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Economy

 

Gearing up for rate hike, UK households turn gloomier on finances - survey

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LONDON British households' gloom about their finances deepened this month, and most now expect borrowing costs to rise again within six months after the Bank of England raised interest rates in November, a survey showed on Monday.

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British shoppers' New Year diets squeeze January retail sales 16 Feb 2018

LONDON British shoppers' New Year resolutions to get fit proved less healthy for retailers last month, as sales rose much less than expected and a longer-term backdrop of rising prices and lacklustre wages also weighed on growth. | Video

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Homeownership among young Britons plunges compared with 20 years ago - IFS 16 Feb 2018

LONDON The rate of homeownership among young, middle-income adults in Britain has more than halved over the last 20 years, according to research that highlights growing generational strains in British society.

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UK firms plan biggest pay rises since 2008, boosting rate hike case 14 Feb 2018

LONDON British workers are in line for their biggest pay rises since 2008 this year as a higher minimum wage kicks in, according to a Bank of England survey that is likely to fuel concerns among its policymakers' over inflationary pressures.

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May Bank of England interest rate hike now in play - Reuters poll 14 Feb 2018

LONDON Borrowing costs in Britain will probably increase in May, earlier than previously thought, according to a Reuters poll taken after the Bank of England said last week it was likely to hike earlier and by more than it thought only three months ago.

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UK inflation sticks at nearly six-year high in January 13 Feb 2018

LONDON British inflation unexpectedly held close to its highest level in nearly six years in January, highlighting the challenge facing the Bank of England and reinforcing expectations of a rise in interest rates in May. | Video

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Bank of England's Vlieghe says further rate rise likely 12 Feb 2018

LONDON Bank of England policymaker Gertjan Vlieghe said a further rise in British interest rates was likely to be needed if the global economic recovery and a pick-up in wages continued to offset headwinds from Brexit.

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UK consumer spending stays in the doldrums in January - Visa 12 Feb 2018

LONDON British shoppers spent less last month than the year before, causing spending in January to fall for the first time since 2013, according to a survey which underscored many households' caution about their finances and the approach of Brexit.

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UK economy grew 0.5 percent in three months to January - NIESR 09 Feb 2018

LONDON Britain's economy probably grew by 0.5 percent in the three months to the end of January, unchanged from its pace of growth at the end of 2017, the National Institute of Economic and Social Research (NIESR) said on Friday.

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Oil pipeline shutdown hits UK industry but manufacturing and construction grow 09 Feb 2018

LONDON British industry suffered its biggest fall since 2012 in December due to the temporary shutdown of a major oil pipeline, but growth in manufacturing confirmed the broader picture of solid economic expansion at the end of 2017.

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