Rate Cut Sparks Debate
The Bank of England is widely expected to lower the UK’s base interest rate this week, marking its lowest level in over 18 months.
Rate Cut Anticipated
Currently set at 4.75%, the base rate could be reduced to 4.5% fol...
Reeves’ Bold Fiscal Move
Rachel Reeves is reportedly taking inspiration from the European Union as she seeks ways to navigate strict fiscal rules on national debt to increase public spending, according to UK banking expert Bob Lyddon.
Chancel...
Revamping Predictions
Bank of England's chief economist, Huw Pill, acknowledges forecasting model's failure in addressing Britain's inflation crisis due to inadequate assessment of Ukraine war's impact on prices and wages.
Inadequate Forecasting Mo...
Battle Against Inflation
Chancellor Jeremy Hunt has organized a meeting with industry regulators to tackle the problem of price hikes driven by rampant inflation.
The meeting, happening on Wednesday, will involve representatives from...
Britain's Mortgage Crisis
Britain's mortgage crisis has prompted government action, but concerns remain over the effectiveness of the response.
Meeting with Jeremy Hunt
In a high-stakes meeting, Jeremy Hunt hosted executives and regulators to addr...
UK inflation drops slightly in March
UK inflation dropped to 10.1% in March, according to the Office for National Statistics. While this is a slight improvement from the 10.4% recorded in February, it is still in d...
The UK economy
The UK government is taking steps to minimize the economic impact of the recent bankruptcy of Silicon Valley Bank (SVB), one of the largest US banks.
Jeremy Hunt said that the government is working at a fast pace to respond to the fa...
Rate hike
The Bank of England raised its rate for the tenth time in a row, by 50 basis points, to 4% per annum, according to a statement on the regulator's website.
Edward Park, investment director at investment management firm Brooks Mac...
UK interest rates
The Bank of England has raised its rate for the ninth consecutive time, by 50 basis points, to 3.5 per cent per annum, according to a statement on the regulator's website.
"The Bank of England's Monetary Policy Committee (MPC) vot...
Financial sector reforms
The UK will carry out the first reforms to its financial sector after leaving the European Union (Brexit) to make it internationally competitive.
This was said by ...
Economy of UK
UK GDP, according to preliminary estimates, declined by 0.2% between July and September 2022. This is stated in a report from the Office for National Statistics (ONS) of the United Kingdom.
The drop in GDP in the country was not as no...
Economic crisis
There is no way out of the current crisis in the British economy painlessly and with minimal losses. This statement was made on Thursday by the Governor of the Bank of England, Andrew John Bailey, at a press conference in London.
"I...
Key rate
The Bank of England intends to resort to a more radical than planned key rate hike in response to the current difficult situation in the UK economy. The regulator's governor Andrew John Bailey said this, according to Sky News television on ...
Pound exchange rate
The British pound lost 1.5% of its value against the dollar on Friday on news of the dismissal of the kingdom's Finance Minister Kwasi Kwarteng. According to The Daily Telegraph, £1 now fetches $1.12, compared to $1.135 in ...
Coin design
The British Royal Mint has unveiled a coin design featuring Britain's new King Charles III. According to a statement released on Friday, the first 50p coins will go into circulation this December.
...
Experts say
The Bank of England could hold an emergency meeting of its Monetary Policy Committee and resort to a more aggressive increase in the benchmark interest rate if sterling continues to fall at the same rapid pace as it has this week. The Ob...
Inflation in the UK
The rapid rise in the cost of living in the UK is forcing UK pensioners back to work. The Guardian, a British newspaper, said this on Monday.
According to estimates of the National Statistics S...
Inflation is forcing people to save money
Growth in UK property prices for sale has fallen markedly this year. According to the Rightmove website, this is due to pressure on buyers due to rising living costs and the prospect of rising interest rates...
UK economy
The British government's response to the country's difficult economic situation will be to cut taxes, reduce the number of officials and expand housing stock. British Prime Minister Boris Johnson said this on Thursday during a speech in B...
The governor of the Bank of England has warned of "apocalyptic" food prices, saying he feels "helpless" amid soaring inflation.
Andrew Bailey hit back at criticism that the Bank acted too slowly to tackle inflation, blaming a "bad situation" on...
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