Tag: UK economy
UK Inflation Rises to 4%, Dashing Hopes of an Interest Rate Cut
UK inflation rose by 4% in December, the Office for National Statistics (ONS) reported, thereby outpacing the 3.8% rise predicted by economists. Higher than the 3.9% rise in November, December's inflation surge was largely driven by a 16% annual rise in tobacco prices, followed...
UK Property on Course for Record Affordability
UK housing prices are on track to their longest streak of improved affordability in over two decades, with data from the Nationwide Building Society showing that average house prices for the year fell 1.8% to £257,443. In real terms, when accounting for inflation, property...
UK Debt Outlook Remains Negative, Credit Agency Fitch Confirms
Credit rating agency Fitch Ratings maintained its "negative" outlook on the United Kingdom's economy, adding pressure to the administration of Prime Minister Rishi Sunak. This puts the UK at risk of losing its AA- rating, which is also held by France, the Republic of...
Microsoft to Invest $3.2 Billion in UK in AI Push
Microsoft is planning to inject $3.2 billion over the next three years into the United Kingdom in an effort to foster artificial intelligence technology growth. The UK government has lauded this decision, claiming that Microsoft's investment will provide a solid foundation from which the...
Bank of England Holds Rates at 15-Year High
The Bank of England decided to keep interest rates unchanged at 5.25% at its policy meeting on Thursday, keeping them at a 15-year high. The Monetary Policy Committee voted by a majority of 6-3 in favor of keeping rates unchanged, marking the second time...
Bank of England Expected to Forecast Recession Risk Ahead of General Election
Market analysts are expecting the Bank of England to forecast a challenging economic period for the United Kingdom in the months leading up to the next general election. This places pressure on UK Prime Minister Rishi Sunak, who will be required to call an...