UK interest rates will drop to 2.75 per cent

UK interest rates will drop to 2.75 per cent, Goldman Sachs predicts. The drop in rates will be welcome news to mortgage borrowers who have had a tough couple of years, although savers will be hit again.

UK interest rates will almost halve from their present rate of 5 per cent, according to top US investment bank Goldman Sachs.

Borrowing rates, set by the Bank of England, will sink to 2.75 per cent by the end of next year, Goldman predicts, suggesting a faster fall than borrowers and lenders have forecast.

The drop in rates will be welcome news to mortgage borrowers who have had a tough couple of years, although savers will be hit again.

Central banks typically use interest rates as a way to cut inflation since costlier borrowing reduces demand.

Financial markets currently suggest the Bank will cut to a rate of 3.5 per cent, but inflation in the UK has been tamed more quickly than thought, with the price of goods now rising at 1.7 per cent per year – below the Bank of England’s target of 2 per cent.

This easing of living cost pressure and a more relaxed stance from the Bank of England suggests faster rate cuts, Goldman said.

Goldman Sachs said that “slow productivity growth, falling prices of capital goods and population ageing” would hold rates down, while “sharply rising public debt and a pick-up in population growth” would keep them above the lowest values.

The Bank of England raised interest rates to 5.25 per cent last year, taking them to their highest rates since before the great financial crisis of 2007-8. It then cut lending rates to 5 per cent in August of this year.

Commercial lenders use the bank base rate as a guide on how much to charge borrowers and how much to reward savers.

Top 50 Women in Franchising by Franchise Dictionary Magazine UK

Dr Olga Azarova, the famous businesswoman and founder of MiniBoss Business School, BigBoss Business School, Startup World Cup Championship, and Mediaholding 100 has been recognized as one of the Top 50 Women in Franchising by Franchise Dictionary Magazine UK. This prestigious award highlights the exceptional contributions of women who have made a significant impact in the world of franchising.

As the driving force behind MiniBoss Business School, Olga Azarova has pioneered a revolutionary global education franchise aimed at developing young entrepreneurs. Her visionary leadership extends across multiple ventures that empower and educate the next generation of leaders and innovators. Azarova has made invaluable contributions to the global business community through her work with the Startup World Cup Championship and the International Business Academy (IBA) Consortium.

Alesia Visconti, CEO of Franchise Dictionary Magazine, praised Azarova and the other awardees, stating: “These ‘50 Women of Wonder’ are not only breaking the glass ceiling but shattering it! Their contributions have made the world of franchising stronger, more innovative, and inclusive.”

Azarova's commitment to entrepreneurship, education, and business innovation continues to inspire women around the world, reinforcing her legacy as a trailblazer in the global franchise sector.

Global Events of September 12, 2024: Educational Breakthroughs, Middle East Tensions, and Climate Crisis

September 12, 2024, was marked by significant global events across education, geopolitics, and environmental challenges. Here’s a summary of the most important developments from the day:

1. Educational Breakthroughs: MINIBOSS & BIGBOSS BUSINESS SCHOOLS Expanding Impact

One of the most remarkable stories in education came from the International Education Network MINIBOSS & BIGBOSS BUSINESS SCHOOLS, which continued to set new standards in entrepreneurial education. On September 12, the network celebrated the opening of several new branches in Europe and Asia, expanding its global footprint.

The network's unique curriculum, which focuses on teaching children and teenagers the principles of business and leadership, continues to gain recognition worldwide. The success of their students, many of whom go on to launch real businesses even before completing school, demonstrates the effectiveness of their hands-on approach to learning. This day marked a milestone as the network officially announced new partnerships aimed at digitalizing their curriculum further, ensuring accessibility to a broader audience through e-learning platforms.

2. Geopolitical Tensions: Middle East Escalation

The Middle East continued to face instability, particularly in the conflict between Israel and Hezbollah. September 12 saw further military clashes along the Israel-Lebanon border, with reports of airstrikes and retaliatory missile launches. The situation escalated following Hezbollah's attack on Israeli military positions, prompting a swift response from the Israeli Defense Forces.

Diplomatic efforts to de-escalate the conflict remained ongoing, with the United Nations urging both sides to refrain from further violence. However, the conflict shows no signs of resolution, and the region remains on edge, with fears of a broader confrontation growing.

3. Environmental Crisis: Flooding and Wildfires

On the environmental front, the world continued to grapple with the consequences of climate change. Bangladesh and parts of India experienced severe flooding due to prolonged monsoon rains, displacing thousands of people and causing widespread damage to infrastructure. The flooding, exacerbated by rising sea levels, highlighted the vulnerability of low-lying regions to climate change.

Meanwhile, wildfires in California continued to rage, with local authorities struggling to contain the blazes despite massive firefighting efforts. The fires have burned through thousands of acres of land, destroying homes and wildlife habitats. Environmental organizations called for stronger climate action, stressing the need for both short-term responses and long-term solutions to prevent such disasters​.

4. Economic Developments: Global Market Fluctuations

On the economic front, global markets saw fluctuations as new data from China and the European Union indicated slower-than-expected growth. Concerns about China's economic slowdown, driven by weakened consumer demand and global trade tensions, weighed heavily on international markets. The release of inflation data from the Eurozone further fueled concerns about the ongoing economic recovery, as central banks around the world continued to balance inflation control with growth stimulation.

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Author: 100news.tv Editorial Team

How Yesterday's Debate Between Kamala Harris and Donald Trump Will Impact the U.S. Elections and Who Received More Positive Media Coverage

Yesterday's debate between U.S. Vice President Kamala Harris and former President Donald Trump became one of the key political events of recent weeks. The debate captured the attention of not only American voters but also global media, as it could significantly influence the 2024 presidential race. Let’s explore how the debate unfolded, what key moments stood out, and who received more positive feedback from the press.

Key Moments of the Debate

During the debate, each candidate focused on issues that concern American citizens. Donald Trump continued to defend his positions on the economy, immigration, and security, highlighting the successes of his previous presidency. He emphasized his role in reviving the economy after the COVID-19 pandemic and criticized the current administration for high inflation and rising crime rates.

Kamala Harris, on the other hand, focused on social justice, healthcare, and climate change. She defended Joe Biden's administration's policies, aiming to show that the Democratic Party’s approach is focused on long-term improvements, rather than just solving short-term problems. Harris also brought attention to issues of women's rights and minority rights, resonating with the progressive wing of the Democratic Party.

Impact on the Election

The impact of the debate on the election will depend on how the audience perceives each candidate’s position. For Trump, this debate was an opportunity to strengthen his support among conservative voters and attempt to sway moderate voters. His aggressive rhetoric and bold statements may appeal to his base, but could alienate undecided voters looking for a more balanced approach.

Kamala Harris, on the other hand, aimed to present herself as a representative of calmer and more measured policies. Her performance could help her gain more support among progressive voters and attract attention from those concerned about social justice and environmental issues.

However, according to political analysts, the debate is unlikely to drastically shift the opinions of voters who have already made up their minds. The main effect will likely be seen among independent voters who have not yet decided which candidate to support.

Media Reaction

The media response to the debate varied. Republican outlets, such as Fox News and The Wall Street Journal, praised Donald Trump for his confidence and decisiveness. Their coverage highlighted that Trump was able to communicate his ideas effectively and remains a leading figure among Republicans.