Business
UK interest rates set to stay at 4%, but policymakers ‘deeply divided’
UK interest rates are widely expected to be kept at 4% but policymakers are “deeply divided” about the threat of inflation, economists say.
The Bank’s Monetary Policy Committee (MPC) will make its next decision on interest rates on Thursday.
Many economists expect borrowing costs to be kept on hold following signs that inflation is continuing to cool, and as the Bank awaits measures announced in November’s autumn Budget.
However, some experts, including banking giants Barclays and Goldman Sachs, are predicting a cut to 3.75%.
This is because they think policymakers might be swayed by recent economic data which signals a need to reduce borrowing costs further.
Most economists agree that there will be divisions among the nine-person committee when it comes to this week’s vote.
James Smith, a UK developed market economist for ING, said: “Inflation has almost certainly peaked.
“Food inflation – a critical concern at the Bank of England this summer – fell back in September and is now running half a percentage point below official forecasts.
“This all comes at a time when the Bank is visibly divided on how problematic inflation really is.”
Official figures showed that UK Consumer Prices Index (CPI) inflation stayed at 3.8% in September, the same level as both July and August, with food prices easing during the month.
The headline figure came in below the 4% that many economists had been expecting.
But Mr Smith said that, while the MPC was “deeply divided”, it will likely remain cautious about the risk of inflation being persistent and opt to keep rates on hold this month.
He also said the Bank was crucially waiting on the outcome of the Budget on November 26, adding: “While the contours of the Budget are becoming clearer, the Bank’s rules mean it can’t act on Government policy until it’s official.”
He added that an interest rate cut in December was now “becoming more likely” in response to potential tax-raising measures.
On the other hand, Jack Meaning, chief UK economist at Barclays, predicted that the recent inflation data would be enough to tip policymakers towards cutting rates on Thursday.
Coupled with data pointing to slowing wage growth among UK workers, he said this would be likely to give the committee more confidence that inflation was set to ease.
It comes after economists at US investment bank Goldman Sachs also predicted that recent figures would be enough to convince the Bank to cut rates to 3.75%.
This marks a shift in sentiment after many experts were ruling out a rate cut in November and said borrowing costs may not be reduced until 2026, coming as a setback to millions of mortgage holders still expected to refinance on to higher rates.
New Delhi: Bhavish Aggarwal-run Ola Electric Mobility Ltd reported a consolidated net loss of Rs 418 crore for the July-September period (Q2 FY26), its exchange filing said on Thursday, as revenue slipped.
Revenue from operations dropped 43 per cent year-on-year to Rs 690 crore in Q2 FY26, down from Rs 1,214 crore in Q2 FY25, indicating a substantial decline in sales for the quarter.
However, the electric two-wheeler maker’s operating EBITDA loss narrowed to Rs 203 crore during the quarter from Rs 379 crore a year earlier, indicating improved cost efficiency.
The company’s auto segment delivered an EBITDA margin at 0.3 per cent by reducing Auto operating expense from Rs 308 crore to Rs 258 crore (on-quarter), the release said.
After the announcements of the results, Ola Electric’s stock fell to Rs 49.4 on the NSE, down 66 paise, during intra-day trade, posting a decline of 1.32 per cent from the previous close.
“For the Auto segment, we expect lower volumes than the Q1 guidance as we continue to focus on margin and cash discipline in a hyper competitive market,” the company said in its filing.
For H2 FY26, Ola Electric targets total deliveries of approximately 100,000 units. This moderation in unit volumes will be complemented by volumes from its new vertical beginning in Q4, the company added.
The company recorded sales of 16,034 e-scooters in October, marking a 61 per cent decline from 41,843 units sold in the same month last year, according to data from the government’s Vahan portal.
“On a full-year basis, we now expect FY26 consolidated revenue of around Rs 3,000 – Rs 3200 crore, reflecting a balanced focus on profitability over volumes,” the company said.
The auto segment will continue to improve QoQ profitability. We expect to exit Q4 with Auto gross margins around 40 per cent and segment EBITDA of around 5 per cent, it added.
