UK Economics Correspondent, London
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Nov 9, 2015

Ireland says facing major strategic risk from Brexit

LONDON (Reuters) – The prospect of Britain leaving the European Union is a major strategic risk for Ireland, which will back attempts by Prime Minister David Cameron to reform the bloc if the terms are realistic, Ireland’s leader said on Monday.

Cameron, who has promised to overhaul Britain’s EU ties ahead of a referendum on a membership by the end of 2017, is due to outline his demands in a letter to the President of the European Council on Tuesday, effectively kicking off the renegotiation process.

Nov 9, 2015

Ireland says will back reasonable proposals to avoid costly ‘Brexit’

LONDON (Reuters) – The prospect of Britain leaving the European Union is a major strategic risk for Ireland which will generally support a reasonable and achievable British pre-referendum renegotiation, Prime Minister Enda Kenny said on Monday.

His British counterpart David Cameron has promised to renegotiate Britain’s ties with the 28-nation bloc before a referendum , due by the end of 2017, on whether to stay a member.

Nov 9, 2015

Confederation of British Industry cuts 2016 UK growth forecast

LONDON, Nov 9 (Reuters) – The Confederation of British
Industry scaled back its forecast for economic growth next year,
saying on Monday that resilient domestic demand would not be
enough to outweigh the effects of a slowdown in emerging
markets.

The CBI reduced its 2015 growth forecast to 2.4 percent and
its 2016 forecast to 2.6 percent, both 0.2 percentage points
lower than its previous forecasts in August, though still a bit
better than average for the British economy.

Nov 6, 2015

Bank of England shies away from early 2016 rate rise

LONDON (Reuters) – The Bank of England made no move towards an early interest rate rise on Thursday, saying Britain’s near-zero inflation would pick up only slowly, even if borrowing costs stay on hold throughout next year.

Governor Mark Carney, who had previously said a decision on whether to raise rates would come into sharper focus around the end of this year, was vaguer this time, saying simply that the BoE would move when the time was right.

Nov 5, 2015

Bank of England sees little inflation pick-up, markets push back rate bets

LONDON, Nov 5 (Reuters) – The Bank of England gave no sign
that it was in any more of a hurry to raise interest rates on
Thursday, predicting near-zero inflation would pick up only
slowly even if borrowing costs stay on hold all of next year.

Sterling fell sharply after the BoE’s announcement, which
contrasted with the tone of the U.S. Federal Reserve, whose
chair Janet Yellen said on Wednesday that a U.S. rate rise was a
prospect for December.

Nov 5, 2015

Bank of England sees little inflation pick-up, rate-setters stick to positions

LONDON (Reuters) – The Bank of England gave no sign that it was in any more of a hurry to raise interest rates on Thursday, predicting near-zero inflation would pick up only slowly even if borrowing costs stay on hold all of next year.

The British central bank’s tone contrasts with that of the U.S. Federal Reserve, whose chair, Janet Yellen, said on Wednesday that a U.S. rate rise was a prospect for December.

Nov 5, 2015

Carney to signal if early 2016 rate rise is still on cards

LONDON (Reuters) – The prospect of an interest rate hike by the Bank of England early next year could be revived on Thursday when Governor Mark Carney presents the British central bank’s latest economic forecasts.

The BoE cut rates to a record low 0.5 percent in March 2009, around the nadir of the financial crisis, and has kept them there ever since.

Nov 5, 2015

Bank of England’s Carney to signal if early 2016 rate rise is still on cards

LONDON (Reuters) – The prospect of an interest rate hike by the Bank of England early next year could be revived on Thursday when Governor Mark Carney presents the British central bank’s latest economic forecasts.

The BoE cut rates to a record low 0.5 percent in March 2009, around the nadir of the financial crisis, and has kept them there ever since.

Nov 3, 2015

UK export growth hits six-year low – British Chambers of Commerce

LONDON (Reuters) – British exporters experienced the weakest growth in orders since the depths of the financial crisis in the three months to September, a survey showed on Tuesday, adding to signs that overseas demand has faltered.

The British Chambers of Commerce said firms taking part in its quarterly trade survey reported the most limited growth in overseas sales and orders since the second quarter of 2009, when Britain was coming to the end of its worst recession in decades.

Oct 29, 2015

British mortgage, retail sales data cast shade of doubt over economy

LONDON (Reuters) – British mortgage approvals fell for the first time in four months and retail sales growth softened, casting a shade of uncertainty over hopes that the economy will regain momentum in the final months of the year.

Thursday’s batch of data is unlikely to put Bank of England policymakers under fresh pressure to raise interest rates soon, especially after news this week that the economy slowed more than expected in the third quarter.

    • About David

      "David keeps a close watch on the UK economy, the Bank of England and the British government debt market. Previously he worked in Frankfurt, covering the European Central Bank and euro zone economy, and in Brussels where he reported on everything from EU summits to Belgian supermarkets."
      Languages:
      English, French, German
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