Kevin Pratt

United Kingdom

Editor, Forbes Advisor UK at Forbes

Editor @forbesadvisoruk. Any opinions you see are purely mine

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Articles

Bank Of England Raises Prospect Of Cheaper Mortgages With Interest Rate Cut To 4.25%

6 days ago | forbes.com | Kevin Pratt

The Bank of England has trimmed its base lending rate from 4.5% to 4.25% in a bid to counteract a potential slowdown as the global economy adjusts to US President Trump’s imposition of swingeing trade tariffs, writes Kevin Pratt. The news follows today’s announcement of a trade deal between the UK and the US that will limit some of the tariffs levied between the two countries. Other deals between the US and its trading partners are expected to follow.
Inflation Down Further To 2.6% Raising Hopes For Bank Rate Cut In May

4 weeks ago | forbes.com | Kevin Pratt

Expectations of a Bank of England interest rate cut in May blossomed on the news that inflation fell to 2.6% in the year to March, writes Kevin Pratt. The annual rate at which prices are rising continued to slow from 2.8% in February and 3% in January. Analysts believe this will encourage the Bank to trim the benchmark Bank Rate from 4.5% to 4.25% at its next policy meeting on 8 May.
Microgrids reframe how we generate and consume energy

1 month ago | pv-magazine-usa.com | Kevin Pratt

As California works toward its ambitious clean energy vision, an almost counterintuitive challenge has emerged: The state is, at times, generating more solar energy than it can handle. It’s gotten to the point where loads of clean energy are going to waste. This byline will discuss how we can more efficiently utilize energy as we transition to solar so that our energy generation can be cleaner without any waste?
Energy Price Cap Jumps 6.4% To Average £1,849

1 month ago | forbes.com | Brean Horne |Kevin Pratt

Households are being urged to think about their energy usage and consider locking into a fixed-rate tariff as the new, higher energy cap of £1,849, comes into force today (1 April), writes Jo Thornhill. The price cap, which is reviewed every quarter, applies maximum rates per unit of gas and electricity and associated standing charges. It is set by the regulator, Ofgem, with reference to the price of wholesale energy and other costs across the distribution network.
Inflation Nudges Down To 2.8% As Chancellor Finalises Spring Statement

1 month ago | forbes.com | Kevin Pratt

UK prices rose by 2.8% in the year to February, down from the 3.0% increase recorded in January, writes Kevin Pratt. Today’s figures from the Office for National Statistics will be welcomed by the Chancellor, Rachel Reeves MP, as she adds the finishing touches to her Spring Statement, due later today. The high cost of borrowing is seen as one of the brakes on economic growth – a key goal of the Labour government.
Bank Rate Held At 4.5% As Threats Stalk Economy

1 month ago | forbes.com | Kevin Pratt

The Bank of England held its benchmark Bank Rate at 4.5% today amid fears that turbulence across the world economy could trigger higher inflation and hamper economic growth, writes Kevin Pratt. The Federal Reserve, the Bank’s US counterpart, yesterday held rates in the range 4.25% to 4.5%. Both central banks are nervous about the potential inflationary impact of President Trump’s aggressive use of tariffs on goods imported to the US.
Energy Bills Update - Forbes Advisor UK

2 months ago | forbes.com | Brean Horne |Kevin Pratt

Around 22 million households in England, Wales and Scotland will see their annual bills rise by a shock 6.4% when the latest price cap takes effect on 1 April, writes Kevin Pratt. The cap, set by the regulator, Ofgem, is reviewed every quarter based primarily on wholesale energy costs. It limits what firms can charge for each unit of energy used and for associated standing charges and has now risen for three consecutive quarters.
Inflation Runs Hot At 3% In Year To January

2 months ago | forbes.com | Kevin Pratt

The rate of inflation rose to 3% in the year to January, a steep uptick from the 2.5% recorded in December, writes Kevin Pratt. The Office for National Statistics attributes the increase – which is beyond analyst predictions of a 2.8% rise – to higher prices for food, non-alcoholic beverages and transport costs.
Bank Of England Delivers Boost With Widely-Expected Reduction In Bank Rate To 4.5%

Feb 6, 2025 | forbes.com | Kevin Pratt

Homebuyers and savers are digesting the news that the Bank of England is cutting its influential Bank Rate from 4.75% to 4.5%, writes Kevin Pratt. The move, which follows a fall in the rate of inflation in December from 2.6% to 2.5%, could lead to cheaper variable rate and tracker mortgages but may also see lower returns on many savings accounts. The Bank’s inflation rate target is 2%.
UK Artificial Intelligence (AI) Statistics And Trends In 2024

Feb 4, 2025 | forbes.com | Mark Hooson |Kevin Pratt

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