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Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Economy News Stories

Budget 2017 – what does it mean for you?

Updated: 09th March 2017 - First Published: 08th March 2017 Chancellor Philip Hammond took to the floor earlier today to reveal his Budget for 2017, and we’ve scoured the small print to hunt out the best nuggets of information. Read on to get an outline of the main points and see if anything will impact you. Read More...

Inflation and you: what does the latest rise mean?

Updated: 17th January 2017 - First Published: 17th January 2017 Today saw not only the outlining of the Government’s stance on leaving the EU, but also a rise in inflation that was larger than predicted. But what does this mean for the pound in your pocket? Read More...

Base rate remains unchanged in surprise decision

Updated: 14th July 2016 - First Published: 14th July 2016 Earlier today, the Bank of England’s rate setting committee announced that it had voted decisively to keep base rate on hold at its record low of 0.5%. But what does it mean for you? Read More...

Budget 2016 – an overview

Updated: 17th March 2016 - First Published: 16th March 2016 Well, George Osborne has just revealed the Budget for 2016 – his eighth so far as Chancellor – and as ever, there were some winners and losers from the whole thing. Below is a quick overview of the key points. Read More...

What does a US Fed rise mean for the UK?

Updated: 17th December 2015 - First Published: 17th December 2015 The US Federal Reserve has decided to raise interest rates, and although you may not think that financial events happening in the US will have much of an impact on UK soil, you may be surprised… Read More...

House price growth “softens” in November

Updated: 30th November 2015 - First Published: 30th November 2015 In welcome news for those trying to get on the housing ladder, latest figures have revealed that house price growth has softened slightly this month, which means that prices shouldn’t be surging ahead too much over the festive period. Read More...

The Autumn Statement 2015

Updated: 25th November 2015 - First Published: 25th November 2015 Chancellor George Osborne presented his latest Autumn Statement earlier today, and while some of it was expected, there were a few surprises along the way, too. We thought we’d outline the key points from a personal finance perspective. Read More...

IHT changes: the power to pass on the family home

Updated: 28th September 2017 - First Published: 10th July 2015 Earlier this week, Chancellor George Osborne confirmed an increase to the inheritance tax (IHT) threshold for family homes, which means that almost a million more properties will soon be exempt from this form of tax. Read More...

The Summer Budget – an overview

Updated: 08th July 2015 - First Published: 08th July 2015 Chancellor George Osborne delivered his latest Budget earlier today, the first wholly-Conservative Budget since 1996. There were few surprises in store – most announcements confirmed previous reports – but here’s a run-through of the key points. Read More...

Budget 2015 – an overview

Updated: 19th March 2015 - First Published: 18th March 2015 Chancellor George Osborne presented his final Budget for this Government earlier today, and while many of the announcements had been... Read More...

The Autumn Statement – an overview

Updated: 03rd December 2014 - First Published: 03rd December 2014 Chancellor George Osborne has just revealed his latest Autumn Statement, and while some of it had been predicted, there were also a few surprises thrown in along the way. Here’s a quick overview of the key points. Read More...

Consumer confidence returning

Updated: 18th August 2014 - First Published: 18th August 2014 Consumers have had it tough over the last few years. Rising prices, stagnant wage growth and a lack of faith in the economy at large have all taken their toll, but it seems that things are definitely on the up. Read More...

Budget 2014 – an overview

Updated: 20th March 2014 - First Published: 20th March 2014 The 2014 Budget was announced yesterday, and whilst a lot of what was said was expected – increases to the personal allowance, help with childcare, etc. – there were a few surprises thrown in along the way. Read More...

Carney adjusts interest rate policy

Updated: 12th February 2014 - First Published: 12th February 2014 Governor of the Bank of England Mark Carney has just announced changes to his forward guidance policy on interest rates, confirming expectations that it won’t just be unemployment levels that will fuel a rise. Read More...

No housing bubble but cuts on the way, says IFS

Updated: 06th February 2014 - First Published: 06th February 2014 There’s been a lot of speculation floating around that we’re in for another housing bubble, with prices having risen rapidly over the past 12 months. Read More...

Financial services feeling economic recovery

Updated: 22nd January 2014 - First Published: 22nd January 2014 Things have been looking up for the UK economy for a while now with a recovery firmly taking root, and according to a survey from the Confederation of British Industry (CBI) this is starting to feed through to financial services. Read More...

UK’s unemployment rate falls to 7.6%

Updated: 13th November 2013 - First Published: 13th November 2013 During September the UK’s rate of unemployment moved closer towards the threshold at which the Bank of England (BoE) said it will consider increasing interest rates. Read More...

Householders feeling the pinch thanks to inflation

Updated: 16th October 2013 - First Published: 16th October 2013 UK inflation held at 2.7% for the second consecutive month in September, which hasn’t stopped householders feeling the pinch. In fact, they need to find an extra £679 per year just to maintain the standard of living they enjoyed 12 months ago. Read More...

Vote now in the Consumer Moneyfacts Survey!

Updated: 04th October 2017 - First Published: 07th October 2013 Tell us what you think of personal financial providers in the UK to stand the chance of winning £1,000! Read More...

Minimum wage rises by 12p

Updated: 01st October 2013 - First Published: 01st October 2013 From today, employees on the minimum wage will see their pay increase by 12p to £6.31 per hour. Read More...

Unemployment edges down

Updated: 12th September 2013 - First Published: 11th September 2013 The UK’s unemployment rate edged downwards between May and June to 7.7%, official figures reveal. Read More...

House prices up 5.4% in August

Updated: 06th September 2013 - First Published: 06th September 2013 Halifax’s latest House Price Index reveals the average house price grew 5.4% in August when compared to a year ago – the highest annual rate of growth since June 2010. Read More...

No change to interest rates

Updated: 05th September 2013 - First Published: 05th September 2013 The Bank of England’s Monetary Policy Committee (MPC) has voted to keep base rate at its record low of 0.5%. Read More...

Interest rates expected to rise in early 2016

Updated: 30th August 2013 - First Published: 30th August 2013 One of the country’s biggest business lobby groups has predicted that interest rates will only rise again in early 2016 – nine months earlier than Bank of England (BoE) predictions. Read More...

UK growth climbs to 0.7%

Updated: 27th August 2013 - First Published: 23rd August 2013 Official figures released today reveal the economy grew by more than initially thought between April and June, raising hopes that the UK is finally powering out of its five-year slump. Read More...

Base rate linked to unemployment rate

Updated: 07th August 2013 - First Published: 07th August 2013 The Bank of England will not consider raising interest rates from their current level of 0.5% until the UK unemployment rate has fallen below 7%, it was announced today. Read More...

Base rate remains at 0.50%

Updated: 01st August 2013 - First Published: 01st August 2013 The Bank of England’s Monetary Policy Committee (MPC) has voted to keep interest rates on hold. Read More...

Further hopes emerge of economic recovery

Updated: 25th July 2013 - First Published: 25th July 2013 Figures released by the Office for National Statistics (ONS) have suggested that the UK economy grew during the second quarter of this year, boosting hopes of a financial recovery. Read More...

IMF ups UK growth forecast

Updated: 09th July 2013 - First Published: 09th July 2013 In a tentative sign that the UK economy is slowly returning to health, the International Monetary Fund (IMF) today raised its growth forecast for the country from 0.7% to 0.9%. Read More...

King warns rate rise “not imminent”

Updated: 26th June 2013 - First Published: 26th June 2013 Speculation that interest rates could begin to rise again over coming months has been dismissed by the Governor of the Bank of England (BoE) Sir Mervyn King. Read More...

Low interest rates ‘unsustainable’

Updated: 21st June 2013 - First Published: 21st June 2013 The Governor of the Bank of England (BoE) has called for the Government to prepare ahead for a rise in BoE base rate. Read More...

