UK Economics Correspondent, London
Andy's Feed
Aug 27, 2014
Aug 27, 2014
Aug 21, 2014
Aug 21, 2014

UK retail sales growth falls to 8-month low, public finances weak

LONDON, Aug 21 (Reuters) – British retail sales grew in July
at the slowest annual rate since November last year, while the
government failed to make major inroads into a looming overshoot
in public borrowing, data showed on Friday.

The figures add to signs that Britain’s consumer-led
recovery might be starting to slow, and leave the government
with a lot of catching up to do if it is to meet full-year
borrowing targets in the run-up to May’s national election.

Aug 21, 2014
Aug 21, 2014
Aug 20, 2014

BoE looks at shifting money market operations from crisis settings

LONDON, Aug 20 (Reuters) – Bank of England policymakers have
started to discuss how to end crisis-era measures which pegged
overnight money market rates to the central bank’s official
interest rate, the BoE said on Wednesday.

The news of high-level discussions about reforms to the
central bank’s money market operations – crucial to the way it
implements monetary policy – came in policy minutes which also
showed that two BoE officials broke ranks to vote for higher
interest rates this month.

Aug 20, 2014

Bank of England splits over rate hike for first time in three years

LONDON (Reuters) – Bank of England policymakers have broken ranks over interest rates for the first time in three years, with two of them unexpectedly voting to tighten policy, in a move that revives speculation about a 2014 rate hike.

Martin Weale and Ian McCafferty – external members of the BoE’s nine-member Monetary Policy Committee – voted to raise interest rates to 0.75 percent from 0.5 percent, according to minutes of the MPC’s Aug. 6-7 meeting released on Wednesday.

Aug 20, 2014
Aug 19, 2014

UK inflation falls more than expected, reduces chance of 2014 rate rise

LONDON (Reuters) – British inflation eased more than expected in July and the pace of house price growth slowed in June, according to data that underscored the Bank of England’s message that it is in no rush to hike interest rates.

Consumer prices rose 1.6 percent on the year in July, the Office for National Statistics said on Tuesday, down from a five-month high of 1.9 percent in June.