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British GDP

UK retail sales in surprise rebound

UK retail sales in surprise rebound

Published 19 Aug, 2022 07:30pm
LONDON: British retail sales surprisingly rose overall in July but consumer confidence is at a record-low level as...
Sterling sidelined as dollar softens, euro plays catch-up

Sterling sidelined as dollar softens, euro plays catch-up

Updated 25 May, 2021 06:48pm
  • 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.
UK PMI business survey hits record high as lockdowns ease, prices jump too

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

Published 21 May, 2021 05:04pm
  • 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.
Bank of England flags slower bond-buying as economy recovers

Bank of England flags slower bond-buying as economy recovers

Published 06 May, 2021 05:53pm
  • The BOE kept its bond-buying programme unchanged at 895 billion pounds ($1.24 trillion), as expected by economists .
  • The pound and British two-year gilt yields fell after the announcement before recouping those falls.
Sterling slips after reaching two-week high versus dollar

Sterling slips after reaching two-week high versus dollar

Updated 06 Apr, 2021 07:29pm
  • Versus the dollar, sterling was 0.4% lower at $1.3854 at 0859 GMT, after earlier touching $1.3919, its highest since March 19.
  • Sterling had its best quarter since 2015 versus the euro, gaining around 4.8%.
UK consumers cut their borrowing at record annual pace in Feb

UK consumers cut their borrowing at record annual pace in Feb

Published 29 Mar, 2021 07:20pm
  • 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.
UK public inflation expectations cool again in March

UK public inflation expectations cool again in March

Published 25 Mar, 2021 06:29pm
  • 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.
Jump in UK inflation to put focus on BoE policy splits

Jump in UK inflation to put focus on BoE policy splits

Published 22 Mar, 2021 08:16pm
  • 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.
UK draws record demand for inflation-linked bond

UK draws record demand for inflation-linked bond

Published 10 Mar, 2021 06:23pm
  • 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.
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