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British consumer spending could be dampened this year by high inflation, that is largely driven by a weaker pound, Bank of England Chief Economist Andrew Haldane said Thursday.
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This is a discussion on GBP News within the Analytics and News forums, part of the Trading Forum category; British consumer spending could be dampened this year by high inflation, that is largely driven by a weaker pound, Bank ...
British consumer spending could be dampened this year by high inflation, that is largely driven by a weaker pound, Bank of England Chief Economist Andrew Haldane said Thursday.
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U.K. construction output dropped unexpectedly in November, figures from the Office for National Statistics revealed Wednesday.
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British households remained pessimistic about their financial outlook in January and their financial woes intensified on rising inflation, results of a survey by IHS Markit and financial information provider Ipsos Mori revealed Wednesday.
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The British government has lost a crucial appeal in the U.K. Supreme Court to trigger Article 50 for exiting the European Union without consulting the Parliament.
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In a setback to the UK government's hopes to bypass the parliament and trigger Article 50 of the Lisbon Treaty to kick-start the process of exiting the European Union, the UK Supreme Court ruled on Tuesday that lawmakers must have a say on the matter before formal talks can begin. The UK Supreme Court dismissed the government's appeal by a majority of 8 to 3.
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The U.K. economy is set to see a slower growth this year, the National Institute of Economic and Social Research said Tuesday.
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Policymakers of Bank of England unanimously decided to maintain its monetary policy unchanged and raised its growth forecasts on Thursday.
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The British government published a White Paper on "Brexit" on Thursday that set out the principles and strategies for exiting the European Union and to move forward afterwards. The 77-page policy document was released for public as soon as the Brexit Secretary presented it in the House of Commons.
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Given the myriad ways in which the political situation could pan out as the UK discuss its exit from the European Union, the monetary policy need not continue to hold fire if the real economy is solid, Bank of England policymaker Kristin Forbes said Tuesday.
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Business investment in the United Kingdom is set remain very weak in the near term in the backdrop of the "Brexit", before picking up, Bank of England Deputy Governor Jon Cunliffe said Wednesday.
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