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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Nov- 2022 -3 NovemberEconomy
BoE raises interest rates to 3%
The Bank of England (BoE) has raised the base rate of interest to 3%, an increase of 0.75%, as it warned that the UK is set to face its longest recession since records began.ย At its meeting ending on 2 November 2022, the Bankโs MPC voted by a majority of…
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Oct- 2022 -3 OctoberSupermarkets
Morrisons faces ยฃ100m hit to borrowing costs amid debt pile up
Morrisons is facing a near-ยฃ100m hit to its borrowing costs amid market turmoil adding pressure on the supermarket chain. According to The Times, over half of the grocerโs longer-term debt is at a floating rate and it has no interest hedging in place. Ratings agency Moodyโs reportedly estimates that recent…
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Sep- 2022 -22 SeptemberEconomy
BoE raises interest rates to 2.25%
The Bank of England has today (22 September) announced that interest rates will be raised by 0.5%, with rates rising from 1.75% to 2.25%. The latest announcement from the Monetary Policy Committee (MPC) comes as inflation remains at record highs for the UK, and marks the seventh consecutive rise in…
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12 SeptemberEconomy
BoE delays interest rates decision
The Bank of England (BoE) has delayed its interest rates decision for one week, following the death of Queen Elizabeth II. The meeting of the Monetary Policy Committee, which was expected to further raise interest rates, is now expected to be held at 12pm on 22 September, in light of…
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Aug- 2022 -17 AugustFeatures
The business pledges of the Conservative leadership finalists
Business Rates On 9 August, the Retail Jobs Alliance, a coalition of retailers including Morrisons, Greggs and Tesco, called on both Sunak and Truss to pledge to cut business rates which are charged on most non-domestic properties, such as shops, offices, pubs, warehouses, factories, and holiday rental homes or guest…
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17 AugustEconomy
Inflation hits new 40-year high at 10.1%
Inflation has once again broken records with a new 40-year high recorded last month, as the Consumer Price Index (CPI) hit 10.1% in the 12 months to July 2022, up from 9.4% in June.ย According to the Office for National Statistics (ONS), the biggest contribution to this figure was rising…
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12 AugustAdvice
Supply chain: How to avoid price rows in inflationary times
Managing price negotiations with key suppliers can be challenging at the best of times, but with inflation at a record high and a cost of living crisis affecting households across the country, there is an increased risk of disputes arising. By working collaboratively however, both sides of the negotiating table…
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10 AugustEconomy
Heatwave helps boost retail sales 2.3% in July
Retail sales increased 2.3% in July as the heatwave experienced across the UK helped boost demand for โhot weather essentialsโ, according to the latest data from the BRC and KPMG retail sales monitor. UK retail sales increased 1.6% on a like-for-like basis from July 2021, when they had increased 4.7%.…
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9 AugustAnalysis
How luxury brands are turning to young consumers to boost sales
Despite the cost-of-living crisis having a firm grip on consumers, it seems that luxury brands are finding ways to retain and attract young customers through refreshing their campaigns, diversifying their offering and leaning into sustainable initiatives. Hugo Boss kicked off 2022 with โsocial-firstโ campaigns, for example, that made use of…
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8 AugustEconomy
Womenโs Euro and summer heatwave reduce online retail sales decline
Online retail sales growth dipped -2.3% year-on-year (YoY) in July 2022 as the Womenโs Euro final and the summer heatwave helped reduce the decline, according to the latest IMRG Capgemini Online Retail Index. While this is a continuation of the negative growth that has been consistent across 2022, it was…
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