MPC voted unanimously to keep base rate at 0.50%

Updated: 19th June 2013 - First Published: 19th June 2013 Minutes from the Bank of England’s Monetary Policy Committee (MPC) meeting on 6 June have revealed all nine members agreed to keep base rate at 0.50% for the 51st successive month. Read More...

Financial confidence grows to three year high

Updated: 18th June 2013 - First Published: 18th June 2013 The public’s perceptions and confidence in the economy over the next twelve months has grown to the highest level since 2010, according to a new report. Read More...

Base rate remains at 0.50%

Updated: 06th June 2013 - First Published: 06th June 2013 The Bank of England’s Monetary Policy Committee (MPC) has voted to keep base rate at its historic low of 0.50% for the 51st consecutive month. Read More...

UK GDP forecast upgraded

Updated: 03rd June 2013 - First Published: 03rd June 2013 The British Chambers of Commerce (BCC) has forecast that the UK’s gross domestic product (GDP) will rise by more than initially predicted. Read More...

£2.6 billion lent under FLS during Q1

Updated: 03rd June 2013 - First Published: 03rd June 2013 Consumers and businesses were lent a total of £2.6 billion during the first quarter of this year as a result of the Government’s £80-billion Funding for Lending Scheme. Read More...

Sunny outlook for UK economy

Updated: 16th May 2013 - First Published: 15th May 2013 The Governor of the Bank of England, Sir Mervyn King, delivered his final inflation report today, in which he predicted that inflation would fall to around the Government’s 2% target by the end of 2014. Read More...

UK avoids triple-dip recession

Updated: 25th April 2013 - First Published: 25th April 2013 Preliminary figures released by the Office for National Statistics (ONS) today have shown the UK’s economy grew by 0.3% during the first quarter of 2013, escaping a triple-dip recession. Read More...

MPC votes unanimously on base rate

Updated: 17th April 2013 - First Published: 17th April 2013 All nine members of the Bank of England’s Monetary Policy Committee (MPC) voted unanimously in favour of keeping bank base rate at its historic low earlier this month, minutes from the committee’s meeting have revealed. Read More...

Inflation eats into basic household spending

Updated: 27th March 2013 - First Published: 27th March 2013 Analysis by Halifax has revealed the full impact that rising inflation has had on the average household’s monthly expenditure. Read More...

Budget 2013: Key highlights

Updated: 21st March 2013 - First Published: 20th March 2013 Chancellor George Osborne today announced the Government’s 2013 Budget. Key highlights include a new scheme to boost homeownership for those with low deposits and new tax-free childcare vouchers for working families. Read More...

Moody’s downgrades UK credit rating

Updated: 25th February 2013 - First Published: 25th February 2013 The UK’s AAA credit rating has been downgraded for the first time in over thirty years, indicating that the country’s debt and economic situation remains in the doldrums. Read More...

Combat inflation with a tax-free account

Updated: 28th June 2017 - First Published: 13th February 2013 The Consumer Prices Index (CPI) remained at 2.70% during January, above the Government’s target of 2% and spelling yet more frustration for the nation’s beleaguered savers. Read More...

BoE base rate kept at 0.5%

Updated: 11th January 2013 - First Published: 10th January 2013 The Bank of England’s Monetary Policy Committee (MPC) today announced that it will be keeping base rate at 0.5% for another month at least. Read More...

Interest rates forecast to stay at 0.5% until 2017

Updated: 15th December 2016 - First Published: 08th January 2013 Interest rates have been forecast to remain at their record low of 0.5% until 2017 as official figures revealed the UK economy stagnated during 2012. Read More...

Inflation falls to 2.2%

Updated: 16th October 2012 - First Published: 16th October 2012 Inflation fell to 2.2% in September, its lowest level in nearly three years, official statistics show. Read More...

UK ‘to return to growth in 2013’

Updated: 15th October 2012 - First Published: 15th October 2012 Ernst & Young has predicted that the UK economy will return to growth next year, buoyed by a housing market boost. Read More...

UK recession is ‘over’ claims think tank

Updated: 10th October 2012 - First Published: 10th October 2012 The UK is no longer in the depths of a recession, according to the National Institute of Economic & Social Research (NIESR). Read More...

UK’s economic forecast downgraded

Updated: 09th October 2012 - First Published: 09th October 2012 The International Monetary Fund (IMF) has downgraded its forecast for the UK economy, predicting that it will shrink by 0.4% this year, not 0.2% as initially stated in July. Read More...

Base rate remains on hold at 0.50%

Updated: 04th October 2012 - First Published: 04th October 2012 The Monetary Policy Committee (MPC) has voted to keep Bank of England base rate on hold at its historical low of 0.50%. Read More...

Tough times ahead for household finances

Updated: 14th December 2012 - First Published: 24th September 2012 UK households are anticipating a rough twelve months as inflation expectations hit a four month high. Read More...

Sir Mervyn says recession is over

Updated: 21st September 2012 - First Published: 21st September 2012 The governor of the Bank of England has predicted that the UK economy will rise out of the double-dip recession in the next quarter. Read More...

MPC voted unanimously to keep base rate at 0.50%

Updated: 19th September 2012 - First Published: 19th September 2012 Minutes from the Monetary Policy Committee’s (MPC) meeting earlier this month have revealed the panel voted unanimously for base rate to remain on hold at 0.50%. Read More...

Inflation drops during August

Updated: 18th September 2012 - First Published: 18th September 2012 Official figures released today have revealed inflation fell from 2.6% to 2.5% during August. Read More...

Base rate remains on hold at 0.50%

Updated: 06th September 2012 - First Published: 06th September 2012 Bank of England base rate has remained on hold at its historic low of 0.50%, with the Government’s quantitative easing also remaining at £375 billion. Read More...

Cost of raising a child rises

Updated: 04th September 2012 - First Published: 04th September 2012 Parents are spending an average of £150 a week on their children, equating to £143,000 across an eighteen year period. Read More...

UK economy shrinks less than thought

Updated: 14th December 2012 - First Published: 24th August 2012 The UK’s economy shrank less during the second quarter of this year, according to revised figures from the Office for National Statistics (ONS). Read More...

MPC voted unanimously to maintain base rate

Updated: 15th August 2012 - First Published: 15th August 2012 The Monetary Policy Committee (MPC) voted unanimously earlier this month to keep base rate at its historical low of 0.50%. Read More...

First inflation rise in four months

Updated: 14th August 2012 - First Published: 14th August 2012 Consumer Prices Index (CPI) inflation rose from 2.4% to 2.6% in July, the first increase since March 2012 when the measure stood at 3.5%. Read More...

Libor needs to be replaced, says King

Updated: 09th August 2012 - First Published: 09th August 2012 The Governor of the Bank of England, Sir Mervyn King, has called for Libor to be replaced as he believes it is no longer fit for purpose. Read More...

Five years of credit crunch misery

Updated: 08th August 2012 - First Published: 08th August 2012 In August 2007 the first signs of the credit crisis began to emerge, signalling the start of a global recession. Read More...

Bank of England cuts growth forecast

Updated: 14th December 2012 - First Published: 08th August 2012 The Bank of England has slashed the UK’s growth forecast to zero, as the economy slips further into recession. Read More...

Bleak forecast for UK’s economy

Updated: 03rd August 2012 - First Published: 03rd August 2012 The dark cloud hanging over the UK’s economy shows no sign of clearing, according to the latest grim economic forecast. Read More...

Bank of England under pressure to boost economy

Updated: 02nd August 2012 - First Published: 02nd August 2012 All eyes will be on the outcome of the Bank of England policymakers’ meeting at noon today to see whether calls to rescue the UK’s ailing economy have been acknowledged. Read More...

Base rate stays at 0.50%

Updated: 02nd August 2012 - First Published: 02nd August 2012 The Bank of England base rate has remained on hold at 0.50%, despite speculation that the Government may reduce it to a new record rate of 0.25%. Read More...

