Category archives: News in Review

“Geopolitical concerns are very serious”  Last Thursday, Bank of England (BoE) Governor Andrew Bailey spoke in an interview about the pace at which interest rates are being cut. With two more Monetary Policy Committee (MPC) meetings this year, the Governor said the Bank could afford to be “a bit more aggressive” with its rate reduction […]

‘The global economy is starting to turn the corner’  Last week the Organisation for Economic Co-operation and Development (OECD) released its latest forecast, which outlines global growth prospects of 3.2% both this year and next. In its interim economic outlook, the well renowned think tank concluded, ‘The global economy is turning the corner as growth […]

“I’ve been really clear that the Budget… will require difficult decisions”  Last week, Chancellor Rachel Reeves, who faced criticism over the Winter Fuel Payment vote, said the Budget on 30 October is set to involve “difficult decisions,” on key areas such as spending, tax and welfare.   Her cautionary tone came hot on the heels of […]

“While the UK economy will perform better this year, it’s unlikely to be heading into the fast lane any time soon”  The UK economy will now grow at a faster rate than previously thought in 2024, according to a report by the British Chambers of Commerce (BCC) released last week.  The upgrade to 1.1% for […]

“Shop prices fell into deflation for the first time in nearly three years”  Fashion retailers trying to shift stock through summer sales helped shop prices to record their first annual fall for nearly three years, according to research from the British Retail Consortium (BRC).  Prices in August were down 0.3% from a year ago, the […]

“We can get through this together”  In a speech from the Downing Street Rose Garden on Tuesday, the Prime Minister told an audience of voters he met along the campaign trail that, while his government may not get everything right, everything it does will be with them in mind.  Keir Stamer said he intends to […]

“The UK economy has now grown strongly for two quarters”  The UK’s economy grew by 0.6% between April and June, according to the latest gross domestic product (GDP) figure released by the Office for National Statistics (ONS) on Thursday.  After slipping into recession at the end of last year, analysts now say the UK economy […]

“The construction sector appears to be in the early stages of a strong recovery”  The release last week of a closely watched construction survey offered optimism for the sector and further evidence of the UK’s economic recovery.  The S&P Global UK Construction Purchase Manager’s Index, a seasonally adjusted measure of activity in construction, jumped to […]

“Inflationary pressures have eased enough that we’ve been able to cut interest rates”   Last week, the Bank of England’s (BoE’s) Monetary Policy Committee (MPC) voted by a narrow majority of 5 – 4 to reduce Bank Rate by 0.25%, to 5%. Four committee members expressed a preference to maintain it at 5.25%.   This is the […]