Tag Archives: UK economy

The Bank of England (BoE) is unlikely to raise interest rates due to the UK’s unexpected drop in inflation in June. The BoE raised rates 13 times since December 2021 to counter soaring price rises, which have driven up borrowing costs for millions. However, the UK’s inflation rate remains almost …

British Prime Minister Rishi Sunak said on Friday that Environment Minister Zac Goldsmith had been asked to apologize for criticizing a parliamentary committee, but had decided to resign instead. Goldsmith was reprimanded on Thursday by a parliamentary committee that has been critical of the conduct of a group of allies …

The GBP/USD pair experienced a sharp drop in the North American session following robust US data, highlighting the case for additional Federal Reserve tightening and higher Treasury bond yields. The upward revision of US GDP and a drop in Initial Jobless Claims suggest a bright US economic picture, triggering the …

The Bank of England hiked interest rates by a half-point more than predicted on Thursday, citing “significant” data indicating that British inflation will take longer to decline. The Bank of England’s Monetary Policy Committee (MPC) voted 7-2 to raise its main interest rate to 5% from 4.5%, the highest since …

The Bank of England (BoE) will publish its Interest Rate Decision on Thursday, June 22 at 11:00 GMT, and as the day approaches, below are the expectations anticipated by five major banks’ economists and experts. The “Old Lady” is projected to raise interest rates by 25 basis points (bps), to …

Wage growth in the United Kingdom accelerated and employment increased in the three months to April, heightening predictions that the Bank of England will hike interest rates again, maybe multiple times, to combat persistent inflationary pressures. On Tuesday, data from the Office for National Statistics (ONS) showed that the employment …

Bank of England Governor Andrew Bailey said on Tuesday the central bank had “very big lessons to learn”, with inflation still in double digits and food prices rising at the fastest rate since the 1970s. “I think there are very big lessons about how we operate monetary policy in the …

Following its May policy meeting, the Bank of England (BOE) announced that it raised the policy rate by 25 basis points (bps) to 4.5% as expected. Two policymakers, Tenreyro and Dhingra, voted to keep the policy rate on hold at 4.25%. “If there were to be evidence of more persistent …

The Bank of England (BoE) will release its monetary policy decision on Thursday at 11:00 GMT. Along with the decision, the meeting minutes and the Monetary Policy Report will be made public. Following the announcement, Governor Andrew Bailey of the Bank of England will attend a news conference at 11:30 …

Inflation expectations in the United Kingdom fell in April, according to Citi, providing some respite to the Bank of England, which is anticipated to announce its 12th consecutive interest rate hike next week, with investors banking on additional hikes after that. Citi said its monthly poll, conducted by market research …