British economy

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.

19/06/2025

Economy

US and UK sign a trade deal, but steel imports are still in question

The two leaders agreed on the details of how to implement the trading terms disclosed last month, including lowering tariffs on key British exports and opening the door of the UK to US imports.

17/06/2025

Economy

What's the average UK house price? May's market data shows resilience

Although broader economic challenges—such as uncertainties around US tariffs and businesses passing higher employment costs on to consumers—persist, the UK housing market experienced a slight boost in May.

02/06/2025

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.

21/05/2025

Economy

UK becomes fastest-growing G7 economy after strong first quarter

The UK economy recorded a better than expected first quarter, but experts warn, new taxes on UK businesses and high global uncertainty may slow down growth in the coming months.

16/05/2025

Economy

UK inflation falls more than expected boosting rate cut chances

Although there is increased speculation of more interest rate cuts this year, sticky-high inflation, which remains above the Bank of England's 2% threshold and an escalating global tariff war continue to be concerns.

16/04/2025

Business

China warns UK government to treat owners of British Steel fairly

The warning comes two days after the UK government took control of Chinese-owned British Steel using emergency powers.

14/04/2025

Economy

Chinese investment in the UK will face 'high trust bar', says minister

Chinese firms will have to fulfil strict criteria when investing in key sectors in the UK in the future, said the UK government after the rescue of British Steel.

14/04/2025

Economy

UK economy sees unexpected growth spurt in February before tariff woes

Although February's GDP report was upbeat, it did little to boost investor sentiment as US tariff uncertainties continue to weigh on the British and global economy.

11/04/2025

Economy

How car tariffs and defence spending are shaping growth in Europe

Uncertainty around US trade tariffs is costing the eurozone and the UK economy billions this year and the next, which cannot be entirely offset by increased defence spending in 2025.

29/03/2025

Business

Retailer WH Smith to be wiped off UK high streets soon following sale

This move comes as a fresh blow to the UK high street, which has been struggling to recover from the pandemic, witnessing a number of big name closures such as Debenhams.

28/03/2025

Economy

The UK’s economy grew marginally last year, sees surprise revision

The UK’s services sector boosted GDP in the final quarter, seeing a lift from human health activities and social work. The construction industry also contributed positively to GDP during the fourth quarter of 2024.

28/03/2025

Business

British Steel closes plant after failing to get UK government help

More than 2,000 jobs are at risk as Britain's second-biggest steelmaker failed to get an agreement with the UK government to support further operations.

27/03/2025

Economy

UK Spring Statement: Further budget cuts and halved economic growth

Britain's Chancellor of the Exchequer Rachel Reeves has laid out the latest on UK public finances. Her statement arrives at a moment when the nation needs to find billions to boost defence spending against the backdrop of an ailing economy. Here are the key takeaways.

26/03/2025

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.

26/03/2025

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.

20/03/2025

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.

18/03/2025

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.

14/03/2025

Economy

Struggling to find work? UK sees more jobseekers and fewer vacancies

UK firms are reluctant to hire due to subdued growth prospects and rising labour costs, two new studies show.

11/03/2025

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.

28/02/2025