William's Feed
Jul 29, 2014

UK mortgage approvals turn around

LONDON (Reuters) – British mortgage approvals rose for the first time in five months in June, suggesting lenders were getting back into their stride after the introduction of more stringent tests for borrowers earlier this year.

The Bank of England, which is keeping a close eye on Britain’s fast-recovering housing market, said mortgage approvals jumped 8 percent from May to 67,196 last month.

Jul 29, 2014

UK mortgage approvals turn around, jump 8 pct in June

LONDON, July 29 (Reuters) – British mortgage approvals rose
for the first time in five months in June, suggesting lenders
were getting back into their stride after the introduction of
more stringent tests for borrowers earlier this year.

The Bank of England, which is keeping a close eye on
Britain’s fast-recovering housing market, said mortgage
approvals jumped 8 percent from May to 67,196 last month.

Jul 28, 2014

IMF says UK interest rates should stay low for now

LONDON, July 28 (Reuters) – The Bank of England won backing
from the International Monetary Fund on Monday for keeping
interest rates low, even as the IMF welcomed signs that
Britain’s surprisingly strong economic recovery is broadening.

In a report that will please finance minister George
Osborne, who last year clashed with the Fund over his policies,
the IMF said the government had struck the right approach to
bringing down Britain’s budget deficit, although it might have
to consider raising more tax revenues in future.

Jul 25, 2014

Britain’s recovery pushes economy past pre-crisis peak

LONDON (Reuters) – Britain’s economy is now bigger than it was before the financial crisis struck six years ago after strong growth in the second quarter that keeps it on track to lead the way among developed countries this year.

The return to its pre-crisis size comes years after other major economies passed the same landmark but will be a relief for the government ahead of a national election in 2015.

Jul 24, 2014

Britain’s economy set, finally, to recover ground lost to crisis

LONDON, July 25 (Reuters) – Britain’s economy is set to pass
a landmark on Friday when official data will probably show that
it is bigger than it was before the financial crisis struck six
years ago.

Gross domestic product is expected to have kept up the same
strong pace as in the first three months of the year, expanding
by 0.8 percent in the April-June period, according to a Reuters
poll of economists.

Jul 24, 2014

UK retail sales hit 10-year high in second quarter, but stagnate in June

LONDON (Reuters) – British retail sales rose between April and June at the fastest pace for a calendar quarter in 10 years despite stagnating last month, bolstering expectations that the economy has sustained its swift pace of recovery.

Retail sales volumes rose 1.6 percent in the second quarter compared with the previous three months, a latest sign of strength in Britain’s economy which has put a first interest rate hike on the agenda of the Bank of England.

Jul 24, 2014

UK retail sales hit 10-year high in Q2, but stagnate in June

LONDON, July 24 (Reuters) – British retail sales rose
between April and June at the fastest pace for a calendar
quarter in 10 years despite stagnating last month, bolstering
expectations that the economy has sustained its swift pace of
recovery.

Retail sales volumes rose 1.6 percent in the second quarter
compared with the previous three months, a latest sign of
strength in Britain’s economy which has put a first interest
rate hike on the agenda of the Bank of England.

Jul 23, 2014

Bank of England eyes wage puzzle as it mulls when to raise rates

LONDON (Reuters) – Bank of England officials discussed in July whether there was a case for an early rate rise to cool Britain’s economy, but were held back in part by strikingly low wage growth and signs of weakness abroad.

The nine members of the Monetary Policy Committee were unanimous when they voted to keep interest rates on hold at their July 9-10 meeting, as forecast by a Reuters poll.

Jul 22, 2014

UK June public finances show government slipping off target

LONDON (Reuters) – Britain’s public finances showed a bigger than expected deficit in June, continuing a weak start to the tax year and leaving Chancellor George Osborne with a lot of catching up to do to meet his fiscal goals.

The government failed to reduce public borrowing during the first three months of the 2014/15 fiscal year, possibly limiting its ability to offer any tax cuts or other voter-friendly surprises ahead of a national election in May next year.

Jul 16, 2014

British pay growth slows to record low even as jobless rate falls

LONDON (Reuters) – British workers’ earnings grew at the slowest rate on record in the three months to May, one gauge showed, even as unemployment fell further, giving the Bank of England pause for thought as it prepares to start raising interest rates.

Official data released on Wednesday showed earnings excluding bonuses rose by an annual 0.7 percent in the three months through May.