Tag: UK economy

• Monday, April 23rd 2018 - 08:41 UTC

  Bank of England likely to raise interest rates twice in 2018 and 2019

  

  The Bank of England is likely to raise interest rates twice this year and twice in 2019, despite a sluggish economy, says a forecasting body. Bank governor Mark Carney has said a rate rise is “likely” this year, but any increases will be gradual.

• Thursday, March 1st 2018 - 10:07 UTC

  Ex PM Major calls for a free vote in Parliament on any deal with the European Union

  

  Former British Prime Minister John Major called on Wednesday for a free vote in parliament on whether to reject any deal negotiated with the European Union, warning the current plans are “bad politics” that will damage the economy.

• Saturday, February 24th 2018 - 09:31 UTC

  EU leaders agree to spend more on defense and security, and squabble over UK funding losses

  

  EU leaders have agreed to spend more on common defense and security policy in their next long-term budget, said European Council President Donald Tusk. Leaders of 27 states were meeting in Brussels to shape the 2021-27 budget.

• Friday, February 23rd 2018 - 09:35 UTC

  UK economy grows at the slowest pace among world's wealthiest countries

  

  The UK economy expanded by less than previously thought in the last three months of 2017, official figures say. GDP grew by 0.4% in the October-to-December period, the Office for National Statistics (ONS) said, down from the initial estimate of 0.5%. The revision was due to slower growth in production industries, the ONS said.

• Thursday, February 22nd 2018 - 09:35 UTC

  Theresa May sets out proposals for post-Brexit transition period: Tories divided

  

  UK has published proposals for how it wants the transition period immediately after Brexit to work. It says the period should last as long as it takes to “prepare and implement the new processes and new systems”. Number 10 denied this meant it would be longer than the planned two years.

• Wednesday, February 21st 2018 - 09:19 UTC

  Brexit strategy suggestion to Theresa May from 62 Conservative MPs

  

  More than 60 Conservative MPs have signed a letter to Theresa May making a series of “suggestions” about the government's Brexit strategy. The letter from the European Research Group says the UK should be free to negotiate and sign trade deals with other countries as soon as it leaves.

• Friday, February 16th 2018 - 10:07 UTC

  Theresa May flies to Berlin to meet Merkel, ahead of crucial speech on Saturday

  

  Theresa May is due to hold talks with German Chancellor Angela Merkel as she seeks to make progress on negotiating Brexit. The PM will travel on Friday to Berlin for the meeting at the Chancellery. It comes a day ahead of a speech on Saturday in which she is expected to set out the “security partnership” she wants to maintain with the EU.

• Thursday, February 15th 2018 - 09:37 UTC

  For the first time in seven years, Euro-zone economy grew faster than UK in 2017

  

  For the first time in seven years, the Euro-zone's economy grew quicker than the UK's last year, according to data from Eurostat released on Wednesday. The preliminary growth estimates for the final quarter of 2017 showed the bloc of Euro nations growing at a combined 2.7% over the course of the year, having expanded 0.6% in the final quarter alone.

• Wednesday, February 14th 2018 - 09:10 UTC

  UK January inflation remains at 3%; slower food and raw materials prices

  

  United Kingdom inflation remained at 3% in January, the same level as in December, as reported by the Office for National Statistics, ONS. In November it was the six year high of 3.1% and most economists were expecting a small fall in the CPI to 2.9%.

• Friday, February 9th 2018 - 10:45 UTC

  Bank of England expects pace of interest rate increases to accelerate

  

  The Bank of England has indicated that the pace of interest rate increases could accelerate if the economy remains on its current track. Bank policymakers voted unanimously to keep interest rates on hold at 0.5% at their latest meeting. However, they said rates would need to rise “earlier” and by a “somewhat greater extent” than they thought at their last review in November. Economists think the next rate rise could come as soon as May.