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Economy

Bank of England keeps rates at 5%, propels pound to over 2-year highs

The Bank of England held rates at 5%, as largely expected. The pound surged against the dollar and euro, while the FTSE 100 dipped slightly. European stocks rallied following the Federal Reserve's rate cut.

Economy

Bank of England set to hold rates steady as it eyes stubborn inflation

The Bank of England is set to announce its interest rate decision on Thursday, with market participants widely anticipating the rate to remain unchanged, given the unsupportive economic landscape.

Economy

Spotlight shifts to ECB as US CPI weakens case for Fed jumbo rate cut

European markets may be bracing for a hawkish rate cut from the European Central Bank, following higher-than-expected US inflation data, which dampened hopes for a significant rate reduction by the Federal Reserve.

Economy

UK jobs market sees worst month in more than a decade

The strength of the UK's jobs market fell for the 14th month in a row in August, according to accountant BDO.

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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.

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.

Economy

UK retail sales boosted by better weather after April's heavy showers

Britain's changeable weather made a huge difference for shop sales in May as consumers ventured out again with the appearance of blue skies and a more hopeful meteorological outlook.

Economy

UK’s technical recession raises doubts about Sunak’s economic claims

The UK slid into a technical recession at the end of 2023 because of increased inflation and soaring interest rates.

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

Skilled refugees locked out of UK workforce despite skills shortage

More than one in five senior managers in the United Kingdom believe UK citizens should be given preference for job vacancies, research shows.

Economy

Modest growth for UK economy after dip into recession

Strong spending in the services sector has seen the UK return to growth.

Economy

Cash no longer king - how Britain makes a mint from cards

The Treasury is making a mint from Britain's increasingly cash-free society.

Economy

UK Spring Budget: Chancellor cuts taxes as election looms

Jeremy Hunt, Britain's Chancellor of the Exchequer, has presented the Budget for his economic strategy - here are the key takeaways.

Work

UK firms make four-day workweek permanent after world’s biggest trial

A UK study shows work intensity remains lower and job satisfaction is higher during a four-day workweek.

Economy

UK government borrowing falls: What does it mean for taxes?

Hopes build for a cut in taxes as UK government borrowing drops sharply in December.

Economy

Brexit: Here is how much it cost for the UK economy

London Mayor Sadiq Khan calls on the UK government to "urgently build a closer relationship with the EU" after a new report reveals how much the UK economy is losing after leaving the EU.

Economy

UK economy sees rise in November, boosted by services sector

UK gross domestic product figures showed a rise in November, boosted by a strong month in services and production

Business

Here's some of the best options for starting a UK pension

Retirement may seem a long way off at the start of your career but it's never too early to start saving for a pension.

Economy

One step from recession: UK economy shrinks in third quarter

Revised figures show that the British economy performed worse in the last six months than previously expected.

Economy

UK Christmas miracle: Inflation dips to two-year low in November

The latest inflation data signals an easing in the cost of living crisis in the UK.