AGP Executive Report
Last update: 11 hours agoBoE Rate Hold: The Bank of England kept interest rates at 3.75% in a 7-2 vote, citing easing inflation but warning higher costs may still feed through as it watches the fallout from the US-Iran truce and energy prices. Public Finance Watch: UK government borrowing jumped in May, with net borrowing at £23.2bn (above forecasts) and debt interest hitting £11.7bn, raising questions for future fiscal plans after Andy Burnham’s Makerfield win. Political Shock for Markets: Labour mayor Andy Burnham won a parliamentary seat in Makerfield, clearing a path to challenge Keir Starmer for Labour leadership and potentially trigger a new phase of political instability. Banking Access: Lloyds is set to close its Soho Road branch in Birmingham, with a plan for a permanent “banking hub” and ATM—another sign of the shift away from high-street branches. Student Finance Error: HMRC overcharged about 40,000 Plan 2 graduates on student loan interest due to an earnings calculation mistake, with some balances set to fall and others rise. Fintech & Industry: FinTech North returns to Leeds for its 10-year anniversary conference, spotlighting the region’s growing fintech ecosystem and links to regulators and major payments and wealth players. Oman CBDC Step: Oman’s central bank is preparing to appoint an independent assessor for its CBDC programme, focusing on feasibility, governance and implementation readiness.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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