Category archives: News in Review

“The fight against inflation is carrying a heavy cost in terms of heightened recession risks” Early S&P Global/CIPS UK Purchasing Managers’ Index (PMI) survey data for August has highlighted that weaker household spending and increasing interest rates contributed towards a decline in demand for both services and goods during the month. The key business survey, monitoring […]

“Inflation has fallen rapidly over the past six months” The latest inflation data from the Office for National Statistics (ONS) has shown that the Consumer Prices Index (CPI) measured 6.8% in the 12 months to July 2023, down from 7.9% in June, the lowest rate since early 2022. Prime downward contributors during the month derived […]

“This is good news… we are making progress” Last Friday, newly released data from the Office for National Statistics (ONS) revealed a better-than-expected uplift in UK economic growth. The UK’s gross domestic product (GDP) rose by 0.5% on a monthly basis in June, beating market expectations of a 0.2% rise. This higher growth rate, the […]

“Inflation is falling and that’s good news” Last Thursday, the Bank of England’s (BoE) Monetary Policy Committee (MPC) voted to increase Bank Rate to 5.25%, a fourteenth consecutive rise that has taken Bank Rate to its highest level in 15 years. At the MPC meeting, the nine-member committee was split three ways, with six voting […]

‘A resilient financial sector’ Interest rates in the UK will need to stay higher for longer than previously forecast to tackle inflation, the International Monetary Fund (IMF) warned last week, despite improvements in the country’s economic outlook since the start of 2023. With cheaper energy, better relations with the European Union and calmer financial markets, […]

“Inflation is falling and stands at its lowest level since last March” Last week, official data released by the Office for National Statistics (ONS) revealed that inflation in the UK fell further than expected in June to settle at 7.9%, down from 8.7% a month earlier and its lowest point since March 2022. The ONS […]

“Our plan will work, but we must stick to it” Official figures released last week by the Office for National Statistics (ONS) showed that UK gross domestic product (GDP) contracted by 0.1% in May. Analysts pointed to the additional bank holiday for the coronation as a key factor in this decline. By falling into reverse, […]

“British pensioners should benefit from British business success”  Chancellor Jeremy Hunt announced a package of reforms designed to boost pensions and increase investment in British businesses, in his first Mansion House speech which took place on Monday evening. He stated that the Mansion House Reforms aim to secure the best possible outcome for pension savers, […]

“These measures should offer comfort to those who are anxious about high interest rates” Last week, around 85% of lenders operating in the UK’s mortgage market signed a government Mortgage Charter agreeing to support borrowers, following a meeting with the Chancellor to discuss the impact of rising mortgage rates on homeowners.  The Charter includes allowing […]