Bank of England
This coverage analyses the Bank of Englandโs 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 โ offering insight for executives, managers, and professionals making strategic decisions in a shifting economic environment.
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Feb- 2025 -13 FebruaryEconomy
Economy unexpectedly grows by 0.1% in Q4
Britainโs economy unexpectedly grew in the final quarter of 2024, according to new figures from the Office for National Statistics, easing pressure on chancellor Rachel Reeves.Gross domestic product (GDP) rose by 0.1% in the fourth quarter of 2024, after zero growth the previous quarter, beating forecasts of economists and the…
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6 FebruaryEconomy
BoE cuts interest rates to 4.5%
The Bank of England (BoE) has voted to cut interest rates from 4.75% to 4.5%, the lowest level since June 2023, but warned that GDP growth has been โweaker than expectedโ. At its meeting this week, the bankโs monetary policy committee voted by a majority of 7โ2 to reduce the…
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Jan- 2025 -16 JanuaryEconomy
UK economy narrowly returns to growth in November
The UK economy narrowly returned to growth in November as real gross domestic product (GDP) increased 0.1%, largely because of a growth in services. The increase comes after two consecutive months of decline, however, real GDP is estimated to have shown no growth in the three months to November 2024,…
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15 JanuaryNews-In-Brief
Today’s news in brief-15/1/25
Inflation in the UK unexpectedly fell to 2.5% in December, marking its first decline in three months, according to the ONS. The decrease, attributed to reduced hotel and tobacco prices despite rising fuel costs, exceeded expectations, as analysts had predicted inflation would remain steady at 2.6%. While inflation remains above…
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15 JanuaryEconomy
Inflation unexpectedly falls to 2.5% in December
The rate of Consumer Price Index inflation unexpectedly fell one percentage point to 2.5% in December, dipping for the first time in three months, according to the Office for National Statistics (ONS).ย It comes as hotel prices fell and tobacco costs eased, which have been credited with helping offset a…
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Dec- 2024 -19 DecemberEconomy
BoE holds interest rates at 4.75%
The Bank of England (BoE) has voted to hold interest rates at 4.75%, following a recent hike in both inflation and wage growth.ย At its meeting this week, the bankโs monetary policy committee voted by a majority of 6โ3 to maintain the current rate. Three members voted to reduce interest rates…
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18 DecemberEconomy
Inflation hits eight-month high of 2.6% in November
Inflation has risen for the second month in a row, rising to 2.6% in November, up from 2.3% the previous month, marking the highest level of inflation in eight months.ย According to the Office for National Statistics, the main drivers behind the rise were fuel and clothing, where prices rose this…
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Nov- 2024 -20 NovemberNews-In-Brief
Today’s news in brief-20/11/24
Ted Baker has re-entered the online retail scene with a UK-exclusive ecommerce platform following its financial collapse earlier this year. The site is operated by United Apparel and Legwear (ULAC), appointed by Authentic Brands Group, which owns the brand. European versions are in development. This marks a strategic pivot after…
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20 NovemberEconomy
Energy bills push inflation to 2.3% in October
The rising cost of energy has pushed inflation up to 2.3% in October, above consensus forecasts of 2.2%, according to the latest figures from the Office for National Statistics (ONS). The figure is up from the 1.7% posted in September and is also above the desired level of 2% set…
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7 NovemberEconomy
Bank of England cuts interest rates to 4.75%
The Bank of England has cut interest rates for the second time this year, with rates now cut to 4.75%.ย The bank voted by a majority of 8โ1 to reduce Bank Rate by 0.25 percentage points to 4.75%. One member preferred to maintain the previous rate of 5%. It had previously…
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