UK Economy - Results from #360

31 January 2023 Bank of England: 25bp Hike More Likely Following Sharp Drop in Lending Figures

If the purpose of raising interest rates is to slow lending in order to bring down inflation, then the Bank of England will be confident the actions it took in 2022 are doing the job.

27 January 2023 Hunt Delivers "A Lecture, Not a Plan"

Chancellor Jeremy Hunt has attempted to lay out an optimistic vision for the UK economy but industry reactions say his speech lacked the detail required to shift the dial on a pessimistic outlook.

24 January 2023 Pound Pressured as PMI Figures Herald the Start of a Delayed Recession

The British Pound fell after PMI data showed the UK economy slowed faster than expected in January in an outcome that contrasted unfavourably with surprisingly strong Eurozone figures.

20 January 2023 Pound Sterling "Fairly Valued" against Euro as UK Current Account Deficit Nears Sustainability: Barclays

UK current account back to equilibrium levels, leaving GBP fairly priced vs. EUR.

18 January 2023 Boost for Sterling as Core Inflation Surprise Pressures Bank of England to Hike 50bp in February

The British Pound held recent gains against the Euro and Dollar following official data that showed a slight downturn in headline UK inflation remains elevated in double-digit figures.

17 January 2023 Pound Sterling Up against Euro and Dollar Following Strong Wage, Employment Data

The UK economy added more jobs than expected in November while wages grew faster than expected, maintaining pressure on the Bank of England to continue raising interest rates.

06 January 2023 UK House Price Fall Could Exceed 12%: Reaction to Halifax Data

Halifax has reported a 1.5% month-on-month decline in UK house prices, lowering the 2022 increase in house prices to 2.0%.

14 December 2022 Lower Inflation is Good the Pound

UK CPI inflation came in below analyst estimates when released mid-week, resulting in a softer Pound Sterling.

13 December 2022 UK Labour Market Slackens, Bringing an End of the Bank of England Rate Hiking Cycle Closer

Signs emerging the labour market is developing some slack will mean the end of the cycle is now in sight.

12 December 2022 Pound Sterling Supported, GDP Data Beats Expectations at Start of Eventful Week

UK economic growth data came in stronger than analysts were expecting when released on Monday, offering the Pound some sideline support at the start of what promises to be a pivotal week.

09 December 2022 Bank of England: Inflation Expectations Stubbornly Elevated

Inflation expectations are back at nine-year highs according to a Bank of England survey, maintaining pressure on the central bank to pursue higher interest rates.

01 December 2022 House Prices: 8-12% Decline Forecast by Economists

New data shows UK house prices are falling and economists say this is just the start.

30 November 2022 UK Business Confidence Plumbs New Lows, Price Hiking Pressures Continue to Build

UK business confidence plumbed new lows in November and more firms intend to hike prices says Lloyds Bank.

29 November 2022 UK Savings Boom Continues as Interest Rates Rise and Consumers Retreat

Bank of England statistics reveal an increase in the amount of money saved by earners, while credit lending is below longer-term averages and mortgage approvals are falling in response to higher in…

23 November 2022 Pound to Euro Rate Extends Gains, PMIs Suggest Gloom is Stabilising

The UK economy shrunk in November according to the latest S&P Global PMI readings, however business expectations for the year ahead rebounded from a 30-month low.

22 November 2022 "Peak Stress" is Now Behind the Pound as Government Borrowing Undershoots

UK government borrowing figures came in well below expectations on Tuesday, and this will further aid sentiment towards the British Pound say analysts.

16 November 2022 Pound Sterling: Surging Inflation Undermines Recent Gains against the Euro and Dollar

GBP fell following some hotter-than-expected UK inflation data that suggested the Bank of England could not yet afford to quit its interest rate hiking cycle.

15 November 2022 Pound Sterling: UK Jobs Market is Turning, But Bank of England Can't Afford to Rest

GBP was higher following reports UK wages came in stronger-than-expected in the UK's latest set of labour market statistics, but there are clear signs the market is cooling as the unemployment rate…

11 November 2022 Pound Sterling Holds Large Gains against Euro and Dollar Despite News UK Economy Shrunk in September

The British Pound held its Thursday gains against the Dollar, Euro and other major currencies following the release of UK GDP data on Friday that showed the UK economy shrunk 0.6% in September.

01 November 2022 UK House Price Forecast: 12% Drop Coming says Economist

The fall in UK house prices has just begun, according to a new analysis.