A new survey by the Confederation of British Industry (CBI) revealed that confidence in the UK's services sector has dropped due to persistent cost pressures and weak demand.
UK inflation has unexpectedly accelerated to 3.8% in July, primarily driven by rising food, fuel, and airfare costs.
UK inflation has unexpectedly accelerated to 3.8% in July, primarily driven by rising food, fuel, and airfare costs.
Rate cuts by more than 20 banks following the BoE move risk pushing savings returns below inflation.
Economists said the Q2 GDP surprise reduces pressure for rapid follow-up cuts after August’s split decision.
The pound strengthened this week as traders priced Fed easing and reassessed BoE cuts after resilient UK growth.
UK stocks hit new highs as investors shake off trade worries; inflation and unemployment rise.
The Bank of England reduced rates by 25bp to 4.0%, with a closely divided MPC underscoring policy uncertainty.
BoE reduces rates as UK inflation spikes to 3.5%, signaling confidence in falling prices ahead.
Business leader optimism in the UK economy has fallen to its lowest level since records began in 2016.
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