Economics

The Office for National Statistics this morning revealed UK CPI inflation turned negative for the first time on record, but key industry figures suggest this deflationary spell will be temporary.

UK CPI inflation has turned negative for the first time on record, as the recent slump in the oil price continues to put deflationary pressures on the UK economy.

PIMCO's CIO Mihir Worah has labelled shorting UK RPI 'the carry trade of the decade', as he sees inflation in the UK remaining below current expectations.

Britain's foreign secretary Philip Hammond has echoed Bank of England Governor Mark Carney's calls for a 'fast' referendum on Britain's place in the EU.

Inflation: The elephant in the room

Economist and creator of the term 'BRICs' Jim O'Neill is to become a Treasury minister in the new government.

Neptune has promoted James Dowey to the role of chief investment officer.

Sterling has fallen after the Bank of England downgraded its growth forecasts for the UK economy while indicating it could start to raise interest rates in mid-2016.

Morgan Stanley has warned of an approaching 'triple taper tantrum next year if the US, Japan and Europe all taper their monetary policies at the same time.

Ros Altmann has been named as the next pensions minister, replacing Steve Webb.