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5 Things You Need To Know, Today, on Wednesday 21st September 2022
5. US stocks dropped on Tuesday and government bonds came under pressure as investors awaited a closely watched interest rate decision by the Federal Reserve.
Officials are widely expected to deliver a third consecutive 0.75% point rate increase when the meeting concludes on Wednesday, taking the U.S. interest rate to 3.25%
4. Pay awards by British employers held at 4% for a fifth month in a row in August, well below annual inflation of close to 10%, giving a more muted picture than some other measures of wages.
The Bank of England is concerned that high inflation - which hit a 40-year peak in July - could become entrenched at a level above its 2% target if it leads to a lasting upward shift in typical pay deals.
3. The new operator of the National Lottery has said it hopes to more-than-double the amount of money allocated for good causes.
Allwyn Entertainment has been formally awarded the licence to run the lottery from February 2024.
2. The Treasury is refusing to publish a forecast of the UK's economic outlook alongside this Friday's mini-Budget.
Independent forecaster the Office for Budget Responsibility (OBR) has already provided a draft to Chancellor Kwasi Kwarteng.
1. Businesses could have their energy bills cut by a third under government support to be announced later.
Business Secretary Jacob Rees-Mogg is expected to reveal a cap on wholesale energy costs for business customers.