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Economy

Bank of England holds key rate at 4% with inflation above target

The decision comes as no surprise as inflation in the UK remains stubbornly high, almost double the central bank's 2% target.

Economy

Why a decline in the UK's university sector is a threat to GDP

UK universities face a funding crisis that could cost the overall economy, but mostly impact a few already fragile regions, said Oxford Economics in a recent report.

Economy

The UK economy grows despite tariff pressures, outpacing G7 peers

While not comparable to the growth at the beginning of the year, July's numbers are bigger than predicted and signal a greater resilience than other top G7 economies.

Economy

The UK’s weak economic growth and Brexit: Is the worst over?

The UK’s decision to leave the European Union has left lasting impacts on the country’s economy. While many of the repercussions appear to be longstanding, including low productivity, Euronews Business asked experts whether they think the worst is over.

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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

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.