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Economy

 

Retail sales grow at fastest since 2004 in second quarter, despite June dip

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LONDON British shoppers stepped up purchases by the most in over a decade in the second quarter despite lower spending in June, official data showed on Thursday, giving the Bank of England some reassurance that a sluggish start to 2018 is over.

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Tame UK inflation knocks BoE rate hike expectations 18 Jul 2018

LONDON British inflation unexpectedly held steady last month, denting market confidence about a Bank of England interest rate hike next month and sending sterling to a 10-month low against the dollar.

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BoE to play its hand in August; UK-EU to eventually cut a deal - Reuters poll 18 Jul 2018

LONDON The Bank of England will nudge up borrowing costs next month, according to economists polled by Reuters this week who have grown a bit more confident Britain will strike a free trade deal with the European Union.

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UK companies' marketing budgets grow at second slowest rate in two years - survey 18 Jul 2018

British companies spent more on marketing in the second quarter than the previous quarter when budgets hit a near two-year low, but Brexit uncertainty continues to make firms cautious, a survey showed on Wednesday.

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Carney - no deal Brexit would prompt interest rate review 17 Jul 2018

FARNBOROUGH, England Bank of England Governor Mark Carney said on Tuesday that a no-deal Brexit would have "big" economic consequences, prompt a review of interest rates and leave many bankers idle.

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UK pay growth slows to six-month low despite record employment 17 Jul 2018

LONDON British workers' wages have risen at the slowest rate in six months despite a record number of people in jobs, challenging the Bank of England as it considers raising interest rates next month for only the second time since the financial crisis.

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UK heatwave, World Cup snap consumers out of winter gloom - Visa 16 Jul 2018

LONDON British consumers picked up the pace of their spending in June for the second month running, the first back-to-back increases in over a year, a survey showed on Monday, another sign that the economy is past its weak start to 2018. | Video

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Glut of property hits UK housing market in July - Rightmove 16 Jul 2018

LONDON Britain's housing market saw a glut of new property offered for sale this month, keeping a lid on prices at a time when sales typically suffer from a seasonal lull, property website Rightmove said on Monday.

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Bank of England's Cunliffe sees case for 'stodginess' in setting interest rates 13 Jul 2018

LONDON Bank of England Deputy Governor Jon Cunliffe sounded a note of caution about raising interest rates on Friday, saying there was limited evidence that wages were rising as fast as the BoE forecast earlier this year.

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UK lenders expect consumer lending to pick up in third quarter - BoE 12 Jul 2018

LONDON, July 12 British lenders expect demand for consumer borrowing to pick up in the third quarter, a Bank of England survey showed on Thursday, echoing signs of a broader recovery in the economy after a slow start to 2018.

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