Economy

 

Bank of England splits over rate hike for first time in 3 years

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LONDON - Bank of England policymakers have broken ranks over interest rates for the first time in three years, with two of them unexpectedly voting to tighten policy, in a move that revives speculation about a 2014 rate hike.

UK factory orders grow faster than expected in August - CBI 20 Aug 2014

LONDON - British factory orders grew faster than expected this month as overseas demand picked up, the CBI's industrial trends survey showed on Wednesday.

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UK inflation falls more than expected in July 19 Aug 2014

- British inflation eased more than expected in July after hitting a five-month high in June, official data showed on Tuesday.

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Asking prices for UK homes slump in August, led by London-Rightmove 18 Aug 2014

LONDON - Asking prices for houses in Britain have fallen at the sharpest pace on record for the month of August, led by a drop in London, as the market gets ready for higher interest rates, a survey showed on Monday.

No guarantee Bank of England can pull off plan for gradual rate rises 18 Aug 2014

LONDON - The Bank of England is hoping it can gently wean Britain's economy off record-low borrowing costs, but its plan for "gradual and limited" rises in interest rates might prove harder to pull off than investors expect.

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UK economy grows at fastest annual pace in over 6 years 15 Aug 2014

LONDON - Britain’s economy kept up its strong growth in the second quarter of 2014 and its yearly pace of expansion was revised up to 3.2 percent, its best performance in more than six years, official data showed on Friday.

UK inflation gauge for housing costs loses 'official statistic' status 15 Aug 2014

LONDON - A measure of British inflation launched last year to better reflect housing costs will no longer be treated as an official national statistic while it is being improved, the statistics authority said on Thursday.

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Bank of England's Carney wrong-foots investors again 14 Aug 2014

LONDON - Bank of England Governor Mark Carney is gaining a reputation for upsetting the financial markets.

Subdued inflation means BoE won't be pushed into hiking rates sharply 14 Aug 2014

LONDON - The Bank of England will not be pushed into raising interest rates sharply because the outlook for inflation is subdued, a policymaker on the Bank's rate setting commmittee said on Thursday.

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Bank of England focuses on weak wages, rate rise lower on agenda 14 Aug 2014

LONDON - The Bank of England dented expectations of a first interest rate hike this year, slashing its forecast for wage growth and saying higher borrowing costs hinged largely on an improved outlook for pay.

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