Economy

 

UK consumer confidence holds at high level in February - GfK

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LONDON - British consumer confidence held steady at a high level this month as low inflation and rising wages made Britons more confident about their finances, according to a poll published on Friday.

British wage growth has turned around - Bank of England's Forbes 11:41am GMT

LONDON - British wage growth has turned around and will feed through to higher inflation at some point, meaning the Bank of England will have to start thinking about raising interest rates, policymaker Kristin Forbes said in an interview published on Friday.

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UK business investment slips as oil prices fall, GDP growth steady at +0.5 pct 26 Feb 2015

LONDON - Investment by businesses in Britain fell at its sharpest rate in nearly six years in the last quarter of 2014, hit by lower investment in the petroleum sector as global oil prices fell.

UK consumers more confident as pay grows, inflation falls - survey 26 Feb 2015

LONDON - British consumers have turned more upbeat as faster pay growth and very low inflation make them more confident about their finances, a poll showed on Thursday, little more than two months before a national election.

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UK Jan mortgage approvals rise for first time since June - BBA 25 Feb 2015

LONDON - Mortgages approved by British banks rose in January for the first time since June, although they were still around a quarter below their level a year previously, the British Bankers' Association said on Wednesday.

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Don't use low inflation to curb pay, BoE's Carney warns employers 24 Feb 2015

LONDON - Bank of England chief Mark Carney warned employers on Tuesday not to use near-zero inflation as an excuse to offer staff low wage settlements, as that might derail Britain's economic recovery.

UK should press on with austerity plans, says OECD 24 Feb 2015

LONDON - The Organisation for Economic Cooperation and Development said on Tuesday that Britain should continue to cut its budget deficit after May's national election, and might need to rethink plans to shield healthcare and schools spending.

Inflation, other risks could mean UK rate hike in near future - BoE's Forbes 24 Feb 2015

LONDON - British inflation pressures could pick up quickly and other factors could also mean an interest rate hike is needed "in the near future" but the Bank of England is right to keep rates on hold for now, a BoE policymaker said on Tuesday.

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Cameron woos pensioner vote with welfare perks promise 24 Feb 2015

LONDON - Prime Minister David Cameron promised Britain's pensioners on Monday that they could keep a range of welfare perks if he is re-elected on May 7, seeking to shore up support from one of the groups most likely to use their votes.

Government body urges 3 percent rise in minimum wage 24 Feb 2015

LONDON - A British government body recommended a 3 percent rise in the minimum wage on Monday, which would take it to 6.70 pounds an hour, the biggest real-terms increase since 2007.

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