Bank of England
This coverage analyses the Bank of England’s decisions and policies and their impact on the UK retail sector, focusing on interest rates, inflation, consumer spending, and economic forecasts. Reporting provides context on how monetary policy shapes retail performance, costs, and demand — offering insight for executives, managers, and professionals making strategic decisions in a shifting economic environment.
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Jan- 2019 -4 JanuaryComment
Carnage on the shop floor
The pressure on the retail sector has been a consistent staple for investors since the end of the financial crisis, partly as a result of changing shopping habits but also down to rising costs and outdated business models. This has been no better illustrated by the way UK consumers behaved…
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Nov- 2018 -1 NovemberEconomy
Bank of England puts hold on interest rates due to Brexit uncertainty
The Bank of England has placed interest rates on hold following growing uncertainty around Brexit. A vote to leave rates unchanged held by the bank’s Monetary Policy Committee (MPC) was in favour of leaving rates at 0.75% by 9-0. Financial markets are currently indicating that rates will not rise until…
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Aug- 2018 -13 AugustEconomy
Household spending drops 0.9% in July
Household spending dropped 0.9% in July due to “disappointing growth” in real earnings, according to Visas’ UK Consumer Spending Index. The quickest fall in spend was registered in retail categories, decreasing by 1.2% year-on-year, and ecommerce expenditure fell by 0.5% after a marginal rise during June (0.4%). According to the…
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Jul- 2018 -20 JulyEconomy
High street struggles drag sterling down to $1.30
The pound has been dragged down to $1.30 by declining high street footfall and the financial woes of a slew of retail brands. An increase in retail sales of 0.2% had been predicted by the Office for National Statistics (ONS), however statisticians were surprised by a fall of 0.5% in…
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5 JulyEconomy
England/Colombia World Cup win scores UK a £1.3bn economy boost
England’s penalty shootout victory against Colombia has given the UK economy a £1.33bn boost according to new figures. The figures from the Centre for Retail Research (CRR) show that the UK will benefit from a £2.72bn boost if England make the final. It is thought that the majority of the…
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Jun- 2018 -18 JuneEconomy
Bitcoin in retail could ‘bring the internet to a halt’
A new report from the Bank of International Settlements (BIS) in Switzerland has claimed Bitcoin would “bring the internet to a halt” if used as a mainstream payment method in the retail sector. The report also claimed that Bitcoin was a “poor substitute” for state-backed currency as the BIS says…
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Apr- 2018 -13 AprilAdvice
Retail finance should be celebrated, not feared
Let’s face it: consumer finance gets a bad rap. Only recently did UK Finance release figures showing that debt on UK credit cards is growing at the fastest rate since before the financial crisis. The stats show that the annual growth rate in outstanding credit card debt reached 8.3% in…
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Feb- 2018 -27 FebruaryEconomy
High street banks urged to continue taking in old £10 notes to ‘save’ retailers
Retailers are continuing to hand out old £10 notes despite them ceasing to be legal tender on 1 March 2018. However, the Bank of England has not asked shops to stop giving them as change, which could cause issues as £2bn effectively becomes unspendable. The British Retail Consortium said: “It…
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Jan- 2018 -18 JanuaryGovernment
Retailers warned the Darwin £10 note is almost extinct
The Bank of England has warned that it will withdraw legal tender status of the paper £10 note featuring Charles Darwin at 23:59 on Thursday 1 March 2018. With six weeks to go, all retailers that handle cash need to plan and prepare for the change. After the deadline, businesses…
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17 JanuaryEconomy
Inflation drops for the first time in 6 months
The inflation rate saw a slight dip in December, falling to 3%, according to figures released by the Office of National Statistics (ONS). The level of inflation, according to Consumer Price Index (CPI), was less than November’s rate of 3.1%, which was at its highest for six years. The high…
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