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Jan 15, 2013

Inflation sticks at 2.7 percent for 3rd month in December

LONDON (Reuters) – British inflation held at 2.7 percent for the third month running in December, while producer prices dipped below forecast as a rise in utility bills was offset by lower fuel costs.

Some analysts had feared a higher headline inflation number and financial markets on Tuesday took the figures as modestly reassuring for British consumers and for policymakers struggling to fend off recession.

Jan 15, 2013

Inflation sticks at 2.7 percent for third month

LONDON (Reuters) – British inflation held at 2.7 percent for the third month running in December, while producer prices dipped below forecast as a rise in utility bills was offset by lower fuel costs.

Some analysts had feared a higher headline inflation number and financial markets on Tuesday took the figures as modestly reassuring for British consumers and for policymakers struggling to fend off recession.

Jan 15, 2013

UK inflation sticks at 2.7 percent for 3rd month in Dec

LONDON, Jan 15 (Reuters) – British inflation held at 2.7
percent for the third month running in December, while producer
prices dipped below forecast as a rise in utility bills was
offset by lower fuel costs.

Some analysts had feared a higher headline inflation number
and financial markets on Tuesday took the figures as modestly
reassuring for British consumers and for policymakers struggling
to fend off recession.

Jan 10, 2013

BoE keeps policy on hold to await clearer signs on economy

LONDON (Reuters) – The Bank of England left its monetary policy settings unchanged on Thursday while it awaits clearer signals on the state of Britain’s economy and more news on the progress of a key scheme to boost lending.

After a two-day meeting, the BoE’s nine-member Monetary Policy Committee (MPC) said its main interest rate would stay at a record-low 0.5 percent and it would not buy any government bonds on top of the 375 billion pounds purchased so far.

Jan 10, 2013

UK statisticians unexpectedly reject inflation change

LONDON (Reuters) – Britain’s top statistician unexpectedly decided major changes to the country’s longest-running inflation index on Thursday, rejecting a move that could have significantly cut government borrowing costs.

Jil Matheson, the government’s top statistical adviser, concluded that the existing Retail Price Index did not meet current international standards. But she said it would be better to create a new index rather than fundamentally change RPI, which is written into many existing contracts.

Jan 10, 2013

Bank of England to start 2013 on sidelines as economy scrapes by

LONDON, Jan 10 (Reuters) – The Bank of England is likely to
withhold fresh monetary stimulus at the start of the new year,
with economic news still not bleak enough to trump worries about
stubborn inflation.

Last month the BoE voted 8-1 against extending its 375
billion pound ($601 billion) programme of bond purchases, and
none of the 60 economists polled by Reuters over the past week
expect a policy change after the Monetary Policy Committee
concludes its monthly meeting on Thursday.

Jan 9, 2013

UK goods deficit suggests trade slowed economy in Q4

LONDON (Reuters) – Britain’s goods deficit narrowed slightly in November but held above its average for the past year, raising the chance that trade activity in the last three months of 2012 dragged on economic growth.

The Office for National Statistics said on Wednesday that the goods trade gap shrank slightly less than expected to 9.164 billion pounds from October’s 9.487 billion pounds, as exports rose faster than imports.

Jan 9, 2013

UK goods deficit suggests trade slowed economy in fourth-quarter

LONDON (Reuters) – Britain’s goods deficit narrowed slightly in November but held above its average for the past year, raising the chance that trade activity in the last three months of 2012 dragged on economic growth.

The Office for National Statistics said on Wednesday that the goods trade gap shrank slightly less than expected to 9.164 billion pounds from October’s 9.487 billion pounds, as exports rose faster than imports.

Jan 4, 2013

Surprise fall in UK services activity raises recession risk

LONDON (Reuters) – Britain’s services sector shrank for the first time in two years in December, a survey showed on Friday, suggesting the broader economy contracted in late 2012 and could be headed for its third recession since the financial crisis.

The Markit/CIPS services Purchasing Managers’ Index (PMI) dropped to 48.9 in December – its lowest reading since April 2009 – from 50.2 in November, confounding many economists’ forecasts for a small rise.

Jan 3, 2013

Banks set to lend more helped by BoE scheme

LONDON (Reuters) – British banks plan to boost the supply of credit in the first quarter of 2013, a survey found, showing how a new Bank of England scheme is addressing a problem that many blame for holding back the economy.

Banks polled for the BoE’s quarterly Credit Conditions Survey said they would significantly increase the availability of mortgages in the first three months of 2013 after a record rise in the three months to December 11.

    • About Olesya

      "Olesya Dmitracova joined Reuters as a graduate trainee. She has spent a year in the Reuters Moscow bureau covering general and political news in Russia and the CIS. Since 2007 she’s been based in London, first as an investment banking reporter and since 2009, covering humanitarian crises and corruption issues worldwide for AlertNet and TrustLaw websites run by the Thomson Reuters Foundation. Before joining Reuters, Olesya had worked for the BBC World Service and regional media in Britain."
      Joined Reuters:
      2005
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