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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Oct- 2024 -16 OctoberNews-In-Brief
Today’s news in brief-16/10/24
Inflation in the UK has dropped to 1.7% in September, marking its lowest level in over three years, down from 2.2% in August. This decline, driven largely by falling airfares and petrol prices, is below the Bank of Englandโs 2% target, which may result in pressure to lower interest rates.…
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16 OctoberEconomy
Inflation falls to lowest rate in over three years
UK inflation fell to 1.7% in September, down from 2.2% in August, marking the lowest rate in over three years.This means inflation is now below the Bank of Englandโs 2% target, meaning the bank may face pressure to cut interest rates next month. According to the Office for National Statistics,…
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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 ยฃ120m 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 ยฃ1.7m loss amid Red Sea stock delays
DFS has reported a loss before tax of ยฃ1.7m for the year ended 30 June due to โrecordโ low market demand and Red Sea shipping disruption deferring sales and profits to future periods. By June 2024, adjusted profit before tax stood at ยฃ10.5m, having fallen ยฃ20.1m year-on-year to below DFSโ…
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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 โsustain growth and employmentโ.…
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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 Englandโs 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. Itโs 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. Itโs 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 5โ4 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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