UK economy shrinks ahead of BoE rates decision Britain's economy shrank in October, official data showed today, raising the risk of a recession and testing the Bank of England's resolve to stick to its tough anti-inflation line against cutting interest rates from their 15-year high. Business • 13 Dec 23
UK economy shrinks ahead of BoE rates decision Britain's economy shrank in October, official data showed today, raising the risk of a recession and testing the Bank of England's resolve to stick to its tough anti-inflation line against cutting interest rates from their 15-year high. Business • 13 Dec 23
UK banks face smaller impact from Basel rules The Bank of England said today that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, far less than for their European Union and US peers. Business • 12 Dec 23
UK banks face smaller impact from Basel rules The Bank of England said today that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, far less than for their European Union and US peers. Business • 12 Dec 23
UK pay growth slows but probably still too high for BoE British wage growth slowed more than expected in the three months to the end of October, official data showed, but pay is probably still increasing too quickly to persuade the Bank of England to cut interest rates any time soon. Business • 12 Dec 23
UK pay growth slows but probably still too high for BoE British wage growth slowed more than expected in the three months to the end of October, official data showed, but pay is probably still increasing too quickly to persuade the Bank of England to cut interest rates any time soon. Business • 12 Dec 23
Bank of England to hold its line against rate cut talk The Bank of England looks set to stick to its tough line against talk of interest rate cuts in Britain, even as other leading central banks signal that they might be approaching a turning point in their fight against inflation. Business • 08 Dec 23
Bank of England to hold its line against rate cut talk The Bank of England looks set to stick to its tough line against talk of interest rate cuts in Britain, even as other leading central banks signal that they might be approaching a turning point in their fight against inflation. Business • 08 Dec 23
UK needs tougher fiscal policy amid tax cut talk - OECD Britain's government should tighten its budgetary belt, the OECD said today, advice that is unlikely to be welcomed by Prime Minister Rishi Sunak who is expected to cut taxes again before a 2024 election. Business • 29 Nov 23
UK needs tougher fiscal policy amid tax cut talk - OECD Britain's government should tighten its budgetary belt, the OECD said today, advice that is unlikely to be welcomed by Prime Minister Rishi Sunak who is expected to cut taxes again before a 2024 election. Business • 29 Nov 23
UK inflation rate falls to lower-than-expected 4.6% British inflation cooled by more than expected in October as household energy prices dropped from a year ago while stubbornly high services sector price growth also eased. Business • 15 Nov 23
UK inflation rate falls to lower-than-expected 4.6% British inflation cooled by more than expected in October as household energy prices dropped from a year ago while stubbornly high services sector price growth also eased. Business • 15 Nov 23
UK wage growth cools slightly but stays close to record British wages grew slightly less fast in the three months to September but remained close to their record pace, according to official data that will do little to ease the Bank of England's concerns about inflation pressures. Business • 14 Nov 23
UK wage growth cools slightly but stays close to record British wages grew slightly less fast in the three months to September but remained close to their record pace, according to official data that will do little to ease the Bank of England's concerns about inflation pressures. Business • 14 Nov 23
UK economy fails to grow in third quarter - ONS Britain's stagnating economy failed to grow in the three months from July to September but at least managed to avoid the start of a recession, figures from the Office for National Statistics showed today. Business • 10 Nov 23
UK economy fails to grow in third quarter - ONS Britain's stagnating economy failed to grow in the three months from July to September but at least managed to avoid the start of a recession, figures from the Office for National Statistics showed today. Business • 10 Nov 23
Far too early for talk of interest rate cuts - Makhlouf The Governor of the Central Bank Gabriel Makhlouf has said the economy and financial system "is still adjusting to the change in interest rates by central banks." Business • 08 Nov 23
Far too early for talk of interest rate cuts - Makhlouf The Governor of the Central Bank Gabriel Makhlouf has said the economy and financial system "is still adjusting to the change in interest rates by central banks." Business • 08 Nov 23
Traders bet ECB first big central bank to cut rates Financial markets are ramping up expectations for interest rate cuts from the European Central Bank, betting it will be the first major central bank to ease policy to buffer a euro zone economy facing recession in contrast to a robust US. Business • 03 Nov 23
Traders bet ECB first big central bank to cut rates Financial markets are ramping up expectations for interest rate cuts from the European Central Bank, betting it will be the first major central bank to ease policy to buffer a euro zone economy facing recession in contrast to a robust US. Business • 03 Nov 23
Bank of England keep UK interest rates at 15-year high The Bank of England held interest rates at a 15-year peak today as it kept up its fight against the highest inflation among the world's big rich economies, and it stressed that it did not expect to cut them any time soon. Business • 02 Nov 23
Bank of England keep UK interest rates at 15-year high The Bank of England held interest rates at a 15-year peak today as it kept up its fight against the highest inflation among the world's big rich economies, and it stressed that it did not expect to cut them any time soon. Business • 02 Nov 23
Lack of homes for sale gives UK prices surprise boost British house prices unexpectedly rose by almost 1% in October but the increase was due more to a lack of homes for sale than a turnaround in the market which has been hit by a jump in borrowing costs, mortgage lender Nationwide said. Business • 01 Nov 23
Lack of homes for sale gives UK prices surprise boost British house prices unexpectedly rose by almost 1% in October but the increase was due more to a lack of homes for sale than a turnaround in the market which has been hit by a jump in borrowing costs, mortgage lender Nationwide said. Business • 01 Nov 23
