Finances

• The Federal Reserve maintained its key interest rate on Wednesday but signaled that future rate hikes are likely. • Fed officials revised their year-end PCE inflation projection upward to 3.6%, a significant increase from the estimates provided in March. • This shift has impacted financial markets, with the CME Group's FedWatch tool showing the probability of at least one rate hike by year-end jumping from 60% to 85%.

MPs urged to push for ‘radical reform’ after NAO finds former prince made income from Royal Lodge propertiesCampaigners have called for radical reform and a public inquiry into “all royal finances” after revelations that Andrew Mountbatten-Windsor received an undisclosed private income from subletting three cottages on his Royal Lodge estate while paying a “peppercorn rent”.A report from the public spending watchdog, the National Audit Office (NAO), found the rental income went to the former Duke of York, but said: “We do not know what rent was charged.” Continue reading...

• The House of Commons Library has released updated economic indicators focusing on UK government borrowing and debt. • Public sector net financial liabilities (PSNFL), a key metric for the government's wider financial balance sheet, reached 83.6% of GDP by the end of April 2026. • These indicators are critical as they track the government's progress toward specific fiscal targets and overall financial stability.