Bank of England Governor Andrew Bailey called for the world's financial powers, led by the United States and China, to avoid economic nationalism in a speech released three days before Donald Trump is due to be sworn in as U.

The disappointing retail data adds to the dim economic picture in the U.K. and to the challenges facing Finance Minister Rachel Reeves.

The Bank of England will cut interest rates four times this year to support a flat-lining economy, economists polled by Reuters said, but they added that risks to inflation are to the upside, suggesting policymakers may end up doing less.

There's good news for Chancellor Rachel Reeves in response to bad signs for economic growth - the market turbulence that piled pressure on her stewardship of the economy has reversed.

The fall in the headline rate of inflation from 2.6 percent to 2.5 percent was unexpected and positive news for the Chancellor Rachel Reeves.

Alan Taylor, the most recently appointed member of the Bank's monetary policy committee (MPC) said the UK is 'in the last half mile on inflation' and called for a pre-emptive cut

The good news is not expected to last as inflation creeps up in the coming months as the rise in employer’s national insurance contributions arrives in April, higher VAT on school fees kicks in and road taxes rise. Add to that rising oil prices that could translate into higher costs for homes, transport and related services.

Alan Taylor, a member of the Bank's monetary policy committee, said the UK is 'in the last half mile on inflation'

Honda's U.S. financing arm was ordered on Friday by the U.S. Consumer Financial Protection Bureau to pay $12.8 million for reporting inaccurate information that affected the credit reports of 300,000 drivers of Honda and Acura vehicles.

Chrystia Freeland blew up the career of her top political ally, Justin Trudeau. Now, she is taking on an old friend, the former central banker Mark Carney.