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Sterling strength gives Bank of England rate-setters a headache


LONDON - As the Bank of England moves closer to raising interest rates for the first time since 2007, the strength of sterling is causing disagreement among its policymakers over when to pull the trigger.


UK investors pile into stocks as risk appetite returns - Reuters poll 31 Jul 2015

LONDON - British investors bumped up their stock bets by the most in a year in July and pulled out of cash, a Reuters poll found, after a deal to keep Greece in the euro stoked investors' appetite for riskier assets.

Global economic woes dent strong UK consumer sentiment 31 Jul 2015

LONDON - British consumer morale eased in July as concerns about Greece and the global economy weighed on Britons' outlook for the economic situation over the next year, a survey showed on Friday.


Edging towards rate hike, BoE sets out money market reform plan 30 Jul 2015

LONDON - The Bank of England set out plans on Thursday to reform a key benchmark for interbank borrowing costs, a measure of financial conditions that will come into sharper focus as the central bank comes closer to its first interest rate increase in nearly a decade.


UK mortgage lending jumps in June, business lending plunges 29 Jul 2015

LONDON - British mortgage lending picked up strongly in June, adding to signs that the housing market is regaining momentum, but a sharp drop in lending to businesses was a reminder that the economic recovery has yet to find a sounder footing.


Taylor Wimpey, Foxtons say buyer interest heats up post-election 29 Jul 2015

LONDON - Housebuilder Taylor Wimpey and London estate agent Foxtons said activity in the property market had stepped up since May's general election, with buyers' confidence boosted by sustainable levels of price inflation and low mortgage rates.


Britain seeks to stop foreign "dirty money" hiding in UK property market 28 Jul 2015

SINGAPORE - The UK government on Tuesday said it would clamp down on the use of "dirty money" to buy up expensive properties, promising to expose the owners of anonymous foreign shell companies hiding cash in London's buoyant housing market.

British pensions scam losses triple in month after freedoms 27 Jul 2015

LONDON - Losses to British pensions through criminal scams tripled in the month after the introduction of reforms which allow over-55s to spend their pension pots as they like, London police said on Monday.

Payday lender Cash Genie faces 20 million pound compensation bill 27 Jul 2015

LONDON - Payday lender Cash Genie has agreed to put aside 20 million pounds to compensate more than 92,000 customers for unfair practices, Britain's Financial Conduct Authority said on Monday.

Bank of England's Haldane sees no need for rush to raise rates 27 Jul 2015

LONDON - The Bank of England's chief economist, Andy Haldane, said he did not see the need to move quickly to raise interest rates because Britain's labour market is still recovering from the financial crisis and risks remain in the global economy.


Indian tycoon seals hotel deal at London's Old Scotland Yard

LONDON - Indian tycoon Yusuffali M.A has agreed a 110 million pounds ($171 million) deal to develop a luxury hotel on the site of the original Scotland Yard Police Station in London, as foreign buyers bet on the resilience of Britain's prime property market.


Rothesay Life insures 1.6 billion pounds of UK aviation regulator pension

LONDON - Specialist pensions insurer Rothesay Life said on Wednesday it was insuring 1.6 billion pounds ($2.5 billion) of the pension scheme of Britain's Civil Aviation Authority (CAA), bringing its new business this year to 3.4 billion pounds.

UK households bring forward rate hike expectations after Carney hint

LONDON - Bank of England Governor Mark Carney's message that higher interest rates are approaching has been heard by British households who are braced for tougher times ahead, according to a survey published by financial data firm Markit on Wednesday.

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