Category archives: News in Review

“The UK economy is holding up but remains in a precarious state” The most recent data from the Office for National Statistics (ONS) highlighted a modest 0.2% expansion in August, following a sharp 0.6% reduction in July. The monthly growth was in line with expectations from a Reuters poll of economists. Contributors to the growth […]

“Our job is to get inflation down” At its meeting last week, the Bank of England’s Monetary Policy Committee (MPC) narrowly voted to maintain Bank Rate at 5.25%, ending a run of 14 consecutive increases. Five members voted to keep the rate at 5.25%, while the four dissenting voices all favoured another 0.25% increase to […]

“The broader picture looks more positive, with the economy growing across the services, production and construction sectors in the last three months” Latest official figures from the Office for National Statistics (ONS) estimate that the UK economy contracted by 0.5% in July. The reduction was higher than the 0.2% decline which had been forecast by […]

“Inflation has fallen rapidly over the past six months” The latest inflation data from the Office for National Statistics (ONS) has shown that the Consumer Prices Index (CPI) measured 6.8% in the 12 months to July 2023, down from 7.9% in June, the lowest rate since early 2022. Prime downward contributors during the month derived […]

“This is good news… we are making progress” Last Friday, newly released data from the Office for National Statistics (ONS) revealed a better-than-expected uplift in UK economic growth. The UK’s gross domestic product (GDP) rose by 0.5% on a monthly basis in June, beating market expectations of a 0.2% rise. This higher growth rate, the […]

“Inflation is falling and that’s good news” Last Thursday, the Bank of England’s (BoE) Monetary Policy Committee (MPC) voted to increase Bank Rate to 5.25%, a fourteenth consecutive rise that has taken Bank Rate to its highest level in 15 years. At the MPC meeting, the nine-member committee was split three ways, with six voting […]

‘A resilient financial sector’ Interest rates in the UK will need to stay higher for longer than previously forecast to tackle inflation, the International Monetary Fund (IMF) warned last week, despite improvements in the country’s economic outlook since the start of 2023. With cheaper energy, better relations with the European Union and calmer financial markets, […]

“Inflation is falling and stands at its lowest level since last March” Last week, official data released by the Office for National Statistics (ONS) revealed that inflation in the UK fell further than expected in June to settle at 7.9%, down from 8.7% a month earlier and its lowest point since March 2022. The ONS […]

“Our plan will work, but we must stick to it” Official figures released last week by the Office for National Statistics (ONS) showed that UK gross domestic product (GDP) contracted by 0.1% in May. Analysts pointed to the additional bank holiday for the coronation as a key factor in this decline. By falling into reverse, […]

“British pensioners should benefit from British business success”  Chancellor Jeremy Hunt announced a package of reforms designed to boost pensions and increase investment in British businesses, in his first Mansion House speech which took place on Monday evening. He stated that the Mansion House Reforms aim to secure the best possible outcome for pension savers, […]