Tag: UK economy

• Friday, February 21st 2014 - 07:30 UTC

  Chancellor Osborne warns UK recovery 'is not yet secure' despite recent growth surge

  

  UK Chancellor George Osborne said next month’s Budget will continue to confront Britain’s problems as he cautioned the recovery was “not yet secure” despite a recent surge in growth.

• Thursday, August 8th 2013 - 03:15 UTC

  Bank of England ‘forward guidance’: no rate rise until unemployment falls to 7%

  

  The Bank of England's new Governor Mark Carney said the central bank will not consider raising its record low interest rate and stimuli until unemployment falls below 7%.

• Friday, August 2nd 2013 - 02:47 UTC

  Bank of England leaves rates unchanged as UK economy seems to be picking up

  

  Bank of England's Monetary Policy Committee (MPC) has left interest rates at 0.5%. The key borrowing rate has been at that level since March 2009. MPC also said it would make no change to the £375bn of monetary stimulus it is providing through its quantitative easing program (QE).

• Saturday, January 12th 2013 - 12:13 UTC

  More signs that the UK economy contracted in the last quarter of 2012

  

  Disappointing figures on industrial production and construction in November have added to fears that the UK economy contracted in the last quarter of 2012. The index of production grew 0.3% in November, compared with October, but had been expected to grow more as some North Sea oil and gas production resumed following maintenance.

• Thursday, July 5th 2012 - 22:25 UTC

  Bank of England pumps further £50 billion to the economy; total stimulus £375 bn

  

  The Bank of England has announced on Thursday it will pump a further £50bn into the UK economy over the next four months through its quantitative easing (QE) program to try to help the economy.

• Thursday, May 10th 2012 - 20:08 UTC

  Bank of England forgets stimulus and targets inflation in spite or recession

  

  Bank of England policymakers on Thursday decided against pumping more cash into Britain's recession-hit economy, preferring to sit tight after a surprise spike in inflation.

• Thursday, February 10th 2011 - 23:24 UTC

  Bank of England at a crossroad leaves interest rates on hold at 0.5%

  

  Bank of England's Monetary Policy Committee (MPC) has kept UK interest rates on hold at 0.5%, and unveiled no new quantitative easing (QE) measures.

• Saturday, September 11th 2010 - 18:22 UTC

  Developed nations slowdown “more pronounced than anticipated” says OECD

  

  The global economic recovery is slowing faster than forecast, but a return to recession is unlikely, a leading global economic group has said. The Organisation for Economic Co-operation and Development (OECD) said the slowdown had been more “pronounced than anticipated”.

• Friday, August 13th 2010 - 02:40 UTC

  UK faces “choppy recovery” in the next two years warns Bank of England

  

  The UK economy faces a “choppy recovery” over the next two years, the governor of the Bank of England, Mervyn King, has warned. His comments came as the Bank lowered its economic growth forecast and said inflation would stay higher for longer than previously forecast.

• Tuesday, June 29th 2010 - 05:04 UTC

  European crisis ‘key risk’ for UK banking sector, warns Bank of England

  

  The European debt crisis is a “key risk” to the UK's banking sector and banks should build up their cash reserves in response, the Bank of England has warned. In its latest financial stability report, the central bank welcomed recent measures taken by the EU to stem the crisis.