UK Economics Correspondent, London
Andy's Feed
Dec 10, 2014
Dec 10, 2014

Poll – Government plans to slash state spending unrealistic, say economists

LONDON (Reuters) – Chancellor George Osborne’s plans to cut state spending to its lowest since the 1930s are unrealistic, according to a firm majority of economists polled by Reuters.

With less than five months before the next general election, Osborne last week sought to impress voters with new plans to put Britain’s budget back in the black before the end of the decade.

Dec 9, 2014

Factory output slides, but economy unlikely to slow much

LONDON (Reuters) – British manufacturing slumped unexpectedly in October after a strong September, but economists said the country’s economic recovery still looked set to slow only slightly at the end of 2014.

Sterling fell as data showed manufacturing production tumbled 0.7 percent, its first monthly decline since May, hit by a 4.5 percent fall in computer, electronic and optical products, possibly reflecting weak demand among German electronics firms.

Dec 5, 2014
via MacroScope

More Brits than ever have no idea where rates are going

So much for forward guidance. More Britons have no idea where interest rates are heading than since records began 15 years ago, according to the latest Bank of England/GfK NOP survey.

The poll of almost 2,000 people showed Britain’s public last month scaled back expectations that the Bank will raise rates from their record low 0.5 percent, where they’ve been for nearly six year. But there was a striking degree of uncertainty lurking underneath the headline findings:

Dec 5, 2014
Dec 5, 2014
Dec 5, 2014
Dec 4, 2014

Bank of England keeps rates on hold at record low

LONDON (Reuters) – The Bank of England kept interest rates at a record low on Thursday as policymakers gave more weight to the risks from low inflation and a weak global economic outlook than to a strong recovery at home.

The BoE’s Monetary Policy Committee, as expected, left its Bank rate at 0.5 percent, where it has been since the depths of the financial crisis nearly six years ago, and made no statement.

Dec 3, 2014

Treasury says will pay off World War One-era debt in full next March

LONDON (Reuters) – Britain will pay off all of its debt used to fund World War One next March, when it redeems a government bond first issued more than 80 years ago to help pay for the conflict.

The finance ministry said on Wednesday that it would redeem the 1.9 billion pound ($3 billion), 3.5 percent War Loan — a perpetual bond which means it has no fixed maturity date — on March 9 next year.

Dec 3, 2014