UK house prices fall by 2.6% in a year

Updated: 01st August 2012 - First Published: 01st August 2012 The average house price has tumbled over the past year to £164,389, a fall of 2.6%. Read More...

Household income falls to seven year low

Updated: 31st July 2012 - First Published: 31st July 2012 Households are continuing to feel the pinch as the economic crisis continues. Read More...

UK plunges further into recession

Updated: 25th July 2012 - First Published: 25th July 2012 The UK’s economy shrank by 0.7% during April and June, reflecting the longest double dip recession in fifty years. Read More...

Research predicts base rate cut in November

Updated: 24th July 2012 - First Published: 24th July 2012 Bank base rate could be reduced even further from its historic low this November. Read More...

Bank of England releases minutes of MPC meeting

Updated: 05th June 2017 - First Published: 18th July 2012 The Bank of England’s Monetary Policy Committee (MPC) voted unanimously to keep bank base rate at its historical low of 0.50% during its meeting two weeks ago. Read More...

Bank of England launches £80 billion scheme

Updated: 13th July 2012 - First Published: 13th July 2012 The UK’s banks and building societies are to be offered extra funding by the Bank of England to help boost lending. Read More...

Rise in consumer debt during May

Updated: 03rd July 2012 - First Published: 03rd July 2012 Latest figures released today by the Bank of England have revealed that overall lending to individuals was £1.3 billion during May. Read More...

Bank Governor outvoted on more QE

Updated: 20th June 2012 - First Published: 20th June 2012 The Governor of the Bank of England, Sir Mervyn King, found himself outvoted on plans to inject more money into the economy this month. Read More...

Inflation falls to two-and-a-half year low

Updated: 19th June 2012 - First Published: 19th June 2012 The Consumer Prices Index (CPI) rate of inflation has fallen to its lowest level for two-and-a-half years. Read More...

Govt to inject £80bn to boost lending

Updated: 21st June 2012 - First Published: 15th June 2012 The Government has announced plans to inject billions of pounds into the UK’s financial system in a bid to boost lending to businesses and consumers. Read More...

Could you be the next member of the MPC?

Updated: 13th June 2012 - First Published: 13th June 2012 If you fancy raking in more than £131,000 a year while working part time, then the current vacancy at the Bank of England could be right up your street! Read More...

No change to BoE base rate

Updated: 07th June 2012 - First Published: 07th June 2012 There were no surprises when the Bank of England announced today that the base rate of interest would remain unchanged for another month at least. Read More...

BCC cuts 2012 growth forecast

Updated: 01st June 2012 - First Published: 01st June 2012 The British Chambers of Commerce (BCC) has cuts its growth forecast for the UK economy. Read More...

Princely house price rise during Queen’s reign

Updated: 28th May 2012 - First Published: 28th May 2012 As the Queen celebrates 60 years on the throne, research has revealed the dramatic changes that have occurred in the housing market during her reign. Read More...

‘Light at end of tunnel’ for UK consumers

Updated: 28th May 2012 - First Published: 28th May 2012 Changes to the tax system and falling inflation will bolster the wallets of the average earner by almost £500 this year, according to a new report. Read More...

Economy fell 0.3% in first three months of 2012

Updated: 24th May 2012 - First Published: 24th May 2012 The economy contracted by more than was originally thought in the first three months of the year, the Office for National Statistics (ONS) has said. Read More...

ONS reports disappointing retail sales

Updated: 23rd May 2012 - First Published: 23rd May 2012 UK retail sales fell sharply in April, with a significant decline in petrol sales partly to blame. Read More...

MPC maintains interest rates at 0.5%

Updated: 10th May 2012 - First Published: 10th May 2012 There was no shock announcement from the Bank of England’s rate-setting committee at noon today, as interest rates remain on hold at 0.5%. Read More...

UK predicted to return back to growth

Updated: 08th May 2012 - First Published: 03rd May 2012 The UK is currently in recession, but an influential group has predicted that the country will return to growth in the second half of this year. Read More...

UK falls back into recession

Updated: 25th April 2012 - First Published: 25th April 2012 The UK is back in recession after figures from the Office for National Statistics (ONS) revealed the economy shrank by 0.2% in the first three months of 2012. Read More...

Inflation increases from 3.4% to 3.5%

Updated: 17th April 2012 - First Published: 17th April 2012 Inflation figures released today show the Consumer Prices Index (CPI) rose during March, from 3.4% to 3.5%. Read More...

UK to continue to struggle until next year

Updated: 16th April 2012 - First Published: 16th April 2012 The UK will struggle on this year, with only a minor increase in output, before a more sustainable recovery next year, it has been predicted. Read More...

Base rate remains at 0.5%

Updated: 05th April 2012 - First Published: 05th April 2012 There was no surprise announcement from the Bank of England today, as it was confirmed that interest rates will remain at 0.5%. Read More...

Fall in UK economy revised downwards

Updated: 28th March 2012 - First Published: 28th March 2012 The fall in the UK economy during the last three months of 2011 has been revised downwards, it has been confirmed. Read More...

First class stamps to cost 60p

Updated: 27th March 2012 - First Published: 27th March 2012 The price of a first class stamp is to increase from 46p to 60p from the end of April, with the price of second class stamps also to rise. Read More...

Budget 2012: summary of key points

Updated: 16th October 2017 - First Published: 22nd March 2012 Get the lowdown on the important nuggets from the 2012 Budget that will affect you. Our bite-size summary tells you the key points from the Chancellor’s speech. Read More...

George Osborne delivers 2012 Budget

Updated: 21st March 2012 - First Published: 21st March 2012 The Chancellor of the Exchequer George Osborne delivered his 2012 Budget in the Commons today, promising to increase personal allowances. Read More...

Bank rate setters split on more QE

Updated: 21st March 2012 - First Published: 21st March 2012 Two of the Bank of England’s rate setting committee argued that quantitative easing (QE) should be further expanded this month, but found themselves outnumbered. Read More...

Inflation falls to 3.4%

Updated: 20th March 2012 - First Published: 20th March 2012 Inflation figures released today show that the Consumer Prices Index (CPI) fell during February, from 3.6% to 3.4%. Read More...

Bank announces another rate freeze

Updated: 08th March 2012 - First Published: 08th March 2012 The Bank of England has announced that interest rates are to be frozen at 0.5%, some three years after it reduced the measure to its current record low. Read More...

BOE injects £50 billion into economy

Updated: 09th February 2012 - First Published: 09th February 2012 The Bank of England has injected another £50 billion into the UK economy as part of its programme of quantitative easing (QE). Read More...

UK economy fell by 0.2% in O4 2011

Updated: 25th January 2012 - First Published: 25th January 2012 The UK economy contracted by 0.2% in the last three months of 2011, official figures show. Read More...

Base rate forecast to remain unchanged until 2016

Updated: 16th January 2012 - First Published: 16th January 2012 The base rate of interest could remain at its record low of 0.5% until 2016, according to the latest predictions from a respected think-tank. Read More...

Base rate approaches three years at 0.5%

Updated: 06th February 2012 - First Published: 12th January 2012 The base rate of interest is approaching three years at a historical low of 0.5% after the Monetary Policy Committee’s (MPC) announcement at noon today. Read More...

UK growth revised upwards from 0.5% to 0.6%

Updated: 22nd December 2011 - First Published: 22nd December 2011 Growth in the UK economy during the third quarter of the year has been revised upwards from 0.5% to 0.6%. Read More...

Bank members united over rates and QE

Updated: 21st December 2011 - First Published: 21st December 2011 Members of the Bank of England’s rate setting committee voted unanimously to keep interest rates on hold earlier this month. Read More...

Few signs of festive cheer for consumers

Updated: 20th December 2011 - First Published: 20th December 2011 Consumer confidence increased for the first time in six months in November, but there remained few signs of Christmas cheer. Read More...

