Philip Aldrick

London

Senior Editor at Bloomberg News

Senior economics reporter, Bloomberg @economics @bloomberguk

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Articles

UK Taxpayers to Make Money on BOE Lending to Banks, Reeves Says

1 day ago | bloomberg.com | Philip Aldrick

Workers pass Bank London Underground station in the City of London. (Bloomberg) -- The Bank of England is expected to make a profit on the cash it provides high street lenders, a small consolation for UK taxpayers as losses on its flagship quantitative-easing program continue to mount.
BOE’s Taylor Warns of ‘Perilous’ Trade Threat After Urging Big Rate Cut

2 days ago | bloomberg.com | Tom Rees |Philip Aldrick |Irina Anghel

A container ship at the Port of Felixstowe Ltd. in Felixstowe, UK. (Bloomberg) -- Bank of England policymaker Alan Taylor said interest rates are still a “long way” from moving out of restrictive levels, warning of the “perilous” threat from Donald Trump’s trade war. Taylor said Monday he is “a bit activist” and that he is “putting quite a lot of weight” on recent news after backing a bumper half-point rate cut last week.
BOE's Lombardelli Voted to Cut Rates as 'Insurance' Against Trade Wars

2 days ago | financialpost.com | Philip Aldrick |Tom Rees |Irina Anghel

Advertisement 1Bank of England Deputy Governor Clare Lombardelli said growth in UK wages and services prices is still too high to be consistent with bringing inflation back to the 2% target but she voted to cut interest rates last week to provide “insurance” against the risk of an economic slowdown caused by global trade wars.
BOE’s Lombardelli Voted to Cut Rates as ‘Insurance’ Against Trade Wars

2 days ago | bloomberg.com | Philip Aldrick |Tom Rees |Irina Anghel

Clare Lombardelli(Bloomberg) -- Bank of England Deputy Governor Clare Lombardelli said growth in UK wages and services prices is still too high to be consistent with bringing inflation back to the 2% target but she voted to cut interest rates last week to provide “insurance” against the risk of an economic slowdown caused by global trade wars.
UK Stats Chief Steps Down Amid Mistrust in Key Economic Data

5 days ago | bloomberg.com | Tom Rees |Philip Aldrick

Ian Diamond(Bloomberg) -- The leader of Britain’s national statistics agency has stepped down amid a crisis of confidence in the country’s official economic data. Ian Diamond will leave the role as head of the Office for National Statistics after criticism from senior politicians and Bank of England officials over its handling of a plunge in responses to key surveys following the Covid pandemic. Bloomberg first reported the departure of Diamond earlier Friday.
Bailey Defends Bank of England Splits in Era of Trump Volatility

5 days ago | bloomberg.com | Tom Rees |Irina Anghel |Philip Aldrick

WASHINGTON, DC - APRIL 23: Bank Of England Governor Andrew Bailey speaks with Institute of International Finance President and CEO Timothy Adams during the Institute of International Finance Global Outlook Forum at the Willard InterContinental Washington on April 23, 2025 in Washington, DC. The forum is being held alongside the 2025 spring meetings of the World Bank Group (WBG) and International Monetary Fund (IMF).
UK Homeowners Can Thank Trump for Nudging BOE Toward a Rate Cut

6 days ago | bloomberg.com | Philip Aldrick

(Bloomberg) -- US President Donald Trump’s trade policy is upending long-held alliances, threatening global growth and causing mayhem for business. For UK homeowners, though, it is working out quite well. In the last few weeks, several major high street lenders have cut mortgage deals below 4% for the first time in months.
Bank of England Sticks to Cautious Path Despite Trade Turmoil

6 days ago | news.bloombergtax.com | Philip Aldrick |Tom Rees

The Bank of England cut interest rates by a quarter percentage point in a divided decision that surprised markets and suggested that the growth risks posed by US President Donald Trump’s global trade war haven’t derailed its plan to ease policy only cautiously. Five members of the BOE’s Monetary Policy Committee voted for the move, while two wanted a larger half-point reduction and another two voted to hold rates steady.
Bank of England sticks to cautious path despite trade turmoil

6 days ago | seattletimes.com | Philip Aldrick |Tom Rees

(Bloomberg) — The Bank of England cut interest rates by a quarter percentage point in a divided decision that surprised markets and suggested that the growth risks posed by US President Donald Trump’s global trade war haven’t derailed its plan to ease policy only cautiously. Five members of the BOE’s Monetary Policy Committee voted for the move, while two wanted a larger half-point reduction and another two voted to hold rates steady.
BOE Cuts Rates to 4.25% in Split Vote as Tariffs Hit Growth

6 days ago | financialpost.com | Philip Aldrick |Tom Rees

Skip to ContentAdvertisement 1The Bank of England cut interest rates by a quarter point to 4.25% as Donald Trump’s global trade war weighs on UK growth, in a decision that split senior officials into three groups and was made before the US president hinted at an imminent deal to lower tariffs on British exports.