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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Aug- 2022 -5 AugustGovernment
UK recession can be averted, claims Truss
In an interview with Sky Newsโs Kay Burley last night (4 August), foreign secretary Liz Truss claimed she could avert a recession if she wins the leadership contest. The claim comes after the Bank of England projected that the UK would enter a recession in this yearโs fourth quarter, with…
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4 AugustEconomy
BoE hikes rates to 1.75%, warns UK to enter recession until 2024
The Bank of England (BoE) has raised interest rates from 1.25% to 1.75%, marking the biggest rise in rates since 1995. In its latest announcement, the BOE also projected that the UK would fall into a recession in the fourth quarter of the year, which is expected to last for…
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Jun- 2022 -16 JuneEconomy
BoE raises interest rates to 1.25%
The Bank of Englandโs (BoE) Monetary Policy Committee has voted to raise interest from 1% to 1.25% – marking its fifth rise in a row as it bids to offset the impact of rising inflation. The Monetary Policy Committee voted by a majority of 6-3 to increase the rate to…
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May- 2022 -20 MayEconomy
Consumer confidence drops to lowest level since 1974
UK consumer confidence has fallen to its lowest level since records began in 1974, according to the latest figures from GfKโs long-running Consumer Confidence Index. For the month of May, the index decreased by a further two points to -40 as four of the five measures that make up the…
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11 MayEconomy
Rising cost of living dents April retail sales
Retail sales decreased by 0.3% in April compared with the year prior, marking the first decline in 15 months as the rising cost of living starts to affect shoppers’ spending habits.ย According to the latest data from the British Retail Consortium (BRC) and KPMGโs retail sales monitor covering the four…
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5 MayNews
BoE raises interest rates to highest level since 2009
The bank of England (BoE) has raised interest rates to its highest level since 2009 – marking the fourth time it has taken action since December.ย The new rate of 1%, up from 0.75%, is the BoEโs latest attempt to curb the rampant rise in inflation – also at its…
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Mar- 2022 -31 MarchEconomy
UK GDP rebounds 1.3% in Q4 FY21
The UKโ gross domestic product (GDP) is estimated to have increased by 1.3% in the fourth quarter (Q4) of 2021 between October to December, meaning UK GDP is now 0.1% below pre-Covid levels. Annual GDP in 2021 is now estimated to have increased by a revised 7.4% compared to the…
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17 MarchEconomy
BoE raises interest rates to 0.75%
The Bank of England has raised interest rates back to the pre-pandemic level of 0.75% as it tries to mitigate the effect of the rising costs of living and the impact that the conflict in Ukraine is having on the global economy. The Monetary Policy Committee (MPC) voted with a…
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2 MarchEconomy
UK retail prices rise to highest rate since 2011
Retail price annual inflation accelerated to 1.8% in February, up from 1.5% in January, marking the highest rate of inflation since November 2011, according to the British Retail Consortium (BRC) and NielsenIQ. The BRC said that food inflation remained the โkey driverโ behind the price rises. Food inflation remained unchanged…
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Feb- 2022 -3 FebruaryEconomy
BoE raises interest rates to 0.5%
The Bank of England (BoE) has raised interest rates for the second time in three months to 0.5%, up from 0.25% previously. The BoE Monetary Policy Committee (MPC) confirmed it voted by a majority of 5-4 to increase Bank Rate by 0.25 percentage points, to 0.5%. Interestingly, it revealed those…
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