Home movers urged to research ‘fragmented’ market

Updated: 19th December 2011 - First Published: 19th December 2011 Anyone hoping to buy a house next year has been warned to carefully research the make-up of their target market following the emergence of a series of ‘highly complex micro-markets’. Read More...

Inflation falls from 5% to 4.8%

Updated: 13th December 2011 - First Published: 13th December 2011 The Consumer Prices Index (CPI) fell from 5% to 4.8% in November, figures from the Office for National Statistics (ONS) show. Read More...

Bank rate and QE held by Bank of England

Updated: 14th December 2012 - First Published: 08th December 2011 The Bank of England has confirmed that it has held interest rates at 0.5%. Read More...

Weak retail sales cause concern

Updated: 06th December 2011 - First Published: 06th December 2011 People are keeping their cards and cash close to their chests in the run up to the festive season, sales figures show. Read More...

Chancellor delivers wide-ranging Autumn Statement

Updated: 29th November 2011 - First Published: 29th November 2011 The Chancellor of the Exchequer George Osborne announced an increase in the state pension as part of a wide-ranging Autumn Statement this afternoon. Read More...

Unanimous decision to keep QE status quo

Updated: 23rd November 2011 - First Published: 23rd November 2011 Policy makers at the Bank of England voted unanimously to leave interest rates and quantitative easing (QE) unchanged in November. Read More...

Bank unmoved over interest rates and QE

Updated: 10th November 2011 - First Published: 10th November 2011 The Bank of England has decided against sanctioning any more quantitative easing or changing interest rates. Read More...

Housing market sees rise in activity

Updated: 08th November 2011 - First Published: 08th November 2011 Activity in the housing market picked up in October, as sales levels increased and demand from homebuyers edged higher. Read More...

UK growth better than expected

Updated: 01st November 2011 - First Published: 01st November 2011 The UK economy picked up by 0.5% in the third quarter of the year, defying expectations. Read More...

Ministers thrash out Eurozone deal

Updated: 27th October 2011 - First Published: 27th October 2011 Shares across the Eurozone improved this morning after European Union ministers announced a resolution to the debt crisis talks. Read More...

Bank injects another £75 billion into the economy

Updated: 06th October 2011 - First Published: 06th October 2011 The Bank of England is to inject another £75 billion into the economy through its Quantitative Easing (QE) programme. Read More...

Rates held at 0.5%, BoE confirms

Updated: 08th September 2011 - First Published: 08th September 2011 The Bank of England has confirmed that it has frozen interest rates at 0.5% once again. Read More...

UK hit by fall in retail sales in August

Updated: 06th September 2011 - First Published: 06th September 2011 People kept their money close to their chests in August as spending fell, figures from the British Retail Consortium (BRC) show. Read More...

UK growth forecast nudged down by BCC

Updated: 01st September 2011 - First Published: 01st September 2011 The British Chambers of Commerce (BCC) has downgraded its prediction for growth in the UK in 2011 and 2012. Read More...

Call for base rate to remain low as economy stalls

Updated: 26th August 2011 - First Published: 26th August 2011 Experts have suggested interest rates must stay low for an extended period of time after one-off factors threw the brakes on the economic recovery. Read More...

Property sales hold steady

Updated: 23rd August 2011 - First Published: 23rd August 2011 House sales remained steady in July but were still down on the number sold 12 months earlier. Read More...

Summer lull for new home prices

Updated: 22nd August 2011 - First Published: 22nd August 2011 The average price of a new home fell by 2% in July, compounding the first price fall of 2011 that was witnessed in June. Read More...

Inflation headache gets worse for savers

Updated: 16th August 2011 - First Published: 16th August 2011 The inflation headache for savers got worse this morning, as figures show that the Consumer Prices Index has risen from 4.2% to 4.4%. Read More...

Housing market insulated from financial crisis

Updated: 15th August 2011 - First Published: 15th August 2011 The UK housing market will remain insulated from the jitters seen in the global financial markets, it has been suggested. Read More...

Bank holds rates at 0.5%

Updated: 04th August 2011 - First Published: 04th August 2011 There were no surprises from the Bank of England at noon today, as it announced that the bank rate will remain on hold. Read More...

One off events affect economic growth

Updated: 15th June 2017 - First Published: 26th July 2011 One off events affected the UK economy in the second quarter of the year, as economic growth slumped to 0.2%. Read More...

Rate change unlikely until 2012 (at the earliest!)

Updated: 21st July 2011 - First Published: 21st July 2011 The Bank of England is unlikely to start raising interest rates until next year at the earliest, experts have suggested. Read More...

Rate setters maintain their positions

Updated: 20th July 2011 - First Published: 20th July 2011 A rise in interest rates still appears some way away after minutes from the Bank of England’s latest rate setting meeting showed the voting remained unchanged on the previous month. Read More...

MPC holds interest rates at 0.5%

Updated: 07th July 2011 - First Published: 07th July 2011 The Bank of England’s rate-setting committee has confirmed that interest rates will remain on hold at 0.5%. Read More...

House sales soar as prices slip lower

Updated: 27th June 2011 - First Published: 27th June 2011 The housing market sprung back into life in June after sellers dropped their prices slightly to clinch a deal. Read More...

Rates will hold for longer without Sentance

Updated: 22nd June 2011 - First Published: 22nd June 2011 The prospect of a rise in interest rates looks to have declined yet further as minutes show a new member of the Bank of England’s committee voted for a freeze this month. Read More...

Base rate remains on hold

Updated: 09th June 2011 - First Published: 09th June 2011 There were no surprises from the Bank of England today, after it announced that interest rates are to remain on hold at 0.5%. Read More...

Interest rates to hit 2.75% by 2012, says BCC

Updated: 31st May 2011 - First Published: 31st May 2011 Interest rates will rise this August, with a number of further increases taking the base rate to 2.75% by the end of next year, the British Chambers of Commerce (BCC) has predicted. Read More...

Bank holidays see consumer confidence soar

Updated: 27th May 2011 - First Published: 27th May 2011 Confidence amongst consumers enjoyed an almost unprecedented jump in May after sunny bank holidays and the Royal Wedding put the feel-good factor back into Britain. Read More...

Three-way split remains at the Bank

Updated: 18th May 2011 - First Published: 18th May 2011 The three way-split in the Bank of England continued to rear its head this month, it has been revealed. Read More...

House prices bounce higher as £1m-plus sales soar

Updated: 13th May 2011 - First Published: 13th May 2011 House prices bounced higher in April as wealthy homeowners pushed through purchases to beat the stamp duty rise on properties over £1 million. Read More...

Inflation likely to hit 5% later this year

Updated: 11th May 2011 - First Published: 11th May 2011 Inflation is likely to hit the 5% mark later this year, the Governor of the Bank of England, Mervyn King, has announced. Read More...

Weak growth could keep rates on hold all year

Updated: 06th May 2011 - First Published: 06th May 2011 Weak growth in the economy could mean that interest rates remain on hold for the rest of 2011. Read More...

Rates frozen again by the Bank of England

Updated: 06th February 2012 - First Published: 05th May 2011 The Bank of England has announced that the base rate of interest will remain at the record low of 0.5% for another month at the very least. Read More...

Smart money on a summer base rate rise

Updated: 03rd May 2011 - First Published: 03rd May 2011 Low interest rates will finally be increased this summer according to a third of Britons, ending a more than two year period at a record low 0.5%. Read More...

Has the base rate rise gone on the backburner?

Updated: 27th April 2011 - First Published: 27th April 2011 A rise in the base rate of interest still seems some months away after growth in the economy climbed only slightly higher in the first three months of the year. Read More...

Property market predicted to prosper

Updated: 19th April 2011 - First Published: 19th April 2011 House prices have edged up slightly in the first three months of the year, as a result of recent falls in inflation and unemployment boosting consumer confidence. Read More...

Bank warned not to increase interest rates yet

Updated: 18th April 2011 - First Published: 18th April 2011 The Bank of England has been warned that increasing interest rates prematurely could have disastrous consequences. Read More...

