Category archives: Economic Review

Interest rates set to fall more gradually  Last month, the Bank of England (BoE) cut interest rates for only the second time since 2020 but also warned future reductions were likely to be more gradual due to the prospect of inflation creeping higher next year.   Following its latest meeting, which concluded on 6 November, the […]

Economy set for short term Budget boost  New economic projections produced by the Office for Budget Responsibility (OBR) suggest the Labour administration’s first Budget will provide only a ‘temporary boost’ to UK economic output.   Chancellor Rachel Reeves revealed the independent fiscal watchdog’s latest forecast during her Autumn Budget delivered to the House of Commons on […]

UK economic growth forecast upgraded  An updated forecast published last month by the Organisation for Economic Co-operation and Development (OECD) suggests the UK will be the joint-second fastest growing economy among the G7 nations this year.   According to the OECD’s latest projections, the UK economy is set to expand by 1.1% across the whole of […]

BoE starts to cut rates   In early August, the Bank of England (BoE) sanctioned the first reduction in interest rates since March 2020 and economists expect a second cut to be announced before the end of this year.  The closely-run decision was announced on 1 August following the latest meeting of the Bank’s Monetary Policy […]

UK growth stronger than expected  Figures released last month by the Office for National Statistics (ONS) showed the UK economy grew faster in May than had been predicted, while survey evidence points to a more recent post-election pick-up in business activity.  The latest gross domestic product (GDP) statistics revealed that economic output rose by 0.4% […]

Prospect of rate cut moves closer  While last month once again saw the Bank of England (BoE) leave interest rates unchanged at a 16-year high, the minutes to the Bank’s Monetary Policy Committee (MPC) meeting signalled a notable change in tone and economists now view a rate cut as the most likely outcome when the […]

UK growth rate at two-year high  Last month’s release of first-quarter gross domestic product (GDP) statistics confirmed the UK economy has now exited the shallow recession entered during the latter half of last year, while survey evidence suggests private sector output has continued to expand across the past two months.  The latest GDP data published […]

UK economic recovery gains momentum Official statistics published last month showed the UK economy returned to growth in the first two months of 2024, while more recent survey data suggests the recovery from last year’s shallow recession continues to gather momentum. The latest gross domestic product (GDP) figures released by the Office for National Statistics […]

Short-term growth forecasts upgraded New economic predictions produced by the Office for Budget Responsibility (OBR) suggest the UK economy is set to grow by more than previously expected over the course of the next two years. Chancellor Jeremy Hunt unveiled the independent fiscal watchdog’s latest forecasts during his Spring Budget delivered to the House of […]

Survey suggests recession already over Official statistics released last month showed the UK economy fell into recession during the second half of last year, although more recent survey data does suggest the recession could already be over. The latest gross domestic product (GDP) figures published by the Office for National Statistics (ONS) showed the economy […]