LONDON (Reuters) – Britain’s economy contracted even faster than previously thought at the end of last year after the first fall in household spending in 18 months, denting expectations for an imminent rise in interest rates.

Official data on Friday showed the economy shrank 0.6 percent between October and December, worse than an initial estimate of a 0.5 percent decline and against analysts’ forecasts for an unchanged reading.

LONDON (Reuters) – Britain’s economy contracted even faster than previously thought at the end of last year after the first fall in household spending in 18 months, denting expectations for an imminent rise in interest rates.

Official data Friday showed the economy shrank 0.6 percent between October and December, worse than an initial estimate of a 0.5 percent decline and against analysts’ forecasts for an unchanged reading.

LONDON (Reuters) – Bank of England rate-setter Andrew Sentance voiced open criticism of the bank’s economic forecasts on Thursday and said interest rates needed to rise faster than markets expect to bring inflation back to target.

The long-standing hawk, who has voted for higher interest rates since last June, highlighted the divisions on the BoE’s Monetary Policy Committee and made clear his frustration with the BoE’s forecasting process.

LONDON (Reuters) – Bank of England rate-setter Andrew Sentance voiced open criticism of the central bank’s economic forecasts on Thursday and said interest rates needed to rise faster than markets expect to bring inflation back to target.

The long-standing hawk, who has voted for higher interest rates since last June, highlighted the divisions on the Bank’s Monetary Policy Committee and made clear his frustration with the Bank’s forecasting process. “My judgement is that the upside risks to inflation are understated in the published fan charts. And monetary policy would most likely need to be tightened faster and by more than the markets currently expect to bring inflation back to target,” he told a conference in London.

LONDON (Reuters) – The number of Britons claiming unemployment benefit rose in January for the first time in four months against a background of slowing pay growth, official data showed on Wednesday.

Sterling fell and gilt futures rose on the figures which suggested Britain’s labour market was deteriorating even before the bulk of the government’s austerity measures take effect, while subdued wage growth suggested domestic inflation impulses are well under control.

LONDON (Reuters) – The number of people claiming unemployment benefit rose in January for the first time in four months against a background of slowing pay growth, official data showed on Wednesday.

The pound fell and gilt futures rose on the figures which suggested the labour market was deteriorating even before the bulk of the government’s austerity measures take effect, while subdued wage growth suggested domestic inflation impulses are well under control.

LONDON, Feb 15 (Reuters) – Inflation in Britain jumped to
twice the Bank of England’s target in January, prompting BoE
Governor Mervyn King to acknowledge that interest rates might
rise more rapidly than economists had expected.

Consumer price inflation surged to a two-year high of 4.0
percent from 3.7 percent in December, providing an awkward
backdrop for the central bank’s updated quarterly growth and
inflation forecasts on Wednesday.

LONDON (Reuters) – Inflation rose to double the Bank of England’s target in January, prompting BoE Governor Mervyn King to acknowledge on Tuesday that interest rates might rise more rapidly than previously expected.

Consumer price inflation surged to a two-year high of 4.0 percent from 3.7 percent in December, and set the stage for the BoE’s revised growth and inflation forecasts on Wednesday that will give investors a major steer on how close it is to raising its benchmark rate, currently at a record low 0.5 percent.

LONDON (Reuters) – Inflation in Britain rose to double the Bank of England’s target in January, increasing pressure on the central bank to raise interest rates despite a fragile economic recovery.

Consumer price inflation surged to an annual 4.0 percent — its highest in more than two years — from 3.7 percent in December, official data showed on Tuesday.

LONDON (Reuters) – Britain’s January inflation numbers will make difficult reading for the Bank of England at a time when its inflation-fighting credentials are increasingly coming into question.

Figures at 9:30 a.m. are forecast to show annual consumer price inflation surged to 4.0 percent from 3.7 percent in December, its highest level since November 2008 and double the central bank’s target.