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British GDP

Sterling sidelined as dollar softens, euro plays catch-up
Markets

Sterling sidelined as dollar softens, euro plays catch-up

  • The pound's performance this year has been second only to the commodity-driven Canadian dollar among G10 currencies, buoyed by Britain's fast rollout of vaccines that sparked hopes of its economy reopening.
  • Traders said a lack of fresh economic data or other strong drivers meant the pound could not for now continue its recent march back to its high for the year of $1.4240, a level last reached in February.
Updated 25 May, 2021 06:48pm
UK PMI business survey hits record high as lockdowns ease, prices jump too
World

UK PMI business survey hits record high as lockdowns ease, prices jump too

  • Retail sales and consumer confidence data earlier on Friday also pointed to a swift recovery taking shape in Britain's economy as hard-hit restaurants, pubs and shops reopened following months of lockdown closures.
  • Hotels, restaurants and other previously closed consumer services saw the strongest jump in demand, the PMIs showed.
Published 21 May, 2021 05:04pm
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
UK public inflation expectations cool again in March
World

UK public inflation expectations cool again in March

  • Economists from Citi said improvements in the economic outlook appeared to be reducing fears of high inflation and uncertainty among members of the public.
  • "All of these developments suggest the risks surrounding inflation expectations - and in particular the risk expectations could become de-anchored to the upside - may be beginning to ease," the said.
Published 25 Mar, 2021 06:29pm
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