Economy

 

British growth slows, but 2014 still fastest in seven years

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LONDON - Britain's economic growth slowed more than expected in the final three months of last year, but with annual growth still at its fastest since 2007 the data gave ammunition to both sides of the political divide heading into May's election.

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UK banks approve fewest mortgages since April 2013 9:39am GMT

LONDON - British banks approved 35,667 mortgages for house purchase in December, the lowest number since April 2013, as the housing market continued to slow, the British Bankers' Association said on Tuesday.

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Eyeing May re-election, Cameron says voters "deserve" tax cuts 26 Jan 2015

LONDON - Prime Minister David Cameron said on Monday voters deserved to be rewarded with tax cuts "after years of sacrifice," pledging to reduce taxes if he won a general election in May.

BoE's Forbes hints rates may rise sooner than expected 26 Jan 2015

LONDON - British interest rates may rise sooner than many people expect if inflation rebounds strongly after its recent sharp fall, Bank of England rate-setter Kristin Forbes said in remarks published on Monday.

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British retail sales show surprise gain in December 23 Jan 2015

LONDON - British retail sales unexpectedly rose in December as shoppers flocked to supermarkets and bought more fuel as oil prices fell, providing a boost for the country's economic recovery that has shown signs of softening.

UK 2014 car production rises to highest since 2007 23 Jan 2015

LONDON - British car production rose to its highest level since 2007 last year, up 1.2 percent to 1.528 million cars, the Society of Motor Manufacturers and Traders said on Friday.

UK December public finances suffer from EU budget hit 22 Jan 2015

LONDON - British government borrowing rose sharply in December to cover a higher European Union budget bill, but the government could take some hope of meeting its full-year borrowing targets from higher tax revenues.

UK factories see hit to exports in coming months - CBI 22 Jan 2015

LONDON - British factories expect their export orders in the next three months to be the weakest since the middle of 2012, the Confederation of British Industry said on Thursday.

BoE's Miles says UK a long way from falling into deflation trap 22 Jan 2015

EDINBURGH - The sharp fall in British inflation does not raise the risk of damaging deflation and the Bank of England does not need to resume buying government bonds in response, a policymaker at the central bank said on Thursday.

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Bank of England dissenters drop call for higher rates after inflation slump 22 Jan 2015

LONDON - Two Bank of England policymakers have ditched their long-standing calls for an end to record-low interest rates in the face of tumbling inflation, prompting economists to again push back forecasts of when the BoE will start to tighten policy.

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