FirstFT: UK inflation likely to hit 5%, warns BoE chief economist

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UK inflation “can rise almost or even slightly 5% or moreThe Bank of England’s chief economist warned early next year that the central bank would make a “living” decision on whether to raise interest rates.

Huw Pill refused to disclose voting methods, saying he was “balanced” at a meeting of the BoE Monetary Policy Committee on November 4, in his first interview in this position. I think the moon is alive, “he added.

Consumer price inflation fell to 3.1% in September, but the BoE previously predicted it would exceed 4% by the end of the year.

Inflation is rising rapidly in 2021 due to the strong economic recovery from the coronavirus crisis, soaring energy prices and disruptions in the global supply chain.

Are you personally concerned about rising inflation in the UK? Why?Email me your thoughts jennifer.creery@ft.com.. Thank you for reading FirstFT Europe / Africa. This is the rest of today’s news — Jennifer

5 more stories in the news

1. EU gains support for legal action against Poland European leaders warned Warsaw that the union is ready to deploy Further legal sanctions In response to the rebellion against EU law, they opposed it as they urged the country to return the challenge to Brock’s judicial base.

2. Deutsche Bank whistleblower paid $ 200 million in bounty Awarded by the Commodity Futures Trading Commission Almost $ 200 million Marked the largest payment ever under the US whistleblower program to a former banker who expressed concern about manipulating the Libor interest rate benchmark.

3. The Federal Reserve Board bans stock trading by officials The Federal Reserve Adopted rules The Federal Reserve Bank of Boston and Dallas Fed presidents resigned in September after banning policy makers and senior staff from buying private stocks and other investments after a suspicious financial transaction last year.

4. Putin: Nord Stream 2 approval could mean 10% more gas Russia can Increase gas supply President Vladimir Putin emphasized Moscow’s conditions for resolving the continent’s energy crisis towards Europe as soon as Germany approved the new Nord Stream 2 pipeline.

Neumann’s WeWork stake worth $ 511 billion Office space group share Jumped Yesterday, the company finally made its public market debut on the New York Stock Exchange. Throughout the city, WeWork co-founder Adam Neumann celebrated the $ 1 billion plunge from the list.

Coronavirus digest

  • Booster shot BioNTech / Pfizer vaccine teeth 95.6% valid Both companies announced yesterday for Covid-19.

  • UK’s largest wealth manager, St. James’s Place, The fund under management 14% increase Since the beginning of the year, the pandemic has helped to invest in savings and increase consumer confidence.

  • Boris Johnson British Half school today The electric shock of booster jab ads eases the turmoil of deploying Covid-19 “Plan B”.

  • 1/5 or more India 1.3 billion citizens have been fully vaccinated after the country was administered on Thursday Its 1 billionth vaccine..

  • NS We confronting Lack of rapid antigen testing Prove that unvaccinated workers have been vaccinated or prior to next month’s deadline for weekly testing.

For the latest data on virus spread, please visit the following URL: Our tracker..

The day before

G7 Trade Ministers meet Ministers to deal with the deterioration of the supply chain meeting Today, hosted by British trade secretary Anne-Marie Trevelian, attended by representatives of the world’s wealthiest economies, including US trade representative Katherine Tai. (Reuters)

US and EU officials discuss Iran French, German and British diplomats meet Iran’s US Special Envoy in Paris to discuss efforts to resume compliance with the 2015 Iran Nuclear Agreement. This topic will also be covered in a meeting between Russian President Vladimir Putin and Israeli Prime Minister Naftali Bennett. visit To Sochi. (Reuters, FT)

Court hearing on the death of British Parliamentarian Sir David Amess Ali Harubi Ali, 25, will appear in court on the second day. Face charge Of murder and terrorist crime. He did not enter a plea in the indictment at a briefing hearing yesterday.

Economic data October Survey of Purchasing Managers from Europe and North America (including:) England And the United States sign Supply chain bottlenecks and energy prices are affecting factories. (FXStreet, WSJ)

What else are you reading

Trajectory of the destruction of Russian mercenaries in the Central African Republic With a volatile history, the country is the “perfect laboratory” for the Wagner Group, a Kremlin-linked corporate network that has helped President Faustin-Archanget Tuadera defeat rebels.But the fighter has been blamed Human rights violations..

Jens Weidmann’s exit brings a new era to the relationship between Germany and the ECB The extroverted head of the Deutsche Bundesbank has been lonely among European central bankers for a decade.Will Future conflict Is bond purchase and negative interest rate policy before his successor?

Awaken to new sleep rules In 1940, the dictator Francisco Franco moved Spain to the German era to show solidarity with Adolf Hitler, but no one reverted it.Still in the country Midnight Simon Kuper’s lifelong search was to escape from the pre-pandemic all-purpose work schedule.

https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F134f492f 4757 46f3 b39e 81f112cf4223

Simon Kuper: “Especially staying up late sacrifices sleep to get to work at ridiculous times.” © Harry Haysom

Cryptographic Glossary Want to speak crypto? Our guide From altcoin to harvest farming, it tells you everything you need to know.More than 100,000 people in other crypto news I had them scan their eyes In exchange for a cryptocurrency called World Coin, as projects to more widely distribute digital money to the world accelerate.

Pseudonym politics You can see the anger surrounding “Carmen Mora” in this way. A group of men impersonate a woman and first get a path to write a super-violent thriller in the name of a woman. Then they win a fat prize. that too. But we have to care??

fashion

Is there too much luggage in your cargo pants? Very malicious Multi-pocket pants It’s part of the Y2K style revival, but can you really restore the credit you lost?

In the 1990s, women's groups such as All Saints and TLC popularized combat trousers with a practical look.

In the 1990s, women’s groups such as All Saints and TLC popularized combat trousers with a practical look © Ken McKay / Shutterstock

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