Interest rates remain on hold

Updated: 08th April 2011 - First Published: 07th April 2011 The Bank of England has announced that UK interest rates have been frozen at 0.5% again. Read More...

The bite-size budget

Updated: 01st May 2014 - First Published: 25th March 2011 George Osborne’s second budget as Chancellor has been widely touted as the budget for growth and business. Read More...

Buyer delight as home values slide lower

Updated: 23rd March 2011 - First Published: 23rd March 2011 Property values have slumped to an eight month low after having fallen every month since July last year, new research has revealed. Read More...

Bank warned over interest rate rise

Updated: 14th March 2011 - First Published: 14th March 2011 The Bank of England has been urged not to increase the base rate of interest, with warnings that it could derail any growth prospects. Read More...

Bank warned against base rate hike

Updated: 09th March 2011 - First Published: 09th March 2011 The Bank of England has been warned against rapidly increasing interest rates ahead of Thursday’s base rate decision announcement. Read More...

Shadow MPC votes for rate rise

Updated: 09th March 2011 - First Published: 08th March 2011 The shadow monetary policy committee, a group of independent economists who attempt to second-guess the actions of the real Bank of England rate-setters, has voted in favour of a rise in interest rates later this week. Read More...

Contraction in economy worse than first thought

Updated: 25th February 2011 - First Published: 25th February 2011 The UK economy contracted by more than was previously thought in the last three months of 2010. Read More...

Three MPC members vote for Base Rate Rise

Updated: 23rd February 2011 - First Published: 23rd February 2011 A rise in the base rate of interest looks to be a step closer after it was revealed that three Bank of England policymakers voted for a rise earlier this month. Read More...

Could base rate rise in May?

Updated: 16th February 2011 - First Published: 16th February 2011 The governor of the Bank of England has dropped a heavy hint that interest rates could begin to rise in May. Read More...

Bank opts to freeze interest rates once more

Updated: 10th February 2011 - First Published: 10th February 2011 The Bank of England has announced that the base rate of interest will remain at 0.5% for another month at least. Read More...

Base rate expected to rise in the spring

Updated: 09th February 2011 - First Published: 09th February 2011 The base rate of interest will not start to rise until the spring, according to the latest forecast from the UK’s leading business organisation. Read More...

Consumer confidence takes an ‘astonishing’ drop

Updated: 28th January 2011 - First Published: 28th January 2011 The rise in VAT has contributed to an ‘astonishing’ fall in consumer confidence, according to new figures. Read More...

Second MPC member votes for interest rate rise

Updated: 26th January 2011 - First Published: 26th January 2011 A second member of the Bank of England’s Monetary Policy Committee (MPC) has voted to increase the base rate of interest. Read More...

Economic slump hits interest rate hike hopes

Updated: 25th January 2011 - First Published: 25th January 2011 Any chance that interest rates might be about to be increased by the Bank of England appear to have been quashed by a surprise contraction in the UK economy. Read More...

Christmas retail sales disappoint

Updated: 21st January 2011 - First Published: 21st January 2011 Retail sales over Christmas failed to rise year-on-year for the first time since 1998 last month. Read More...

Inflation soars to 3.7%

Updated: 21st April 2017 - First Published: 18th January 2011 Savers face a real battle to find value for money, after figures showed that inflation increased to 3.7% in December. Read More...

Bank urged to hold it's nerve on interest rates

Updated: 18th January 2011 - First Published: 17th January 2011 The Bank of England has been urged to hold its nerve on interest rates, despite the threat of rising inflation. Read More...

Bank of England holds firm on base rate

Updated: 13th January 2011 - First Published: 13th January 2011 The base rate of interest will remain at its historic low of 0.5% for at least another month, the Bank of England has revealed. Read More...

VAT jumps from 17.5% to 20%

Updated: 25th April 2017 - First Published: 04th January 2011 The rate of VAT has jumped from 17.5% to 20% today, a move the Government hopes will help to reduce the UK’s vast debts. Read More...

Economic growth revised downwards

Updated: 22nd December 2010 - First Published: 22nd December 2010 The economic outlook has finished the year on something of a low point, after the Office for National Statistics (ONS) revised down growth between June and September. Read More...

MPC split remains on base rate and QE

Updated: 22nd December 2010 - First Published: 22nd December 2010 There continues to be a three way split in the Bank of England’s Monetary Policy Committee (MPC), although the majority continue to vote for a freeze in rates. Read More...

Base rate approaches two years at 0.5%

Updated: 09th December 2010 - First Published: 09th December 2010 The base rate of interest is approaching two years at the historical low of 0.5% after it was confirmed the measure has been frozen for another month. Read More...

Tough month for retailers as Christmas approaches

Updated: 07th December 2010 - First Published: 07th December 2010 Retailers endured a ‘tough’ month in November leaving the Christmas season delicately poised. Read More...

Trade confidence hits an eight month high

Updated: 07th December 2010 - First Published: 07th December 2010 There is a growing belief that UK trade will improve in the next 12 months, as confidence has reached an eight month high in the market. Read More...

BCC revises growth forecast

Updated: 06th December 2010 - First Published: 06th December 2010 The UK economy will not grow as quickly as was expected next year, but will expand at a greater pace in 2012, according to the British Chambers of Commerce (BCC). Read More...

EU ministers rubber stamp Ireland bail-out

Updated: 29th November 2010 - First Published: 29th November 2010 European Ministers have given the seal of approval to a £72 billion rescue package for the Irish Republic. Read More...

Economy recovering better than expected

Updated: 29th November 2010 - First Published: 29th November 2010 The Office for Budget Responsibility (OBR) says the UK economy has recovered more strongly since the spring than it had originally expected. Read More...

Green light for Ireland rescue package

Updated: 22nd November 2010 - First Published: 22nd November 2010 A rescue package aimed at bailing Ireland out of the financial mess it finds itself in has been given the go-ahead by European finance ministers. Read More...

Retail sales rise

Updated: 18th November 2010 - First Published: 18th November 2010 Retail sales in the UK rose for the first time in three months in October, although figures are down year-on-year. Read More...

Bank of England minutes show three way split

Updated: 18th November 2010 - First Published: 17th November 2010 Minutes from the Bank of England’s latest meeting have revealed a three way split in opinion between policymakers. Read More...

No change as base rate remains at 0.5%

Updated: 04th November 2010 - First Published: 04th November 2010 In a move that will surprise nobody, the Bank of England has confirmed the base rate of interest will be frozen for another month at least. Read More...

Economy grows at faster than expected rate

Updated: 26th October 2010 - First Published: 26th October 2010 The economy expanded by 0.8% between July and September this year, far faster than was predicted. Read More...

UK predicted to avoid double dip recession

Updated: 18th October 2010 - First Published: 18th October 2010 The UK economy has bounced back from recession and should avoid a double dip, according to the latest forecasts. Read More...

Interest rates marooned at 0.5%

Updated: 07th October 2010 - First Published: 07th October 2010 The Bank of England has announced that base rate of interest will remain at 0.5% for at least another month. Read More...

Consumers expect base rate to rise within a year

Updated: 27th September 2010 - First Published: 27th September 2010 The Bank of England’s base rate of interest may have been stuck at 0.5% since March 2009, but expectations for a rise within the next 12 months are increasing. Read More...

UK banks could be broken up

Updated: 24th September 2010 - First Published: 24th September 2010 The UK’s financial institutions face the possibility of being broken up as a result of the coalition Government’s inquiry into the banking sector. Read More...

Sentance the lone voice for rate rise

Updated: 22nd September 2010 - First Published: 22nd September 2010 Andrew Sentance is fast finding himself to be the lone voice in nine as his vote to increase interest rates fell on deaf ears. Read More...

Base rate remains at 0.5%

Updated: 09th September 2010 - First Published: 09th September 2010 The Bank of England delivered no surprises at noon today, as it announced that the base rate of interest will remain at 0.5% for at least another month. Read More...

