I was planning on giving him a tip but honesty comes first. Hopefully he doesn't try the same trick on another traveller. A slightly sour end to the haircut, but an interesting experience nonetheless!' A post shared by George Buckley (@georgebxckley) The post quickly gained traction, drawing mixed reactions in the comments section. One user defended the barber, writing, 'Devil's advocate here — why not pay the man who can barely afford to live his ₹1,800? It's like £15-20, which is what you'd pay in the UK. Why haggle him down over £5? It makes zero difference to you and a huge difference to his life. I'd have tipped him an extra ₹1,800 instead of haggling over pennies.' Another viewer disagreed, saying, 'Yes, you were overcharged for a basic head massage and a haircut. It should probably be somewhere around ₹300-400.' Also read: Bengaluru founder accused of lying about ₹4.2 lakh salary says it's 'common in tech' Another wrote, 'Hey! They probably overcharged because you're a foreigner, which unfortunately happens in some local spots. But that's not how most of India is. Please don't judge the whole country by one experience. Next time, try visiting good, high-end shops where prices are fair and service is reliable. India has a lot of honest and welcoming people—I hope you get to see the real side of it.'
