MNI China Daily Summary: Friday, February 3

MNI BRIEF: Professional Forecasters Up Inflation Outlook: ECB

MNI BRIEF: China To Fully Reopen Borders With HK and Macau

MNI DATA FORECASTS: RBA, Riksbank In Focus

MNI: US ISM JAN SERVICES COMPOSITE INDEX 55.2

RBA Watch

(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

Rpt- MNI INTERVIEW: BOC Losses May Dent Inflation Fight- Tombe

MNI BRIEF: EU Sees Statement After UK-EU Talks This Afternoon

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
USDCAD TECHS

Key Support Remains Exposed

AUDUSD TECHS

Pullback Extends, But Still Looks Corrective in Nature

US TSYS

FED Remains in Play Post-NFP/ISM Data

US TSYS

Implied Vol Buoyed Post-NFP/ISM, Real Vol Delivered

US

President Biden To Conclude Infrastructure Tour In Philadelphia

US STOCKS

Late Equity Roundup: Early Support Evaporates Ahead Weekend

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

Chancellor-Benefits To Rise By Inflation; Triple Lock On Pensions Remains

UK
Homepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income NewsForeign Exchange NewsUKBank Of England (BOE) Market NewsPolitical Market News

Chancellor Jeremy Hunt on welfare/cost of living: "...This winter, we will stick with the plan to spend £55bn to help households and businesses with their energy bills"

  • Hunt: "From April, we will continue the Energy Price Guarantee for a further 12 months at a higher level of £3000 per year for the average household. With prices forecast to remain elevated through next year, this will still mean an average of £500 support for every household."
  • Hunt: "there have also been some representations to keep the uplift to working age and disability benefits below the level of inflation given the financial constraints we face. But that would not be consistent with our commitment to protect the most vulnerable so today I also commit to uprate such benefits by inflation with an increase of 10.1%. That is an expensive commitment costing £11bn."
  • Hunt: "But the cost of living crisis is harming all pensioners so because we have taken difficult decisions elsewhere in this statement, I can today announce that we will fulfil our pledge to the country to protect the pensions Triple Lock."
178 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Chancellor Jeremy Hunt on welfare/cost of living: "...This winter, we will stick with the plan to spend £55bn to help households and businesses with their energy bills"

  • Hunt: "From April, we will continue the Energy Price Guarantee for a further 12 months at a higher level of £3000 per year for the average household. With prices forecast to remain elevated through next year, this will still mean an average of £500 support for every household."
  • Hunt: "there have also been some representations to keep the uplift to working age and disability benefits below the level of inflation given the financial constraints we face. But that would not be consistent with our commitment to protect the most vulnerable so today I also commit to uprate such benefits by inflation with an increase of 10.1%. That is an expensive commitment costing £11bn."
  • Hunt: "But the cost of living crisis is harming all pensioners so because we have taken difficult decisions elsewhere in this statement, I can today announce that we will fulfil our pledge to the country to protect the pensions Triple Lock."