Miles DavisDevon political reporter
PA MediaAbout 1,300 children in Devon are now getting free school meals who were not previously entitled to them.
Devon County Council and Torbay Council have changed the rules so families who are entitled to free school meals automatically get them without having to apply.
The increase in the number of children who are eligible also brings with it extra “pupil premium” funding that can be used to provide additional support for pupils from disadvantaged backgrounds.
Cornwall Council agreed to introduce the same scheme from September 2026 and said it believed it could affect about 1,800 children, while Plymouth City Council said it was also looking into the possibility of making the change.
The percentage of children receiving free school meals in the Devon County Council area has risen steadily from 9.6% in 2016/17 to just under 20% by 2023/24.
At the moment, a household must earn less than £7,400 a year to qualify for free school meals.
Devon County Council said it was the first county council in the country to introduce auto-enrolment for pupils whose family income made them entitled.
The council said there were now about 21,065 pupils receiving free school meals, with an increase of about 1,065 due to auto-enrolment.
‘Unfair link’
The leader of Devon County Council, Liberal Democrat Julian Brazil, said the application process for free school meals had been “a barrier” to some families.
He said: “This is one of those initiatives that makes absolute sense – it’s good for pupils and it’s good for schools.”
The changes have also meant that schools in the Devon County Council area will receive an additional £1.5m, with an extra £1,515 per primary pupil and £1,075 per secondary pupil on free school meals.
Moira Marder is chief executive of the Ted Wragg Trust, which has 18 schools across Devon.
She said: “The additional pupil premium funding unlocked by this policy will enable us to offer more targeted interventions and extra support to these students, moving one step closer to breaking the unfair link between disadvantage, opportunity and outcomes.”
According to research carried out by the charity End Child Poverty in conjunction with Loughborough University, 27% of children in the south-west of England were living in poverty in 2023/24.
That figure was highest in the Plymouth Sutton and Devonport area – at 35% of children – and at 32% in Torbay.
Sonia Duggan, who works for the charity Action for Children in Paignton, welcomed more childen getting free school meals but said many families were still struggling to feed themselves.
She said: “The auto-enrolment is great. However, it’s not going to touch the surface for some of our families.
“Our families are living in poverty. Everything has increased – all their bills, fuel costs, their food, everything.
“We have families that are working, that cannot afford to feed their children.”
Business
Digital Life Certificate From Comfort Of Home For Pensioners: How To Book Doorstep Request Through India Post; Check Direct Link
 "Digital Life Certificate From Comfort Of Home For Pensioners: How To Book Doorstep Request Through India Post; Check Direct Link")
New Delhi: India Post Payments Bank (IPPB) has signed a memorandum of understanding (MoU) with Employees’ Provident Fund Organisation (EPFO), to provide doorstep Digital Life Certificate (DLC) services to its pensioners under the Employees’ Pension Scheme, 1995.
Under this collaboration, IPPB — a 100 per cent government-owned entity under the Department of Posts — will leverage its wide network of over 1.65 lakh post offices and more than 3 lakh postal service providers (postmen and Gramin Dak Sevaks).
Digital Life Certificate For Free
EPFO will bear the cost of issuing Digital Life Certificate entirely, making the service free for their pensioners.
They are equipped with doorstep banking devices and digital process of face authentication technology and fingerprint biometric authentication, to assist EPFO pensioners in submitting their Digital Life Certificates conveniently from their homes, eliminating the need for them to visit bank branches or EPFO offices to submit traditional paper-based certificates.
Digital Life Certificate: How To Book Doorstep Request Online
Doorstep request for Digital Life Certificate can be made through the Post Info app or website.
You can visit https://ccc.cept.gov.in/ServiceRequest/request.aspx to book India Post doorstep request for Digital Life Certificate
India Post Payments Bank introduced the doorstep service of Digital Life Certificate in 2020 for generating Jeevan Pramaan for pensioners using Aadhaar-enabled biometric authentication to reduce the turnaround time for issuance of Jeevan Pramaan.
On completion of the certificate generation process, confirmation SMS will be received by the pensioner in his mobile number and the certificate can be viewed online the next day.
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