Surprise rise in economic growth

Updated: 27th August 2010 - First Published: 27th August 2010 The UK economy grew by more than originally thought in the second quarter of the year, according to the latest official figures. Read More...

Bank member votes for rate rise to no avail

Updated: 18th August 2010 - First Published: 18th August 2010 A member of the Bank of England’s Monetary Policy Committee (MPC) voted to increase interest rates for the third month in a row earlier this month. Read More...

Chancellor: Choppy recovery prognosis is right

Updated: 17th August 2010 - First Published: 17th August 2010 The Chancellor of the Exchequer has said that he agrees with Mervyn King’s prediction that the economic recovery will be a choppy one. Read More...

Inflation holds steady way above 2% target

Updated: 17th August 2010 - First Published: 17th August 2010 The rate of inflation is proving to be resolute, with the measure falling by a mere 0.10% to 3.10% in the last month. Read More...

House prices predicted to drop

Updated: 12th August 2010 - First Published: 12th August 2010 UK house prices are thought to be on the cusp of further falls, according to the latest forecast from Savills. Read More...

Double dip recession fears grow

Updated: 11th August 2010 - First Published: 11th August 2010 Fears that the UK could slip back into recession have been heightened after the Bank of England downgraded its forecast for economic growth. Read More...

Recession fears return as house prices dip

Updated: 10th August 2010 - First Published: 10th August 2010 There are fears that the economy could slip back into recession after new data suggested house prices had fallen for the first time in a year in July. Read More...

UK economy registers significant growth

Updated: 23rd July 2010 - First Published: 23rd July 2010 The UK economy grew by 1.1% in the second quarter of the year, significantly more than was expected. Read More...

Retail sales rise ahead of Q2 growth figures

Updated: 22nd July 2010 - First Published: 22nd July 2010 Retail sales in the UK rose strongly in June, fuelling hopes that tomorrow’s gross domestic product (GDP) figures will show strong growth. Read More...

Bank member votes for interest rate rise again

Updated: 21st July 2010 - First Published: 21st July 2010 A member of the Bank of England’s Monetary Policy Committee (MPC) voted to increase the base rate of interest for the second consecutive month. Read More...

Groundhog Day as interest rates are held once more

Updated: 08th July 2010 - First Published: 08th July 2010 The base rate of interest has been frozen at its historical low point of 0.5% once again. Read More...

Figures suggest continued UK growth

Updated: 06th July 2010 - First Published: 06th July 2010 The UK economy saw further growth in the second quarter of 2010, building on improvements seen in the first three months of the year, figures suggest. Read More...

Emergency Budget hits consumer confidence

Updated: 30th June 2010 - First Published: 30th June 2010 The new coalition Government’s emergency Budget has hit consumer confidence, new figures show. Read More...

Government faces demands before Budget

Updated: 18th June 2010 - First Published: 18th June 2010 A number of associations have called on the coalition Government to take care of their interests before next week’s emergency Budget. Read More...

Retail sales rise more than expected

Updated: 17th June 2010 - First Published: 17th June 2010 Retail sales defied expectations in May, as the build up to the World Cup saw cash registers ring up and down the country. Read More...

UK growth forecast cut by OBR

Updated: 14th June 2010 - First Published: 14th June 2010 The government’s new independent fiscal watchdog has announced that the UK will grow by less than was forecast by the previous administration. Read More...

Savers’ epic search for good rates goes on….

Updated: 20th July 2010 - First Published: 10th June 2010 Savers face another month of frantic searching for the best savings rates, after the Bank of England’s Monetary Policy Committee (MPC) today voted to keep the official bank base rate of interest at 0.5%. Read More...

FTSE slips after deficit warning

Updated: 08th June 2010 - First Published: 08th June 2010 The FTSE 100 index slipped below the 5,000 mark this morning after new fears over the state of the UK’s finances emerged. Read More...

Inflation rises to almost double Government target

Updated: 18th May 2010 - First Published: 18th May 2010 The rate of inflation surged to 3.7% in April, almost double the Government’s long term target of 2%, figures from the Office of National Statistics show. Read More...

Emergency Budget date unveiled

Updated: 17th May 2010 - First Published: 17th May 2010 A new emergency Budget is to be unveiled on the 22 June, the new Chancellor of the Exchequer, George Osborne, has announced. Read More...

Coalition Government: What does it mean for you?

Updated: 14th May 2010 - First Published: 13th May 2010 Moneyfacts.co.uk explains how this new Government will shape the economic, tax, pensions and business landscapes over the coming five years. Read More...

Consumer confidence holds steady

Updated: 13th May 2010 - First Published: 13th May 2010 Consumer confidence rose slightly in April, and is now considerably higher than it was this time last year. Read More...

Interest rates remain at record low

Updated: 10th May 2010 - First Published: 10th May 2010 The Bank of England’s Monetary Policy Committee (MPC) has voted to keep the official bank base rate of interest at 0.5% for the fourteenth month in a row. Read More...

Sterling tumbles as hung parliament is confirmed

Updated: 07th May 2010 - First Published: 07th May 2010 The pound tumbled to a 12 month low this morning, as the UK woke up to the first hung parliament in a number of years. Read More...

General election 2010: what it means for you

Updated: 11th October 2017 - First Published: 05th May 2010 The general election is upon us, but do you know what impact the possible results could have on your money, the wider economy or even your business? If not, rest easy as Moneyfacts.co.uk leads you through the policy minefield. Read More...

Boost for Brown as 1% GDP growth is predicted

Updated: 30th April 2010 - First Published: 30th April 2010 Gordon Brown has been given a boost this morning after a think tank predicted that the economy would grow by 1% this year and more in 2011 and 2012. Read More...

Economic growth in the UK slows to 0.2%

Updated: 11th October 2017 - First Published: 23rd April 2010 The economic recovery slowed slightly during the first three months of 2010, the first official estimates have reported. Read More...

Easter boosts high street sales

Updated: 22nd April 2010 - First Published: 22nd April 2010 The Easter period helped boost retail sales during March, following the strong performance recorded during February. Read More...

Inflation levels concern Bank of England

Updated: 21st April 2010 - First Published: 21st April 2010 The Bank of England has admitted that rising inflation – currently at 3.4%, well above the government’s 2% target – is a source of some concern. Read More...

Homeowners enjoy £15K rise in property values

Updated: 14th April 2010 - First Published: 14th April 2010 Homeowners in the UK have seen the value of their property rise by almost £15K over the past 12 months, the latest government data has revealed. Read More...

House prices continue to rise

Updated: 13th April 2010 - First Published: 13th April 2010 Confidence in the property market continues to rise along with house prices, after it was revealed the number of sellers putting their homes on the market last month reached the highest level since May 2007. Read More...

Interest rates remain marooned at 0.5 per cent

Updated: 08th April 2010 - First Published: 08th April 2010 UK interest rates will remain at a record low 0.5 per cent for at least another month, the Bank of England has confirmed. Read More...

UK avoids double dip recession, for now

Updated: 07th April 2010 - First Published: 07th April 2010 The recovery of the UK economy is still on course and the possibility of a double dip recession has been avoided so far, according to the British Chambers of Commerce. (BCC). Read More...

Consumers and businesses warned of tax changes

Updated: 31st March 2010 - First Published: 31st March 2010 Consumers and businesses have been urged to make themselves aware of new tax penalties and changes that are to be introduced from tomorrow. Read More...

Economy growth revised upwards to 0.4 per cent

Updated: 30th March 2010 - First Published: 30th March 2010 The economy exited the recession at a faster pace than was originally predicted, figures from the Office for National Statistics (ONS) have revealed. Read More...

Banks will repay taxpayer in full, says BBA

Updated: 18th March 2010 - First Published: 18th March 2010 The British Banking Association (BBA) has said that its members are committed to repaying taxpayers in full for their support during the financial crisis. Read More...

