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Economy

BoE cuts interest rates in first drop in four years as inflation falls

The Bank of England cut interest rates by 0.25% to 5% with a narrow 5-4 vote, as inflation met the 2% target. This decision caused the British pound to weaken and led to a slight rebound in UK equities.

Markets

UK interest rates should stay on hold this summer, warns BOE official

The UK's jobs market is currently too strong to start cutting interest rates, says BOE Monetary Policy Committee member Jonathan Haskell.

Economy

UK investors 'not satisfied' with portfolio performance - says report

Many UK investors have been dissatisfied with their portfolio performances over the last year, according to new research by investment firm RAW Capital Partners.

Economy

UK house prices edge up in June, despite higher mortgage rates

British house prices showed a small gain in June from May but the impact of higher borrowing costs is still weighing on the property market, mortgage lender Nationwide says.

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Economy

UK economic recovery was faster than first estimated in early 2024

The UK economy grew at a faster pace than initially estimated, in the first three months of 2024, as the country emerged from recession, revised official figures show.

Business

Fall in UK salary levels fuels hopes of future interest rate cuts

Salaries have fallen for the first time in six months, boosting hopes of a Bank of England rate cut later this summer.

Economy

Bank of England keeps rate on hold: Investors betting on August cut

The Bank of England kept the Bank Rate at 5.25% in June, with two MPC members favouring a 0.25% cut. Inflation rate hit the 2% target in May, yet policymakers continue to advise caution to interest rate cuts.

Economy

UK inflation rate hits target of 2%: Is this a signal for rate cuts?

The United Kingdom's overall inflation rate fell to 2% year-on-year in May, hitting the Bank of England's target for the first time since July 2021, just ahead of the bank's June meeting.

Business

Hargreaves Lansdown set to back consortium's euro billions bid

This proposed offer of €6.3bn for the UK's largest stockbroker follows three previous approaches from the consortium in recent months.

Markets

Weekly markets recap: European stocks sink on political jitters

Global markets were mixed this week as European stocks tumbled on political turmoil, while Wall Street hit a new high fueled by a tech rally.

Business

Mexican billionaire buys major stake in BT as new strategy takes hold

Carlos Slim who is Latin America's richest man has disclosed a 3.2% stake in the FTSE 100 company, making him one of its largest shareholders. With the purchase by Slim's family business, Inbursa, he becomes the latest high profile investor in the telecoms group.

Markets

Fed rate decision: European stock markets recoup most of earlier falls

European stock markets recoup most of their losses from earlier in the week following the release of US CPI data. Regional markets opened lower despite the Fed’s rate decision propelling Wall Street to all-time highs overnight.

Economy

BoE holds rates steady, sees inflation below target in two years

The Bank of England maintained interest rates at 5.25%, in a split decision with two members dissenting. Governor Andrew Bailey indicated it's premature to reduce rates. New forecasts project that price pressures will fall below the target within two years.

Business

Ahead in the Markets: The BoE's rate decision, UBS, and ARM earnings

This week, all eyes will be on the Bank of England's (BoE) rate decision, along with the release of quarterly earnings reports from major companies including UBS and BP. These events will provide crucial insights into the market trajectory and investor sentiment.

Economy

UK inflation drops to two and a half year low as food prices cool

Stabilising food inflation and falling house prices both contributed to UK inflation coming down further in March, leading to renewed hopes that the Bank of England might cut rates soon.

Markets

Gold hits fresh high: Why are investors turning to the precious metal?

A closer look at why the price of gold has hit a fresh record this week as other commodities also move higher, including oil prices.

Economy

Bank of England holds rates steady, inflation set to drop

The Bank of England has held the interest rate at 5.25%, with one dissent by Swati Dhingra advocating for a 0.25% cut. Projections see inflation dipping below the target in Q2 2024.

United Kingdom

King Charles III banknotes to enter circulation in June 2024

New banknotes will be issued solely to substitute worn ones and to accommodate any rise in demand for banknotes.

Economy

Pound moves higher as UK retail sales rise at fastest pace since 2021

January's jump in sales was the biggest since April 2021 and followed a 3.3% fall in December.

Economy

UK enters recession as economy shrinks: Will the BoE cut rates sooner?

An economy is widely considered to enter a technical recession following two consecutive quarters of negative economic growth, which is usually measured by GDP.