Economy

 

Rising UK borrowing leaves no room for pre-election sweeteners

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LONDON - British government borrowing rose more than 10 percent in the first half of the financial year, giving Chancellorp George Osborne little scope to offer sweeteners to voters before a parliamentary election in May.

Markets may have over-reacted to slowdown - Bank of England's Haldane 20 Oct 2014

LONDON - Investors may have over-reacted to signs of economic slowdown, although they have been right to price in weaker global growth prospects, the Bank of England's chief economist said in a Sunday newspaper interview.

Political worries grow for UK, forecasters say 20 Oct 2014

LONDON - Business investors are increasingly worried about political risks in Britain, including the outcome of a general election in May and a possible referendum on European Union (EU) membership, an economic forecasting firm said.

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Bank of England may keep rates low for longer, says chief economist 17 Oct 2014

LONDON - Britain's economic recovery might stall if interest rates rise too soon, the Bank of England's chief economist said on Friday as he offered the strongest signal yet that the bank is prepared to delay increases in borrowing costs.

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First UK rate hike still expected in Q1 2015 despite low inflation 17 Oct 2014

LONDON - Falling inflation, stock markets and growth rates have virtually wiped out lingering expectations for a Bank of England interest rate hike this year though the consensus for a rise early in 2015 has not budged, a Reuters poll found on Thursday.

UK budget watchdog puts focus on labour market for new tax forecasts 17 Oct 2014

LONDON - Britain's independent budget watchdog said on Thursday it will work with tax authorities to look at how strong jobs growth but weak earnings have dented income tax revenues, before it makes new forecasts in December.

Lower-than-expected UK government borrowing in 2013/14 down to cyclical factors 16 Oct 2014

LONDON - Lower-than-expected British government borrowing in the last financial year was almost completely explained by cyclical factors that will disappear as the economy recovers, the Office for Budget Responsibility said on Thursday.

Bank error in UK's favour may cut new borrowing by 10 billion pounds 16 Oct 2014

LONDON - Britain may need to raise almost 10 billion pounds less from financial markets this year than previously thought, after its statisticians and the Treasury discovered a raft of errors in a key measure of borrowing needs.

UK firms raise marketing spend in sign of confidence in recovery 16 Oct 2014

LONDON - British companies raised their advertising budgets for the eighth quarter in a row in June to September, reflecting increased confidence in the country's broad-based recovery from recession.

BoE won't tell markets what to expect on rates - Weale 16 Oct 2014

HULL England - The Bank of England will not seek to react to financial markets' changing expectations about when the central bank will start to raise interest rates, a BoE policymaker said on Wednesday.

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