Economy

 

UK says will pay off part of World War One-era debt next year

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LONDON - Britain will pay back part of the outstanding debt used to fund World War One next year, when it redeems government bonds first issued almost 90 years ago by then-chancellor Winston Churchill.

UK consumer morale edges down as economic outlook clouds 7:27am GMT

LONDON - British consumer morale edged down for a second month in October as households showed less faith in the outlook for the economy, a survey by researchers GfK showed on Friday.

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Momentum in Britain's housing market eases further 30 Oct 2014

LONDON - British house price growth eased for a second month in a row on an annual basis in October, adding to evidence that a previously rapid upturn in Britain's housing market is losing steam, a survey showed on Thursday.

New legal powers for Bank of England to regulate mortgages 30 Oct 2014

LONDON - The government published proposals to give the Bank of England new legal powers to control residential mortgage lending on Thursday, but said it wanted more evidence before deciding on a BoE request to regulate lending to landlords.

UK bad bank warns about dangers of interest rate rise 30 Oct 2014

LONDON - Britain's 'bad bank' has begun contacting around 20,000 customers it thinks might have problems repaying their mortgages when interest rates start to rise, Chief Executive Richard Banks told Reuters on Thursday.

First BoE hike still seen in Q1 but economists less sure - Reuters poll 30 Oct 2014

LONDON - A rise in British interest rates in the first quarter of 2015 is now much less certain, according to a Reuters poll in which almost half the economists questioned thought the hike would come later in the year.

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UK lenders cut back on new mortgages as housing market slows 29 Oct 2014

LONDON - British lenders approved the fewest mortgages in more than a year last month, adding to signs that previously rapid growth in Britain's housing market and the broader economy is slowing.

UK's private-sector growth slows to seven-month low 29 Oct 2014

LONDON - Growth in Britain's private sector has slowed to its weakest since March, an industry survey showed on Wednesday, another sign the rapid rebound over the past year is giving way to a more sustainable pace of expansion.

UK inflation expectations hold steady at five-year low 29 Oct 2014

LONDON - Britons' expectations for inflation over the next 12 months held steady in October at 1.9 percent, matching the lowest reading since 2009, a monthly poll by YouGov showed on Wednesday.

Bank of England's Cunliffe says can keep rates low for longer 29 Oct 2014

LONDON - The Bank of England can afford to keep interest rates at their current record low for longer than thought, due to weak pay, low inflation and a darker international outlook, Deputy Governor Jon Cunliffe said on Tuesday.

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