UK Unveils Cost Of Living Support To Low Income Households

Bank Of England Cuts Rate In Tight Vote

The Bank of England reduced its benchmark interest rate in a close call on Thursday suggesting that the monetary easing cycle is nearing an end as policymakers became more concerned about persistent inflation. The Monetary Policy Committee, headed by BoE Governor Andrew Bailey, voted 5-4 to cut the bank rate by 25 basis points to 4.00 percent.

RTTNews | 3天前

UK House Prices Rise At Fastest Pace In 6 Months

UK house prices grew at the fastest pace in six months in July as the property market started to stabilize following the end of the stamp duty holiday, data from the mortgage lender Halifax showed on Thursday. House prices increased by more-than-expected 0.4 percent in July from June. Prices were expected to grow at a steady pace of 0.1 percent in July. Moreover, this was the fastest growth sinc

RTTNews | 3天前

Downturn In UK Construction Activity Deepens

The UK construction sector downturn deepened in July as volumes of work carried out across all sectors decreased markedly, survey results from S&P Global showed on Wednesday. The headline construction Purchasing Managers' Index fell to 44.3 in July from 48.8 in June. The score signaled the sharpest contraction since May 2020.

RTTNews | 4天前

UK House Price Growth Accelerates In July

UK house prices grew at a faster pace in July reflecting steadily improving housing affordability and moderate fall in mortgage rates, Nationwide Building Society said on Friday. House prices increased 2.4 percent on a yearly basis in July, following June's 2.1 percent increase. Prices were expected to climb at a steady pace of 2.1 percent in July.

RTTNews | 9天前

UK Mortgage Approvals At 3-Month High

UK mortgage approvals rose to a three-month high in June and consumer credit increased notably, official data revealed on Tuesday. Approvals for house purchases increased to a three-month high of 64,167 in June from 63,288 in May, the Bank of England reported. Approvals were above economists' forecast of 63,000.

RTTNews | 12天前

UK Retail Sales Rebound As Warm Weather Boosts Spending

UK retail sales recovered in June as warm weather boosted consumer spending but consumer sentiment weakened amid fears of possible tax rate hikes, data showed Friday. Retail sales grew 0.9 percent on a monthly basis, in contrast to the revised 2.8 percent drop in May, the Office for National Statistics reported. However, this was weaker than economists' forecast of 1.2 percent gain.

RTTNews | 16天前

UK Private Sector Growth Moderates On Services Activity

UK private sector output continued to grow in July but the pace of expansion moderated as services activity lost momentum, flash survey results from S&P Global revealed on Thursday. The composite output index slid to 51.0 in July from 52.0 in June. The reading was also above the forecast of 51.9.

RTTNews | 17天前

UK Budget Deficit Exceeds Estimate In June

The UK budget deficit widened more than estimated in June on higher debt servicing costs, which has added pressure on Chancellor Rachel Reeves to raise taxes at the autumn budget. Public sector net borrowing rose by GBP 6.6 billion from the previous year to GBP 20.7 billion in June, the Office for National Statistics reported Tuesday.

RTTNews | 19天前

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