Brown reveals Budget date

Updated: 10th March 2010 - First Published: 09th March 2010 This year's Budget will be delivered on Wednesday 24 March, the Prime Minister, Gordon Brown, has confirmed... Read More...

Base rate freeze confirms year at 0.5 per cent

Updated: 04th March 2010 - First Published: 04th March 2010 The base rate of interest will remain at 0.5 per cent for at least another month, meaning the measure has now spent a year at this record low... Read More...

HSBC posts £4.7 billion profit

Updated: 01st March 2010 - First Published: 01st March 2010 Europe’s biggest bank has posted annual profits of $7.1 billion (£4.7 billion) for 2009, a fall of almost a quarter from 2008... Read More...

Consumer confidence rises again

Updated: 26th February 2010 - First Published: 26th February 2010 Consumer confidence improved again during February, with sentiment on both general and personal circumstances healthier than it was in January... Read More...

Lloyds Banking Group posts £6.3 billion loss

Updated: 26th February 2010 - First Published: 26th February 2010 Lloyds Banking Group has announced that it made an operating loss of £6.3 billion last year... Read More...

RBS reports £3.6 billion loss

Updated: 25th February 2010 - First Published: 25th February 2010 The Royal Bank of Scotland (RBS) has announced group losses of £3.6 billion in 2009, although it insists it is taking significant steps to recovery... Read More...

Base rate and QE decisions unanimous

Updated: 19th February 2010 - First Published: 17th February 2010 The decisions to freeze the base rate of interest at 0.5 per cent and not to expand the programme of quantitative easing (QE) were made unanimously... Read More...

Base rate at 0.5 per cent for almost a year

Updated: 04th February 2010 - First Published: 04th February 2010 The Bank of England’s base rate of interest will remain at its current record low of 0.5 per cent for another month at least... Read More...

More than £16 billion in benefits going unclaimed

Updated: 06th February 2012 - First Published: 03rd February 2010 A group of charities has called on the Government to set ambitious targets to improve the take up of benefits, after it emerged that over £16 billion is going unclaimed each year... Read More...

UK exits recession

Updated: 27th January 2010 - First Published: 26th January 2010 The UK has officially come out of recession, after figures showed output increased by 0.1 per cent in the final quarter of last year. Read More...

House prices rise 273% in 50 years

Updated: 12th April 2017 - First Published: 21st January 2010 Buying a house is less affordable now than it was fifty years ago, according to a far reaching analysis of the UK housing market... Read More...

Recession said to be at an end

Updated: 13th January 2010 - First Published: 13th January 2010 Evidence that the recession is at an end is starting to emerge, according to the latest forecast from the National Institute of Economic and Social Research. Read More...

House price rises in seasonal slowdown

Updated: 12th January 2010 - First Published: 12th January 2010 House prices continued to rise in December but at a slower pace than in either October or November, the latest survey from the Royal Institution of Chartered Surveyors (RICS) has revealed. Read More...

No surprises as base rate frozen at historic low

Updated: 07th January 2010 - First Published: 07th January 2010 The Bank of England’s Monetary Policy Committee (MPC) delivered no surprises today, announcing that the base rate of interest will remain frozen at 0.5 per cent. Read More...

6th successive quarter of recession confirmed

Updated: 22nd December 2009 - First Published: 22nd December 2009 The extent of the contraction in the UK economy during the third quarter of 2009 was not as marked as first thought, although figures confirm that the country has been in recession for six consecutive quarters... Read More...

Record Christmas spending predicted

Updated: 11th December 2009 - First Published: 11th December 2009 Consumers are set to ensure a bumper Christmas for British businesses in the coming month, with £24,000 a second to be withdrawn every second at the peak of the festive season... Read More...

No surprises as base rate held once more

Updated: 10th December 2009 - First Published: 10th December 2009 The Bank of England’s Monetary Policy Committee (MPC) has announced that the base rate of interest has been frozen at a historic low of 0.5 per cent for the ninth month in succession... Read More...

Darling delivers Pre-Budget Report

Updated: 09th December 2009 - First Published: 09th December 2009 Alistair Darling has delivered his Pre Budget Report (PBR) with his stated overriding aim to secure the recovery of the economy rather than wreck it... Read More...

Huge bank bail outs deemed to be justified

Updated: 04th December 2009 - First Published: 04th December 2009 The £850 billion bailout of the UK’s banks has been deemed justified, although the final cost to the tax payer will not be known for years, the National Audit Office (NAO) has said... Read More...

Imminent Pre-Budget Report stirs debate

Updated: 04th December 2009 - First Published: 04th December 2009 Various groups have called on the Government to help homeowners, pensioner and savers ahead of next week’s Pre-Budget Report... Read More...

Economy contraction not as marked as thought

Updated: 04th December 2009 - First Published: 26th November 2009 The UK economy did not contract as markedly as first thought in the three months between July and September, according to figures from the Office for National Statistics (ONS)... Read More...

Boost for high street sales

Updated: 27th November 2009 - First Published: 26th November 2009 The economy has been dealt some much needed good news with figures showing that retail sales are growing at their fastest pace for two years, while a further improvement is expected in the run up to Christmas... Read More...

Property prices predicted to rise

Updated: 19th November 2009 - First Published: 19th November 2009 Confidence in the housing market continues to improve, after Rightmove revealed more than half of home movers expect house prices to be higher in 12 months time. Read More...

High street boost for economy

Updated: 16th November 2009 - First Published: 16th November 2009 Retailers have received some welcome encouragement after sales in London in October increased 4.2% on a like for like basis compared with a 2.6% fall seen a year earlier... Read More...

Barclays and HSBC reveal profits

Updated: 10th November 2009 - First Published: 10th November 2009 Barclays has revealed pre tax profits of £4,542 million for the first nine months of the year, despite being down almost a fifth on the figure it reported in 2008... Read More...

RBS posts significant loss for last quarter

Updated: 06th November 2009 - First Published: 06th November 2009 The Royal Bank of Scotland Group has posted heavy losses for the third quarter of 2009, reporting a pre-tax loss of £2.2 billion... Read More...

Base rate held but QE receives further boost

Updated: 06th November 2009 - First Published: 05th November 2009 The Bank of England base rate of interest has been frozen at 0.5 per cent for the eight month in succession... Read More...

RBS and Lloyds to sell off branches in shake up

Updated: 03rd November 2009 - First Published: 03rd November 2009 Hundreds of branches operated by Royal bank of Scotland (RBS) and Lloyds Banking Group are to be sold off as part of the overhaul of the UK banking system... Read More...

Consumer confidence reaches 18 month high

Updated: 02nd November 2009 - First Published: 02nd November 2009 Consumer confidence has reached an 18 month high, reflecting improving sentiment on job prospects and personal finance... Read More...

UK plunged into deepest recession on record

Updated: 23rd October 2009 - First Published: 23rd October 2009 The UK is currently in the midst of its longest ever recession, after figures showed that the economy contracted once again between July and September... Read More...

Retail sales remain flat

Updated: 22nd October 2009 - First Published: 22nd October 2009 Retail sales in the UK last month were unchanged from August, figures from the Office for National Statistics (ONS) have revealed. Read More...

Base rate decision made unanimously

Updated: 21st October 2009 - First Published: 21st October 2009 The decision to freeze the base rate of interest at the all time low level of 0.5 per cent was made unanimously, minutes from the Monetary Policy Committee’s (MPC) last meeting have revealed... Read More...

BoE Governor: size of bank bailout ‘breathtaking’

Updated: 21st October 2009 - First Published: 21st October 2009 The Governor of the Bank of England has described the extent of the bailout of the UK’s financial institutions as breathtaking... Read More...

UK growth likely to be ‘anaemic’

Updated: 19th October 2009 - First Published: 19th October 2009 Hopes that the economy is set to make a full and concerted upturn have been dealt a blow, with a well respected group predicting a drawn out and anaemic recovery... Read More...