UK factories struggle in October in new downturn sign UK factories suffered a worse October than previously thought, according to a survey published a day before the Bank of England is expected to restate its intent to keep interest rates high, despite widespread signs of an economic slowdown. Business • 01 Nov 23
UK factories struggle in October in new downturn sign UK factories suffered a worse October than previously thought, according to a survey published a day before the Bank of England is expected to restate its intent to keep interest rates high, despite widespread signs of an economic slowdown. Business • 01 Nov 23
UK inflation rate holds at 6.7% in September British annual consumer price inflation was unchanged at 6.7% in September holding at August's 18-month low, official data showed today. Business • 18 Oct 23
UK inflation rate holds at 6.7% in September British annual consumer price inflation was unchanged at 6.7% in September holding at August's 18-month low, official data showed today. Business • 18 Oct 23
UK regular pay grows 7.8% in three months to August British average earnings, excluding bonuses, were 7.8% higher than a year earlier during the three months to the end of August, the Office for National Statistics said today. Business • 17 Oct 23
UK regular pay grows 7.8% in three months to August British average earnings, excluding bonuses, were 7.8% higher than a year earlier during the three months to the end of August, the Office for National Statistics said today. Business • 17 Oct 23
Sluggish UK economy grows by 0.2% in August - ONS The UK economy partially recovered in August after a sharp drop in July but the bigger picture remained one of only sluggish growth after last year's surge in inflation and 14 back-to-back interest rate hikes by the Bank of England. Business • 12 Oct 23
Sluggish UK economy grows by 0.2% in August - ONS The UK economy partially recovered in August after a sharp drop in July but the bigger picture remained one of only sluggish growth after last year's surge in inflation and 14 back-to-back interest rate hikes by the Bank of England. Business • 12 Oct 23
UK set to have weakest growth among G7 in 2024 - IMF Britain is set to have the slowest-growing economy among the Group of Seven nations next year - when the country is likely to choose a new government - according to forecasts published by the International Monetary Fund today. Business • 10 Oct 23
UK set to have weakest growth among G7 in 2024 - IMF Britain is set to have the slowest-growing economy among the Group of Seven nations next year - when the country is likely to choose a new government - according to forecasts published by the International Monetary Fund today. Business • 10 Oct 23
UK factory activity slows sharply in September - PMI British manufacturing activity slowed sharply in September, though less steeply than the month before when it shrank at the fastest rate in more than three years, a survey showed today. Business • 02 Oct 23
UK factory activity slows sharply in September - PMI British manufacturing activity slowed sharply in September, though less steeply than the month before when it shrank at the fastest rate in more than three years, a survey showed today. Business • 02 Oct 23
UK recession risk deepens as companies falter - PMI British companies endured a much tougher September than feared, marked by growing unemployment and recession risks, according to a survey today. Business • 22 Sep 23
UK recession risk deepens as companies falter - PMI British companies endured a much tougher September than feared, marked by growing unemployment and recession risks, according to a survey today. Business • 22 Sep 23
Bank of England halts run of interest rate hikes The Bank of England halted its long run of interest rate increases today as the British economy slowed, but it said it was not taking a recent fall in inflation for granted. Business • 21 Sep 23
Bank of England halts run of interest rate hikes The Bank of England halted its long run of interest rate increases today as the British economy slowed, but it said it was not taking a recent fall in inflation for granted. Business • 21 Sep 23
UK inflation rate unexpectedly falls to 6.7% in August British annual consumer price inflation (CPI) unexpectedly fell to 6.7% in August, official data showed today, a day before the Bank of England is expected to raise rates again. Business • 20 Sep 23
UK inflation rate unexpectedly falls to 6.7% in August British annual consumer price inflation (CPI) unexpectedly fell to 6.7% in August, official data showed today, a day before the Bank of England is expected to raise rates again. Business • 20 Sep 23
Bank of England readies what may be its final rate hike The Bank of England is likely to hike interest rates once again this week, possibly the last hurrah for one of the great tightening cycles of the last 100 years as a cooling economy begins to worry policymakers. Business • 18 Sep 23
Bank of England readies what may be its final rate hike The Bank of England is likely to hike interest rates once again this week, possibly the last hurrah for one of the great tightening cycles of the last 100 years as a cooling economy begins to worry policymakers. Business • 18 Sep 23
UK economy stumbles in July as strikes and rain weigh Britain's economy contracted in July at an unexpectedly sharp rate after strikes in hospitals and schools as well as unusually rainy weather weighed on output, according to official figures on Wednesday that will add to worries about the outlook. Business • 13 Sep 23
UK economy stumbles in July as strikes and rain weigh Britain's economy contracted in July at an unexpectedly sharp rate after strikes in hospitals and schools as well as unusually rainy weather weighed on output, according to official figures on Wednesday that will add to worries about the outlook. Business • 13 Sep 23
UK house prices see biggest fall since 2009 British house prices have fallen at the fastest pace since 2009 over the past year, reflecting the increasing impact of higher interest rates, mortgage lender Halifax said today. Business • 07 Sep 23
UK house prices see biggest fall since 2009 British house prices have fallen at the fastest pace since 2009 over the past year, reflecting the increasing impact of higher interest rates, mortgage lender Halifax said today. Business • 07 Sep 23
UK factory orders tumble in the face of higher rates - British factories in August suffered their weakest month since early in the Covid-19 crisis, with orders shrinking dramatically due to the rise in interest rates at home and abroad, a survey showed today. Business • 01 Sep 23
UK factory orders tumble in the face of higher rates - British factories in August suffered their weakest month since early in the Covid-19 crisis, with orders shrinking dramatically due to the rise in interest rates at home and abroad, a survey showed today. Business • 01 Sep 23
