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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Sep- 2024 -25 SeptemberNews
Today’s news in brief-25/9/24
Asos, facing significant financial challenges, has initiated consultations to potentially cut over 200 jobs at its head office. The move comes amidst a restructuring aimed at reversing recent heavy losses, including a £120m increase in half-year losses and an 18% decline in sales. Asos plans to streamline operations and focus…
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25 SeptemberDIY
DFS swings to £1.7m loss amid Red Sea stock delays
DFS has reported a loss before tax of £1.7m for the year ended 30 June due to “record” low market demand and Red Sea shipping disruption deferring sales and profits to future periods. By June 2024, adjusted profit before tax stood at £10.5m, having fallen £20.1m year-on-year to below DFS’…
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19 SeptemberEconomy
BoE holds interest rates at 5%
The Bank of England (BoE) has decided to hold interest rates at 5% this month, having lowered them for the first time in four years in August. The bank voted by a majority of 8-1 to keep the rate the same in a bid to help “sustain growth and employment”.…
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18 SeptemberNews
Today’s news in brief-18/9/24
UK inflation held steady at 2.2% in August, unchanged from July and slightly above the Bank of England’s 2% target. The stability came despite falling food and energy prices, offset by a 1.2% rise in transport costs, driven notably by a 22.2% increase in air fares. Clothing and retail prices…
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18 SeptemberEconomy
Inflation holds steady at 2.2% in August
The rate of inflation remained steady at 2.2% in August, unchanged since July, yet is still above the Bank of England’s target of 2%.Although food and energy prices continued to fall over the month, this was in part offset by transport, where prices rose by 1.2% in the month. This…
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Aug- 2024 -23 AugustFeatures
Breaking barriers: How independent retailers can overcome financial hurdles
Starting a shop is more than just a commercial endeavour. It’s a chance for creative individuals to realise their vision and add unique value to local communities. From handmade crafts and bespoke homeware to curated fashion, the opportunities for independent retailers are vast. It’s no surprise that more than a…
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1 AugustEconomy
BoE cuts interest rates for first time in 4 years
The Bank of England (BoE) has cut interest rates for the first time in four years, with the rate falling to 5%. The bank voted by a majority of 5–4 to reduce the rate by 0.25 percentage points to 5%, marking the first fall in inflation since March 2020, where…
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Jul- 2024 -11 JulyNews
Today’s news in brief-11/7/24
The UK economy surpassed expectations with a 0.4% GDP growth in May 2024, boosted by improved weather conditions. The services sector led growth, expanding by 0.3%, while construction grew by 1.9%. Analysts see this growth influencing the Bank of England’s upcoming interest rate decision. British entrepreneur Mike Jatania is nearing…
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11 JulyEconomy
UK economy beats expectations as GDP jumps 0.4%
UK gross domestic product (GDP) beat expectations in May, increasing 0.4%, as a result of better weather, according to data from the Office for National Statistics (ONS). An unseasonably wet April dented consumer sentiment and hurt construction leading to the slight increase. Construction grew at the fastest rate in almost…
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Jun- 2024 -25 JuneNews
Disposable income for low-earning households hits 3-year high, Asda finds
Disposable income for low-earning households hit a near three-year high in May, following a 12.6% increase year-on-year, Asda’s income tracker has revealed. Despite this increase, budgets for these families remain under pressure in real terms, as their take home pay was still not enough to cover bills and essential spending,…
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