UK growth in February smashes low expectations April 11, 2025 The UK economy grew by 0.5 per cent in February, official data has shown, beating forecasters’ expectations by a wide margin. A Bloomberg poll of economists predicted growth to come in at 0.1 per cent for the month. UK GDP grew 0.6 per cent in the three months to February, the Office for National Statistics [...]
Bank of England’s postponement of bond sale is a ‘precaution’ April 10, 2025 The Bank of England’s decision to postpone the sale of long-dated bonds to after June following market volatility was a “precaution”, according to deputy governor Sarah Breeden. President Donald Trump’s tariffs sent markets around the world into a state of panic as 30-year gilt yields surged to its highest level since 1998, pushing up borrowing [...]
Exclusive: Former Bank of England policymaker calls for interest rates to be held amid high inflation April 10, 2025 A former Bank of England rate-setter has suggested that high inflation levels call for interest rates to be held at 4.5 per cent in May. The majority of investors and analysts are expecting the Bank to cut interest rates next month to ease low growth concerns, with up to three more cuts priced in until [...]
Arbuthnot: Lender has ‘key advantage’ ahead of Bank of England rate cuts April 8, 2025 Arbuthnot Banking Group is well-positioned for further interest rate cuts from the Bank of England, according to analysts despite its profit dropping by more than £10m during its latest financial year. The lender booked a £35.1m pre-tax profit in its full-year results – a drop of over £10m from 2023. Arbuthnot’s net interest margin – [...]
Bank of England to hike FSCS protection from £85,000 to £110,000 March 31, 2025 UK depositors will receive greater protection from the Bank of England as the amount of money covered by a nationwide deposit guarantee scheme is set to rise to £110,000. The scheme provides financial protection to depositors in case banks, building societies, and credit unions become insolvent. It is funded by a levy paid by regulated [...]
UK mortgage approvals dip in February March 31, 2025 Mortgage approvals for house purchases decreased again in February as gains in consumer credit borrowing slowed down by £300m compared to January, the Bank of England said on Tuesday. House buying appeared to slow down as lenders approved around 65,500 mortgages in February, compared to some 66,100 in January. January saw a decrease of around [...]
Add growth to Bank of England’s remit, Treasury told March 24, 2025 The Treasury has been urged to change the Bank of England’s remit to include growth after a new paper by the Institute of Economic Affairs (IEA) said a focus on nominal GDP would lead to “more stable” policymaking. The Bank is mandated to hit an inflation target of two per cent and sets interest rates [...]
Bank of England holds interest rates amid low growth and trade tensions March 20, 2025 The Bank of England has held interest rates at 4.5 per cent as worries over a global trade war flare up. Rate-setter Swati Dhingra, an external member on the Monetary Policy Committee (MPC), was the lone wolf who voted for a 25 basis point cut. The decision saw Catherine Mann split from Dhingra after the [...]
UK wage growth remains hot as Bank of England set to decide on interest rates March 20, 2025 Wage growth has continued to soar, new figures have revealed. The Office for National Statistics (ONS) said that annual regular pay, excluding bonuses, grew 5.9 per cent between November 2024 and January 2025. Total pay growth, which includes bonuses, increased by 5.8 per cent. “Overall pay growth remains relatively strong, with pay growth high in [...]
Mark Carney: From the Bank of England to Prime Minister of Canada March 10, 2025 Following his dramatic ascension as Prime Minister of Canada, Mark Carney will surely be tempted to call an election on a platform of taking the fight to Donald Trump. But if he wins, that’s where his problems will start, says Michael Martins For such a staid and sober place, Canadian politics has taken a radical [...]