GBP News

The UK employment rate hit a record high and the jobless rate remained unchanged in three months to November, data from the Office for National Statistics showed Tuesday.

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After earlier this month the UK Gambling Commission (UKGC) announced that after April 14th 2020 clients of gaming websites will no longer be able to use credit cards to fund their bets, some experts and analysts say it is high time that the UK's Financial Conduct Authority (FCA) do the same, as quite too many retail investors rely on their credit cards to make deposits on forex and CFD trades.

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UK jobless claims increased in March, while the employment rate reached a record high in the three months to February ahead of social distancing measures taken to curb the spread of coronavirus, or COVID-19, data from the Office for National Statistics showed Tuesday. In March, the claimant count rose marginally to 3.5 percent from 3.4 percent in February.

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UK inflation slowed to a three-month low in March on falling fuel and clothing prices ahead of the coronavirus lockdown, data from the Office for National Statistics showed Wednesday. Consumer price inflation eased to 1.5 percent from 1.7 percent in February. This was the lowest rate since last December, when prices rose 1.3 percent. The rate came in line with expectations.

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The UK economy is undergoing an economic contraction that is the most severe in centuries due to the coronavirus pandemic and a quick rebound is unlikely, Bank of England policymaker Gertjan Vlieghe said Thursday.

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The Financial Conduct Authority (FCA) in the UK surprisingly reported fewer forex and CFD complaints in the second half of 2019, compared to the same period the previous year.

In the second half of 2019 FCA received just 1376 complaints regarding forex and CFD products, 13,8% less than in the second half of 2018, when the complaints reached 1596.

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Bank of England is likely to consider more monetary easing in future after weighing the side-effects of negative interest rates, to help the UK economy recover from the historic shock dealt by the coronavirus, or Covid-19, pandemic, Deputy Governor Ben Broadbent said Tuesday.

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Bank of England Governor Andrew Bailey said the UK central bank is currently reviewing all its tools and it would be foolish to rule out any one of them, including negative interest rates.

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UK employment declined sharply in the second quarter amid the coronavirus pandemic, data from the Office for National Statistics showed Tuesday.

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UK consumer price inflation rose to a four-month high in July on clothing and petrol prices, data from the Office for National Statistics showed Wednesday.

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