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UK Budget Expected to Reduce Inflation by Up to 0.5%, Bank of England Confirms The Bank of England has indicated that the latest UK Budget could cut inflation by between 0.4% and 0.5% next year, according to Ms. Lombardelli, the Bank’s deputy governor for monetary policy. UK inflation currently stands at 3.5%, with forecasts from the Office for Budget Responsibility (OBR) projecting it will fall to 2.5% next year before returning to the Bank’s 2% target by 2027. Ms. Lombardelli explained that the anticipated reduction is primarily a mechanical effect of changes in energy prices, fuel duty, and measures affecting electric vehicles and rail fares. “That will just shift inflation. That is by far the biggest impact for us,” she said. Chancellor Reeves’ Budget included a 5p cut in fuel duty extended until September next year, removal of green levies from energy bills and general taxation, and the freezing of rail fares until March 2027—the first freeze in decades. These measures are projected to save households around £88 per year, with an additional £59 saved from scrapping a customer-funded home insulation scheme. However, the Budget also introduces a new road tax for electric and some hybrid vehicles starting in April 2028. Electric car drivers will pay 3p per mile and plug-in hybrids 1.5p per mile, with charges rising annually with inflation. On economic growth, Ms. Lombardelli said the Budget’s impact is “quite small,” but noted a short-term boost of 0.2% to GDP in 2027. Conservative leader Kemi Badenoch criticized the Budget, claiming it has pushed up inflation due to tax and spending decisions. #Binance #Inflation #Write2Earn #UpdateAlert #cryptofirst21

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Hassett Says He Would Remain “Apolitical” if Appointed Federal Reserve Chair National Economic Council director Kevin Hassett stated that he would remain strictly “apolitical” in his decision-making if selected as the next chair of the Federal Reserve Board. Speaking in public remarks, Hassett emphasized that the Fed’s credibility depends on its independence, stressing that monetary policy must be guided by data, not politics. Hassett highlighted that maintaining the central bank’s neutrality is essential for managing inflation, stabilizing financial markets, and ensuring global confidence in U.S. economic leadership. He noted that while political pressures often intensify during periods of economic uncertainty, the Fed must stay focused on long-term stability rather than short-term political goals. His comments come as discussions around potential candidates for the next Fed chair intensify, with economic policy circles closely watching how each contender positions themselves on issues such as rate cuts, inflation control, and balance sheet strategy. Hassett’s commitment to an apolitical stance is expected to be a key factor in how markets interpret his candidacy. #FederalReserve #interestrates #Write2Earn #breakingnews #cryptofirst21

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Europe Warns Ukraine Is at a ‘Critical Moment’ as Allies Intensify Pressure on Russia European leaders are raising fresh alarms that the war in Ukraine has entered a “critical moment,” as Kyiv faces mounting battlefield pressure and dwindling ammunition supplies while diplomatic efforts intensify across the region. Officials within the European Union say the next several months will be decisive in determining Ukraine’s defensive capacity and the broader trajectory of the conflict. In response, Europe is accelerating military, financial, and political pressure on Russia, rolling out stricter sanctions packages and expanding arms support to counter recent advances by Russian forces. Several EU nations have also urged faster weapons deliveries, warning that delays could leave Ukraine vulnerable during a critical phase of the war. European diplomats emphasized that ensuring Ukraine’s resilience is essential not only for regional security but also for preventing wider geopolitical instability. They cautioned that Moscow may attempt to exploit any signs of hesitation or fragmentation among Western allies. At the same time, Ukrainian officials are pressing for continued unity, arguing that robust European backing remains the key to pushing back against Russia’s intensified military campaign. As winter approaches and military operations evolve, the coming weeks are expected to shape both the battlefield realities and the political landscape surrounding the conflict. #UkraineWar #Europe #Eu #Write2Earn #cryptofirst21

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