Interest rates, executive pay, first-time buyers and shopping habits

Interest rates are on track to be cut for a second time before Christmas despite the economy’s surprising resilience since the EU referendum, the Bank of England has indicated. The Bank’s message that stronger growth may not dissuade rate-setters from a second post-Brexit vote cut was made in the minutes to this month’s meeting, when they decided to leave policy unchanged, The Times reports. Last month the Bank announced its biggest package of measures since the launch of quantitative easing at the height of the recession seven years ago. Rates were cut by a quarter-point to 0.25 per cent, a £100 billion cheap funding scheme was extended to lenders, a £10 billion corporate bond-buying programme was launched and the QE programme was increased by £60 billion to £435 billion.

Executive pay

MPs have launched an inquiry into corporate governance, focusing on executive pay, worker representation in the boardroom and the lack of women in senior positions.