BoE’s Tenreyro warns rate rise could be ‘self-defeating’; US jobless claims fall – as it happened
Rolling coverage of the latest economic and financial news
- Latest: US jobless claims finally fall below 300,000
- Bank’s Tenreyro: rate hike could be self-defeating
- Sunak plays down help for businesses over gas price surge
- Jim Ratcliffe: Industry ‘could shut down’ this winter as gas prices soar
- IEA: Energy surge could threaten recovery
- China factory gate inflation hits 26-year high
The Labour party have criticised Rishi Sunak for not offering help to Britain’s energy intensive industries:
Bridget Phillipson MP, Labour’s Shadow Chief Secretary to the Treasury, says the government should protect jobs at risk from the surge in gas prices:
“Our brilliant British industries are a crucial cornerstone of our economy, and we should be supporting them to boost our recovery.
“The Conservatives should be protecting and supporting them through a crisis which has come about from a severe lack of government planning.
