BoE
This coverage analyses the Bank of England’s monetary policy decisions and regulatory actions impacting the UK retail sector. Reporting focuses on interest rate adjustments, inflation forecasts, and regulatory reforms—such as the Prudential Regulation Authority’s initiatives to enhance competitiveness and growth. Insights are tailored for retail executives, financial planners, and professionals navigating the interplay between central banking policies and retail industry performance.
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Nov- 2024 -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%. The bank voted by a majority of 8–1 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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Sep- 2024 -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 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 -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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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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21 JuneNews
Today’s news in brief-21/6/24
UK retail sales saw a notable increase of 2.9% in May 2024, reversing a 1.8% decline in April. According to the Office for National Statistics, sales volumes rose across various sectors, with clothing retailers and furniture stores rebounding after poor weather in April. Over the three months to May 2024,…
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21 JuneEconomy
BoE decision a ‘blow for Gen Z spending’, says RSM UK
The economic impact of high interest rates is set to hit Gen Z spending for the next 12 months, “prolonging the challenge for retailers and hospitality businesses as discretionary spend gets squeezed”, according to accountancy firm RSM. A survey of 2,000 consumers conducted on behalf of RSM UK shows Gen…
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20 JuneEconomy
BoE holds interest rates for 7th consecutive month
Interest rates have remained unchanged at 5.25% for the seventh consecutive month, the Bank of England has announced. The bank’s MPC voted by a majority of 7–2 to maintain the rate, despite inflation hitting its target and falling to 2% in May. UK inflation hit its target for the first time…
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Sep- 2023 -21 SeptemberEconomy
Bank of England keeps interest rates unchanged at 5.25%
Following 14 straight rate rises, the Bank of England (BoE) has kept interest rates unchanged at 5.25%. At its latest meeting, the Monetary Policy Committee (MPC) voted by a slim majority of 5–4 to maintain the current rate, though four members preferred to increase the rate to 5.5%. The MPC…
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Aug- 2023 -3 AugustEconomy
BoE raises interest rates to 5.25%
The Bank of England (BoE) has raised interest rates for the 14th consecutive time to 5.25% in a bid to combat inflation. The bank’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target. At its meeting ending on 2 August 2023, the MPC voted by a…
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