Tag Archives: UK

The Bank of England said UK banks will need at least six months to prepare for the switch to negative interest rates. This was after the bank fixed interest rates at 0.1%. The Bank of England asked British banks in October about their preparedness for negative interest rates, after it …

The Bank of England’s (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% at its January policy meeting and kept the Asset Purchase Facility steady at £895 billion.

The UK services sector activity contracted less-than-expected in January, the final report from IHS Markit confirmed this Wednesday. The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised higher to 39.5 in January versus 38.8 expected and a 38.8 – last month’s flash reading.

A survey published Monday, February 1, showed that British manufacturers faced a double whammy last month due to global shipping disruptions due to the outbreak of a new wave of the Coronavirus, accompanied by new trade barriers with the European Union. Separate data from the Bank of England showed a …

British Prime Minister Boris Johnson said on Monday that they will look at the potential to relax some of the coronavirus-related restriction measures, as reported by Reuters. “Noone would want to lift restrictions when the infection rate is so high.”“We don’t want a surge in infections.”“We will be responsible and …

The Prime Minister of the United Kingdom (U.K.), Boris Johnson, said on Friday that the new variant of the novel Coronavirus, which caused a global pandemic, could be resulting in a higher mortality rate, Reuters reported. However, Johnson noted that studies have shown that the two vaccines that have been …

Official data revealed that British retailers struggled to recover in December from partial lockdown measures the previous month, marking a weak end to their worst year on record, while public borrowing rose to its highest levels since 1962. These numbers bode poorly for Britain’s economy in early 2021, as it …

The UK manufacturing and services sector activities declined in January, the preliminary report from IHS Markit showed on Friday. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) hit a seven-month low of 52.9 in January versus 54.0 expected and 57.5 – December’s final reading.

Official data revealed today, Wednesday, that British house prices increased in November at the fastest pace since June 2016, as the rise in the housing market due to the Corona pandemic is likely to be near its peak. The Office for National Statistics said house prices rose 7.6% year-on-year in …

Official data revealed on Wednesday that UK inflation rose more than expected in December as transport costs such as airline tickets pushed it higher. The Office for National Statistics said the consumer price index rose 0.6% year-on-year after a 0.3% increase in November. A Reuters poll of the opinions of …