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Interest rates – remain at 4.75%. The next MPC decision will be on October 6.
CPI – remains at 2.5%. The next inflation report will be on October 17.
Consumer Confidence – remains at -8 . The next consumer confidence report will be on September 29.
UK Manufacturers are worried about higher energy prices, having seen their costs [...]
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Interest rates – the decision to hold interest rates at 4.75% was backed by all 8 members of the Monetary Policy Committee (MPC).
However the MPC was concerned that increased inflation could lead to bigger wage demands.
Many analysts expect the bank to raise interest rates again by the end of this year
Consumer spending is holding up [...]
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Manufacturing – manufacturing activity in the UK expanded at a slower rate in August with weaker exports cooling growth.
Service Sector – UK service sector growth slowed in August, reinforcing expectations that the Bank of England will leave the interest rate at 4.75% when the Bank’s Monetary Policy Committee meets this week..
Retail sales – Sales for August grew at fastest rate for 18 months
Consumer Confidence – Consumer confidence survey for August due out tomorrow.
Inflation – Inflation (2.4%) remains above target (2.0%) due to higher prices for oil and food and higher university fees.
Interest rates – Next interest rate decision due on September 7th – [...]
Inflation
Consumer Price Index fell to 2.4% from 2.5% in June – still well above the Government’s 2% target.
Unemployment
The UK jobless rate continues to rise with the number of people out of work increasing by 92,000 to 1.68million between April and June.
UK interest rates raised to 4.75%
The Bank of England increased rates by a quarter of a percent to 4.75% in an effort to keep inflation in check.
Inflation
Consumer Price Index rose to 2.5% from 2.2% in May – well above the Government’s 2% target.
Consumer Confidence
GFK NOP’s Consumer Confidence headline index has remained at the same level [...]
UK house prices rise
Pension gap still high
Bad debt affects Lloyds TSB profit
Interest rates remain unchanged at 4.5%
Inflation up from 2.2% to 2.5%
Consumer confidence remains at -4
The EU and US are blaming each other for the deadlock in the World Trade talks. WTO head says they are merely ’stalled’ and not collapsed.
The talks are aimed at reaching agreement over agricultural subsidies.
The US claim that the EU will not open up it’s markets.
Europe blamed US inflexiblity
If talks remained deadlocked or fail [...]
Bank of England voted unaimously to leave interest rates unchanged at 4.5%
This is despite the CPI figures rising to 2.5% in June from 2.2% in May. Highest since September 2005. The target is still 2%.
Rising oil prices have also failed to shift interest rates upwards
Subdued wage inflation has also cooled the need to increase rates.
Consumer [...]
Mortgage debt has gone through the £1 trillion level, according to figures from the Bank of England (BOE). An extra £9.3bn was borrowed to buy homes in May, increasing outstanding mortgage debt to £1.007 trillion. the value of un-mortgaged property across the UK is about £3.6 trillion which put’s it in perspective.The Government have announced [...]