Tag Archives: UK

The Chief Economist and the Executive Director of Monetary Analysis and Statistics at the Bank of England (BoE), Andy Haldane, said on Wednesday that the role of central banks against the COVID-19 pandemic is limited in tackling inequalities, Yahoo Finance UK reported. “Many of the yawning social, economic, and financial …

The British pound rallied on Tuesday as the US dollar weakened and investors ignored an unexpected drop in monthly retail sales data in Britain. The dollar fell after investors returned to riskier currencies while a successful phone call between the United States’ top trade officials and China sparked a positive …

The Confederation of British Industries said that British retailers have cut the most jobs since the financial crisis and that it expects job losses to accelerate, adding to warning signs of an expected sharp rise in unemployment. Tuesday’s data also showed an unexpected drop in sales this month, which contrasts …

Britain’s public debt exceeded 2 trillion pounds ($ 2.65 trillion) for the first time, underscoring the challenge facing Finance Minister Rishi Sunak, who is under pressure to provide more emergency support for the economy ravaged by the coronavirus pandemic. Net debt in July, which excludes public banks, rose to £ …

British retail sales rose above pre-coronavirus levels in July, the first full month that stores selling non-essential goods opened their doors since the country went into lockdown measures in March. The strong unexpected retail sales data reveals strength in consumer demand even as the rest of the economy struggles to …

Despite the Brexit, London is expected to maintain a big role in the European financial market, Reuters reported. It was expected that many company will leave the UK capital, thus, affecting the place of London as a global financial hub. However, it now seems that Frankfurt will not be making …

Britain’s inflation rate unexpectedly jumped last month, to its highest level since March, as clothing stores refrained from the usual summer cuts after reopening their doors following general isolation measures due to the Coronavirus, but most economists expect it to return soon. The Office for National Statistics said the annual …

British Health Minister Matt Hancock said Britain would likely not follow the example of France in requiring people to wear masks in the workplace because its screening and monitoring program shows that most people with Covid-19 disease have been infected at home. “We are not studying to do that at …

The UK Consumer Prices Index (CPI) 12-month rate came in at +1.0% in July compared to +0.6% in June while beating expectations of a +0.6%, the UK Office for National Statistics (ONS) reported on Wednesday. Meanwhile, the core inflation gauge (excluding volatile food and energy items) came at +1.8% YoY …

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Wednesday, as the overall industrial sector returned to expansion in June. Manufacturing output arrived at 11.0% MoM in June versus 10.0% expectations and 8.4% booked in June, while total industrial output came in at 9.3% …