uk-economy
Top StoriesUK Borrows Higher-Than-Expected 17.4 Billion Pounds in October
BusinessRoyal Mail Owner Ids Returns to Profit but Warns on Cost Environment
Top StoriesUK Pay Growth Steady but Firms See Higher Costs Ahead, Brightmine Says
BusinessNissan Motor Urges UK to Ease Ev Targets Amid Weak Demand
UK Inflation Jumps to 2.3%, Underscoring BoE’s Stance for Gradual Rate Cuts
Date: November 20, 2024
By William Schomberg and David Milliken LONDON (Reuters) -British inflation jumped by more than expected last month to rise back above the Bank of England’s 2% target and underlying price growth gathered speed too, showing why the BoE is moving cautiously on interest rate cuts. Consumer prices rose by an annual 2.3% in October, pushed...
UK Inflation Could Undershoot Forecasts, Requiring Faster Rate Cuts, BoE’s Ramsden Says
Date: November 20, 2024
By David Milliken LONDON (Reuters) – British inflation is at least as likely to undershoot the Bank of England’s latest forecasts as it is to match them, potentially requiring faster rate cuts, Deputy Governor Dave Ramsden said on Wednesday. Ramsden voted for the BoE to start cutting rates in May – three months before a...
UK House Prices Rise at Fastest Pace Since Feb 2023, Ons Says
Date: November 20, 2024
LONDON (Reuters) – British house prices rose at the fastest pace since February 2023 in the 12 months to September, figures from the Office for National Statistics showed on Wednesday. The average house price in the United Kingdom in September was 2.9% higher than a year earlier at 292,000 pounds ($370,000), accelerating from a 2.7%...
London Stocks Subdued After Hot Inflation Data; Sage Soars
Date: November 20, 2024
(Reuters) – UK’s FTSE indexes were subdued on Wednesday, as hotter-than-expected inflation data tempered expectations for quick interest rate cuts, and overshadowed optimism around software company Sage’s upbeat quarterly profit. The export-focused FTSE 100 edged up 0.07%, with the technology sector surging 6.9% to touch a record high. Sage Group reported a better-than-expected 21% rise...
Sterling Jumps After Data Shows UK Inflation Tops 2%
Date: November 20, 2024
By Amanda Cooper LONDON (Reuters) -Sterling jumped on Wednesday after data showed UK consumer inflation accelerated more quickly than forecast in October, supporting the view that the Bank of England will lower interest rates gradually in the coming months. An anticipated rise in energy bills last month pushed up the annual rate of inflation to...
UK Energy Regulator Eyes up to $10.2 Billion Fund to Aid Green Targets
Date: November 20, 2024
(Reuters) -Britain’s energy regulator Ofgem said on Wednesday it had begun consultations over a new investment fund of up to 8 billion pounds ($10.16 billion) that could help the country’s net zero prospects and aid energy transmitters to cut delays and costs. The proposed fund, worth between 5 billion pounds and 8 billion pounds, would...