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British economy

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Shock for UK as Bank of England halves its economic growth prediction

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Rising borrowing costs set to batter UK government - does it matter?

As borrowing costs rise, the government has less money to spend on the country's creaking National Health Service, military, emergency services and schools.

15/01/2025

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UK inflation in surprise December dip, raising hopes over bond markets

The rise in the interest rate investors are charging the UK government to borrow money over 10 years hit a 16-year high in recent days, piling pressure on Chancellor Rachel Reeves to cut spending or raise taxes.

15/01/2025

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UK bond yields soar to multi-decade highs: Is it a new 'Truss moment'?

UK gilt yields hit multi-decade highs, with 10-year yields at 4.90% and 30-year at 5.40%. The pound slumped to a 14-month low. Analysts debate if this is a new "Truss moment" or temporary turbulence driven by inflation and fiscal worries.

09/01/2025

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ABBA Voyage gives UK economy huge boost, contributing £1.4 billion

The virtual concert residency has attracted over two million visitors since opening in 2022 and new data shows that the production has delivered £1.4 billion (approx. €1.7 billion) in economic benefits.

10/12/2024

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Stellantis announces plans to close Vauxhall van-making plant at Luton

The French-Italian car giant says it is planning more investment to enhance its other UK factory at Ellesmere Port as the UK's sustainable, EV-only volume manufacturing plant.

27/11/2024

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UK inflation rises to 2.3% as energy bills push up consumer prices

Inflation in the UK rose sharply to a six-month high in October, above the BOE's 2% target, scaling back bets that there will be further cuts in borrowing rates this year.

20/11/2024

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Euroviews. Standing open-armed, UK is choosing investment over decline

A UK with strong foundations and a stable economy translates into a UK that is a stable partner to our friends in Europe, United Kingdom's Chancellor of the Exchequer Rachel Reeves writes in a Euronews exclusive.

18/11/2024

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Germany and UK take aim with 'landmark' deal to make artillery guns

The new defence agreement will bring jobs to the UK as the Labour government seeks to build closer ties with European allies.

23/10/2024

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UK inflation falls to 3-year low boosting hopes for another rate cut

Lower air fares and petrol prices dragged down price increases in September in the UK, prompting hopes that there will be another interest rate cut on the cards.

16/10/2024

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UK economy returns to growth in August after two months of stagnation

Figures released by the Office for National Statistics (ONS) showed that Gross domestic product (GDP) recorded a 0.2% growth in August, an increase on no growth in June and July.

11/10/2024

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Troubled Thames Water waist-deep in trouble over sewage dumping

The heavy fine for the UK's biggest water supplier comes shortly after the troubled utility company announced it was in talks with creditors to seek new equity, to prevent it running out of cash by May next year.

08/10/2024

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Bank of England keeps rates at 5%, propels pound to over 2-year highs

The Bank of England held rates at 5%, as largely expected. The pound surged against the dollar and euro, while the FTSE 100 dipped slightly. European stocks rallied following the Federal Reserve's rate cut.

19/09/2024

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Bank of England set to hold rates steady as it eyes stubborn inflation

The Bank of England is set to announce its interest rate decision on Thursday, with market participants widely anticipating the rate to remain unchanged, given the unsupportive economic landscape.

18/09/2024

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Spotlight shifts to ECB as US CPI weakens case for Fed jumbo rate cut

European markets may be bracing for a hawkish rate cut from the European Central Bank, following higher-than-expected US inflation data, which dampened hopes for a significant rate reduction by the Federal Reserve.

12/09/2024

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UK jobs market sees worst month in more than a decade

The strength of the UK's jobs market fell for the 14th month in a row in August, according to accountant BDO.

09/09/2024

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UK house prices edge up in June, despite higher mortgage rates

British house prices showed a small gain in June from May but the impact of higher borrowing costs is still weighing on the property market, mortgage lender Nationwide says.

01/07/2024

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UK economic recovery was faster than first estimated in early 2024

The UK economy grew at a faster pace than initially estimated, in the first three months of 2024, as the country emerged from recession, revised official figures show.

28/06/2024

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UK retail sales boosted by better weather after April's heavy showers

Britain's changeable weather made a huge difference for shop sales in May as consumers ventured out again with the appearance of blue skies and a more hopeful meteorological outlook.

21/06/2024

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UK’s technical recession raises doubts about Sunak’s economic claims

The UK slid into a technical recession at the end of 2023 because of increased inflation and soaring interest rates.

28/03/2024

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Bank of England holds rates steady, inflation set to drop

The Bank of England has held the interest rate at 5.25%, with one dissent by Swati Dhingra advocating for a 0.25% cut. Projections see inflation dipping below the target in Q2 2024.

21/03/2024