Category archives: News in Review

“If you look at recessions going back to the 1970s, this is the weakest by a long way” Last week, Bank of England (BoE) Governor, Andrew Bailey, indicated that the UK recession may already be over, citing “distinct signs of an upturn.” Comparing current conditions to historical downturns, Mr Bailey commented, “If you look at […]

“This is the fourth consecutive month that house prices have risen” Last week the latest data from the Halifax House Price Index for January showed that the average house price increased by 1.3% in the month, the fourth consecutive monthly rise. The average home in the UK now costs £291,029. The pace of annual growth […]

“Things are moving in the right direction” Last week, during their first meeting of 2024, the Bank of England’s (BoE’s) Monetary Policy Committee (MPC) voted to retain Bank Rate at 5.25% by a majority of six to three. Two members of the committee preferred to increase the rate by 0.25 percentage points, to 5.5%, with […]

“Inflation may give us a slightly bumpy ride during the next couple of months” Last week, data from the Office for National Statistics (ONS) showed the UK’s annual inflation rate, as measured by the Consumer Prices Index (CPI) increased by 4% in the year to December. An unexpected uptick from the 3.9% reading in November, […]

“The traditional retailers always tend to do well in the run up to Christmas and this year was no exception” There was good news for supermarkets last week, as new data from market research firm Kantar showed they experienced their busiest Christmas in four years. During the four-week period to Christmas Eve, Britons made 488 […]

“With inflation more than halved we are starting to remove inflationary pressures from the economy” Latest inflation data from the Office for National Statistics (ONS) revealed that the Consumer Prices Index (CPI) reduced to 3.9% in the year to November 2023, down from 4.6% recorded in the previous month. Now at a two-year low, the […]

“This balanced proposal provides much-needed predictability and stability to EU car and battery makers at a time of fierce global competitive pressure” Last week the European Commission proposed a three year postponement on the imposition of tariffs on electric vehicles (EVs) traded between the UK and the EU. Originally agreed as part of the Brexit […]

“A critical turning point” World leaders gathered in Dubai, United Arab Emirates (UAE), last Thursday for the 28th United Nations climate change conference (COP28). At the invitation of UAE President, Sheikh Mohamed bin Zayed Al Nahyan, King Charles addressed heads of state, leaders of governments and delegates at the opening ceremony. The King called on […]

“We are beginning to win the battle against inflation” Some positive economic news was delivered last week in the form of better-than-expected inflation data for October. The latest official release from the Office for National Statistics (ONS) revealed that in the 12 months to October, the Consumer Prices Index (CPI) rose by 4.6%, down from […]

“AI will bring new knowledge, new opportunities for economic growth… and the chance to solve problems we once thought beyond us” Ahead of this week’s first ever Artificial Intelligence (AI) Safety Summit at Bletchley Park, Rishi Sunak delivered a speech last Thursday on the global responsibility required to address and build a shared understanding of […]