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British economy

Sterling sags

Sterling sags

LONDON: Sterling gave up earlier gains on Thursday, as the Bank of England predicted a sharper rebound in the ...
Updated 07 May, 2021 10:01am
UK consumers cut their borrowing at record annual pace in Feb
World

UK consumers cut their borrowing at record annual pace in Feb

  • UK consumer lending falls at fastest rate since records began.
  • Built-up household savings point to fuel for economic recovery.
  • Mortgage approvals drop before new budget measures announced.
  • Household finances survey shows strain but improvement.
Published 29 Mar, 2021 07:20pm
Jump in UK inflation to put focus on BoE policy splits
World

Jump in UK inflation to put focus on BoE policy splits

  • Economists see UK inflation at 2.5% by late 2021 from 0.7% now.
  • Oil and one-off effects will lift UK prices through the year.
  • Soft jobs market to keep BoE away from raising rates this year.
  • BoE officials divided over how fast labour slack will dry up.
  • BoE's Haldane fears past deflationary forces poised to reverse.
Published 22 Mar, 2021 08:16pm
UK draws record demand for inflation-linked bond
Markets

UK draws record demand for inflation-linked bond

  • Investors submitted 2.832 billion pounds ($3.93 billion) of bids for the 800 million pounds on offer of an index-linked bond maturing in August 2031 .
  • That gave a bid-to-cover ratio of 3.54, the highest for any index-linked bonds since such auctions began in 1998.
Published 10 Mar, 2021 06:23pm
UK gilt yields extend rise as govt unveils more borrowing
Markets

UK gilt yields extend rise as govt unveils more borrowing

  • Britain's 30-year yields rose almost 10 basis points on the day to 1.33% while 10-year yields were up 7 basis points to 0.76%.
  • UK equities remained broadly unchanged during Sunak's speech with the domestically focused FTSE 250 index holding on to gains and the FTSE 100 easing just slightly.
Published 03 Mar, 2021 07:31pm