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Markets

UK bank shares tumble as sector fears new tax

British banks Barclays, Lloyds and NatWest saw their share price fall following news that the UK government could implement new taxes on the sector to fill a sizeable gap in the budget.

Economy

UK job vacancies fall at a slower pace while wage growth holds steady

Payrolled employment decreased by 8,000 in July compared with June, the smallest decline since a modest rise in January.

Economy

Bank of England cuts its main interest rate by a quarter point to 4%

The rate cut is the bank’s fifth since last August, when policymakers began to lower borrowing costs from a 16-year high of 5.25%.

Economy

UK economy contracts again in May despite government growth push

A modest 0.1% expansion was expected, although tariffs and tax increases continue to hamper growth.

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Economy

Bank of England holds interest rates amid intensifying inflation risks

As widely expected, the Bank of England kept interest rates on hold as fears grow that the conflict between Israel and Iran will escalate to involve the United States. This would likely send oil prices soaring and push UK inflation further above target.

Economy

UK economy contracts sharply in April: Will the BoE respond?

UK GDP shrank 0.3% in April, the sharpest drop since October 2023, led by declines in services and manufacturing. Labour market data weakened, fuelling speculation of a Bank of England rate cut in August as recession fears grow.

Economy

UK inflation jumps to highest in over a year on rising energy bills

Inflation in the UK rose to its highest level in over a year in April, driven by a wave of higher household bills, including energy and water, according to official figures released on Wednesday.

Economy

Bank of England cuts main interest rate as US tariffs threaten growth

The 25 basis point cut to 4.25% was widely expected by economists.

Economy

UK house price growth stays stagnant in March ahead of stamp duty hike

Northern Ireland continued to experience the strongest house price growth in the UK in the first quarter of the year, followed by the North West. London, meanwhile, struggled.

Economy

UK inflation slowed to 2.8% in February, fuelling hopes of a rate cut

The better-than-expected inflation figure comes as a relief to the economy as it faces the looming threat of stagflation: high inflation coupled with low output.

Economy

Bank of England keeps benchmark interest rate stable at 4.5%

The central bank's decision comes amid rising uncertainty over the UK's economic growth, especially as US tariff threats loom.

Economy

Bank of England expected to pause rate cuts despite contracting output

Policymakers find themselves in a tight spot ahead of Thursday’s rate decision, with growth remaining sluggish and inflation stubborn.

Economy

OECD trims eurozone growth outlook as global trade tensions bite

The OECD has lowered its eurozone GDP growth forecast to 1.0% for 2025, down from 1.3% in December, citing weak investment and rising geopolitical risks. Global growth is also revised down to 3.1% as trade disruptions weigh on sentiment.

Economy

The UK economy unexpectedly contracts in January in setback for state

The British economy shrank in the first month of 2025 compared with December, driven by a decline in production.

Business

UK house prices on the rise for sixth month in a row, says Nationwide

Economists have been predicting a flurry of buyers trying to complete purchases before stamp duty increases in April.

Economy

BoE chief says collaboration is key to solving economic imbalances

Speaking in Brussels, Andrew Bailey warned that fragmentation was "bad for global growth" during a time of uncertainty.

Economy

Shock for UK as Bank of England halves its economic growth prediction

The BoE's predictions follow its decision on Thursday to cut its main interest rate for the third time in six months. The bank now predicts that the British economy will only grow by 0.75% this year, down from its previous forecast of 1.5% just three months ago.

Economy

Bank of England cuts key interest rate as pound drops and stocks rally

The Bank of England cut its base rate to 4.5% amid easing inflation but flagged lingering risks. GDP growth remains weak, and potential US tariffs add uncertainty. The pound fell, while the FTSE 100 hit record highs.

Business

UK supermarket Sainsbury's axes thousands of jobs to cut costs

The cuts will be across the company in a cost-cutting drive which will see the closure of its cafes and pizza counters. There will also be a reduction in a number of senior management roles.

Economy

UK inflation in surprise December dip, raising hopes over bond markets

The rise in the interest rate investors are charging the UK government to borrow money over 10 years hit a 16-year high in recent days, piling pressure on Chancellor Rachel Reeves to cut spending or raise taxes.