34% of Brits Say UK Economy Is Huge Concern: Household Budgets Leaner and Food Scarcity Rising
Polling shows Britons place the economy at the top of the list of priorities and the UK government will need to address the public's concerns.
What Does UK Entering Recession After Steeper-Than-Expected Fall In GDP Mean For Brits
While recessions of the past, notably during the global financial crisis of 2008-2009, were protracted and severe, indications suggest that this downturn may be milder and short-lived.
Unemployment Rate in the UK: Official Figures Show Potential Discrepancy
The new data, derived from experimental results within the Labour Force Survey, could potentially exert pressure on the Bank of England to reconsider any immediate plans for interest rate cuts.
Which UK High Street Shops Will Close In 2024?
With some companies closing to prioritise expansion elsewhere and others shutting their stores due to bankruptcy, the UK can expect to see a mass increase of empty store-fronts.
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Bank of England Faces Pressure to Adjust Interest Rates as Inflation Forecasts Take a Surprise Turn
Three prominent forecasters – Oxford Economics, Investec, and Deutsche Bank – have issued updates indicating a potential halving of the inflation rate to two per cent by April, forcing the Bank of England (BoE) to reconsider its timeline for the first interest rate cut.
Bank of England Contemplates Earlier Interest Rate Cut Amidst Forecasts of Decreasing Inflation
Three prominent forecasters, including Oxford Economics consultancy, Investec, and Deutsche Bank, have revised their outlook for inflation in 2024.
Energy Bills Predicted To Fall To £1,660 From April, A New Forecast Suggests
Consultancy firm Cornwall Insight says bills could drop by £268 a 16 per cent decrease – in line with the official price cap set by the UK's energy regulator Ofgem.
Decline in UK Mortgage Rates Spurs Optimism for Homebuyers and Remortgagors
The United Kingdom has witnessed a notable drop in the average cost of a two-year fixed-rate mortgage, falling below six per cent for the first time in nearly six months.
Bank of England's Financial Stability Report Highlights Resilience Amid Rising Interest Rates
The Bank of England recently released its Financial Stability Report, spotlighting the resilience of UK households and businesses in the face of escalating interest rates.
Bank of England To Assess Risks AI Poses To UK Financial Stability
AI and machine learning have been used across the financial sector for at least a decade, such as to help detect fraud and money laundering.
UK Property Market Anticipates 1% Price Drop in 2024 Amidst Seller Competition and Mortgage Rate Stability
Rightmove foresees sellers having to adopt more competitive pricing strategies in 2024 to secure transactions.
UK Household Financial Struggles Soar Amid Cost-of-Living Crisis
The latest research from the consumer group Which? unveiled that 9.8 per cent of surveyed households admitted to missing or defaulting on payments for loans, credit cards, housing, or household bills during that period.
Bank of England Warns of Potential Market Correction Amidst Economic Uncertainties
The House of Lords Economic Affairs Committee released a report that critiques the Bank of England's scope of operation amidst the current cost of living crisis.
Central Banks Risk Tipping UK and Other Developed Countries Into Recession
The report highlights the risk of a vicious cycle, where low interest rates fail to stimulate meaningful economic growth and cause a recession.
Tories Slammed For Brexit After Bank of England Says It Has 'Chilled' UK Economy
The financial impacts of Brexit have left UK business investment levels "chilled", according to the Deputy Governor of the Bank of England.
UK Inflation Plunges to Lowest Figure in 2023 At 4.6% as Sunak on Track to Meet Annual Target
In September, inflation stood at 6.7 per cent, as many people across the UK continue to struggle with the cost-of-living crisis.
Nationwide's Competitive Two-Year Fixed-Rate Mortgage Signals Positive Shift in Property Market
Mortgage brokers have hailed Nationwide's decision as a "watershed moment", anticipating a revitalisation of the property market and instilling hope among borrowers.
October UK Retail Sales Drop Triggering Recession Worry in the UK Economy
UK retail sales growth declined in October as UK consumers are cautious of spending and saving for Christmas amidst the cost-of-living crisis which has sparked a recession for the UK economy.
Bank of England Holds Interest Rates At 5.25% for Second Time
Nine members of the Monetary Policy Committee (MPC) voted 6-3 in favour of maintaining the current rate, in a move that was widely anticipated.
HSBC Expresses Concerns About UK's Economic Outlook Despite a 240% Rise in Profits
HSBC, headquartered in London but primarily focused on the Asian market, announced pre-tax profits of $7.7 billion (£6.4 billion) for the third quarter spanning from July to September.
UK Economy at Risk of Recession as Business Activity Declines and Cost Pressures Ease
The preliminary reading of the S&P Global UK PMI for the services sector, often referred to as the "flash" PMI, fell to 49.2 in October from 49.3 in September.
UK Businesses 'Stuck in Reverse' in October, According to Recent Survey
The figures are worrying reading, as the Bank of England (BoE) prepares for its latest interest rate decision next week.
UK Inflation Resists Expected Slowdown in September Amid Rising Oil Prices
CPI reported a year-on-year increase of 6.7 per cent, maintaining the same pace as the previous month, contrary to economists' predictions of a dip to 6.6 per cent.
Economic Challenges Mount as UK Retail Sales Slow Amid Rising Inflation and Global Uncertainties
The latest sales-monitor report from the British Retail Consortium has revealed a slowdown in retail sales growth in the UK for September. Despite a fall in inflation, the high cost of living continues to place pressure on households' budgets.
UK Housing Market Faces 5.3% Yearly Decline as Interest Rates Squeeze Prices
According to Nationwide, the largest British building society, the seasonally adjusted housing price index revealed that prices remained stagnant in September, following a 0.8% decrease in August.
Bank of England Holds Interest Rates at 5.25%
The decision to hold the rate comes after figures revealed an unexpected slowdown in inflation in August.
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