Chancellor George Osborne turned to the Bank of England on Wednesday to help galvanise a stagnant economy which he said would grow this year at just half the rate previously expected. Full Article
LONDON - The Bank of England is warning about potential irregularities in financial markets on a regular basis as it tries to address the problems that dragged it into recent market scandals, a senior BoE official said.
LONDON - British retail sales rose at the fastest pace in three months in February, beating expectations and suggesting Britain's consumer-led economic recovery remains strong ahead of national elections in May.
LONDON - British retail sales growth rebounded in March after almost grinding to a halt in February, although optimism about sales in the coming month waned, an industry survey showed on Thursday.
LONDON - Mortgages approved by British banks rose in February for a second month in a row, adding to signs that a slowdown in the British housing market may have bottomed out, the British Bankers' Association said on Wednesday.
LONDON - Three Bank of England policymakers said on Wednesday they saw little chance of a cut in interest rates in the face of tumbling inflation, distancing themselves from the position of the central bank's chief economist.
LONDON - Prime Minister David Cameron used his last debate in parliament before a national election on May 7 to try to push his Conservative Party ahead of opposition Labour in stagnant opinion polls by ruling out a rise in value added tax.
LONDON - The British public's expectations for inflation in the next 12 months and further ahead rose this month for the first time since August, according to a survey published on Wednesday.
- Interest rates in Britain are likely to rise despite inflation falling to zero, Bank of England Deputy Governor Minouche Shafik told Kent Business in comments reported on Wednesday.
LONDON - British inflation vanished last month, hitting zero for the first time on record, official figures showed on Tuesday. | Video
Chancellor George Osborne looks to the Bank of England for more help. Full analysis from the NAB trading floor with currency strategist Nick Parsons and head of market economics Tom Vosa. Video
We’re now in a world where the wonkiest columnist in the driest newspaper in Britain is stating his case far more simply and clearly than a populist PR man turned PM. Commentary
When words and actions don’t match up, the problem is usually overly ambitious promises. In the debate on economic policy in the UK, the failure is in the present – the government’s description of fiscal and monetary policy flies in the face of reality. Commentary
Does devaluation still work? In the era after the financial crisis of 2007-08, there is mounting evidence that devaluation may not be able to help kick-start a stalled economy as readily as it may once have done. Commentary
To tackle debt Osborne needs to protect tax revenue. To maximise revenue, and appease recession-restless voters, he needs to promote economic growth. He could do all three by stamping on the UK’s property transaction tax and closing a crucial loophole. Commentary
You may say that our dreadful growth is the result of a lack of fiscal strategy, but this would be wrong. The trouble is that the economic strategy Osborne has adopted takes a long time to bear fruit and is fairly anti-growth, at least for the first few years. Commentary