A new report reveals the strategic use of private stablecoins to defend US economic hegemony, while experts warn of hidden risks mirroring the 2008 financial crisis. In the shadow of Bitcoin’s rise as “digital gold,” a quieter but more profound financial revolution is underway. Stablecoins—digital tokens pegged to traditional currencies like the US dollar—now account…
Tag: Bank of England
Bank of England’s Bailey says AI could be next industrial revolution, warns on growth
LONDON: Bank of England Governor Andrew Bailey said that Artificial Intelligence has the potential to be the next great technological leap that transforms the economy, but warned that Britain must work with it to reverse a prolonged slowdown in productivity growth. In a speech drawing on lessons from economic history, Bailey said the nature of…
UK economy grows 0.3% in Q2, beating forecasts but showing signs of cooling
LONDON: Britain’s economy expanded by a stronger-than-expected 0.3% in the second quarter, preliminary data from the Office for National Statistics (ONS) showed on Thursday, as resilient services activity offset weakness in production and lingering trade uncertainty. Economists polled by Reuters had forecast a modest 0.1% rise in gross domestic product (GDP) for the April-June period,…
UK unemployment hits 4-year high, wage growth holds at 5.3%: Arbuthnot Latham forecasts rate cuts
LONDON: Arbuthnot Latham, the historic British bank founded in 1833, released its latest Treasury Market Commentary on June 13, 2025, highlighting critical developments in global and domestic economies. The report covers rising UK unemployment, wage growth, central bank rate expectations, and geopolitical trade dynamics. Below is a detailed breakdown of the findings. UK Economic Indicators Show Mixed…
UK labor market shows signs of weakness ahead of employer tax hike
LONDON: Britain’s labor market showed signs of weakening ahead of this month’s increase in a tax on employers, data released Tuesday showed. However, strong wage growth persisted, complicating the Bank of England’s efforts to curb inflation. Financial markets indicate a 90% chance of a quarter-point interest rate cut when policymakers meet in early May, followed by…