Triple boost for the UK

Updated: 13th October 2009 - First Published: 13th October 2009 Better times seem to be just around the corner after a raft of economic surveys delivered positive news... Read More...

Base rate held again

Updated: 08th October 2009 - First Published: 08th October 2009 The Bank of England base rate of interest has been frozen at a historical low of 0.5 per cent for the seventh consecutive month, the Monetary Policy Committee (MPC) has announced... Read More...

Consumers increasingly confident on economy

Updated: 07th October 2009 - First Published: 07th October 2009 Consumers are increasingly confident about the prospects of the economy and their personal finance situations, with general feeling now at its highest level since April 2008. Read More...

Light at the end of the tunnel for finance firms

Updated: 05th October 2009 - First Published: 05th October 2009 Hopes of an economic recovery have been raised by that news the financial organisations have seen a net rise in business levels for the first time in two years... Read More...

Consumer confidence soars to 20 month high

Updated: 30th September 2009 - First Published: 30th September 2009 Having appeared to have reached something of a plateau, consumer confidence has soared to its highest level since January 2008.... Read More...

Economy contraction not as marked as first thought

Updated: 29th September 2009 - First Published: 29th September 2009 Having been revised downwards a month ago, the fall in Gross Domestic Product (GDP) in the second quarter of the year has been changed once more... Read More...

Economic outlook brightens

Updated: 11th October 2017 - First Published: 23rd September 2009 The UK economy will have emerged from recession by the end of the year, according to the latest prediction from the CBI... Read More...

Property prices rise again

Updated: 11th September 2009 - First Published: 11th September 2009 The worst of the housing market problems are thought to be behind us after it was revealed the average price of all residential property transactions completed in England and Wales increased for the fourth month in a row in August... Read More...

Base rate held at 0.5%

Updated: 10th September 2009 - First Published: 10th September 2009 The Bank of England’s Monetary Policy Committee (MPC) has voted to maintain the official bank base rate of interest at 0.5% for the sixth consecutive month... Read More...

Brighter times ahead for UK economy

Updated: 03rd July 2017 - First Published: 09th September 2009 The dark clouds over the UK economy are thought to be dispersing, after a number of surveys reported encouraging findings during the month of August... Read More...

GDP fall not as marked as thought

Updated: 28th August 2009 - First Published: 28th August 2009 The fall in UK Gross Domestic Product (GDP) in the second quarter of the year was not as marked as previously thought, the Office for National Statistics (ONS) has said... Read More...

CBI calls for apprenticeships funding

Updated: 24th August 2009 - First Published: 24th August 2009 More must be done to establish new apprenticeships, with a chunk of the Government’s recruitment subsidy used to fund it, the CBI has said... Read More...

Buy-to-let fraud signals loss at Chelsea BS

Updated: 21st August 2009 - First Published: 21st August 2009 The UK’s fourth largest building society has revealed that large scale fraud by buy-to-let mortgage customers has caused it to lose some £41 million... Read More...

Coventry BS reports strong half year performance

Updated: 21st August 2009 - First Published: 21st August 2009 Coventry Building Society has posted strong profits for the first half of 2009, seemingly avoiding many of the problems encountered by its rivals... Read More...

Retail sales continue resurgence

Updated: 20th August 2009 - First Published: 20th August 2009 Retail sales in the UK rose by 0.4 per cent in July, taking the annual gain to 3.3 per cent, providing further hope that the worst of recession has passed by... Read More...

Split decision over QE increase

Updated: 19th August 2009 - First Published: 19th August 2009 Evidence of differing opinion on the scale of the recession within the Monetary Policy Committee (MPC) has come to light after minutes of its last meeting showed a split decision on the scale of a further increase in quantitative easing (QE)... Read More...

Retail sales rise again

Updated: 11th August 2009 - First Published: 11th August 2009 Retail sales rose last month, as sales of indoor furniture and homewares were boosted by the UK’s mixed summer weather, according to the British Retail Consortium (BRC). Read More...

RBS posts profit but bad debts soar

Updated: 07th August 2009 - First Published: 07th August 2009 The Royal Bank of Scotland Group has announced a pre-tax profit of £15 million in the first six months of 2009, but has written off billions in bad debts during the period. Read More...

Base rate frozen again, QE up

Updated: 06th August 2009 - First Published: 06th August 2009 The Monetary Policy Committee (MPC) has announced that the Bank of England’s base rate of interest has been frozen at 0.5 per cent for the fifth month in succession... Read More...

Lloyds posts significant loss

Updated: 05th August 2009 - First Published: 05th August 2009 Lloyds Banking Group has posted a huge loss of £4 billion in its results for the first six months of 2009, with much of the damage caused by its takeover of HBOS in January. Read More...

Barclays and HSBC announce profits

Updated: 04th August 2009 - First Published: 04th August 2009 Barclays has announced pre-tax profits of almost £3 billion in its financial results for the first six months of 2009, while HSBC reported half year profits of $5 billion... Read More...

BCC calls for step up in quantitative easing

Updated: 04th August 2009 - First Published: 04th August 2009 The Bank of England has been urged to step up the pace of quantitative easing, ahead of tomorrow’s Monetary Policy Committee meeting... Read More...

Northern Rock reports heavy losses

Updated: 04th August 2009 - First Published: 04th August 2009 The state owned Northern Rock bank has reported heavy pre-tax losses of £724.2 million for the first six months of the year, compared with a loss of £585.4 million during the same period of 2008... Read More...

Unpaid students to deliver boost to UK economy

Updated: 04th August 2009 - First Published: 31st July 2009 The UK economy is set to benefit to the tune of over £260 million this summer, as an army of students totalling hundreds of thousands will work for free in a bid to boost their CVs. Read More...

Banking changes ‘largely cosmetic,’ say MPs

Updated: 31st July 2009 - First Published: 31st July 2009 A group of MPs has released its final report following its evidence sessions on the banking crisis, labelling changes made to the system as ‘largely cosmetic.’ Read More...

June brings welcome rise in retail sales

Updated: 04th August 2009 - First Published: 24th July 2009 Hopes that the worst of the recession has been and gone have been boosted by a 1.2 per cent monthly increase in UK shop sales throughout June. Read More...

Base rate freeze decision unanimous

Updated: 04th August 2009 - First Published: 22nd July 2009 The Bank of England’s decision to freeze the base rate of interest at 0.5 per cent was unanimous, minutes of the Monetary Policy Committee (MPC) show. Read More...

BRC – high streets need nurturing

Updated: 04th August 2009 - First Published: 21st July 2009 The British Retail Consortium (BRC) has said that UK high streets need to be actively planned, managed and nurtured if a positive, post recession future is to be achieved. Read More...

Slight economic growth in 2010 predicted

Updated: 04th August 2009 - First Published: 20th July 2009 The UK economy is set to contract by 4.5 per cent this year, before recording a slight rise in 2010, a financial report has said. Read More...

Consumer Panel publishes annual report

Updated: 04th August 2009 - First Published: 16th July 2009 In its annual report, the body that ensures the Financial Services Authority (FSA) regulates the financial services industry in the interest of consumers has said firms which do not treat customers fairly must have strong action taken against them. Read More...

Inflation falls below Bank target

Updated: 14th July 2009 - First Published: 14th July 2009 UK annual inflation the fell in June as the consumer price index (CPI) dropped to 1.8 per cent, down from 2.2 per cent in May. Read More...

Banks to be re-privatised in time

Updated: 13th July 2009 - First Published: 13th July 2009 Taxpayers have been assured that the financial institutions that were nationalised during the banking crisis will revert back to private companies when the time is right. Read More...

New complaints procedure proposed

Updated: 10th July 2009 - First Published: 10th July 2009 The Financial Services Authority (FSA) has published proposals that will enable consumers to see how firms handle complaints. Read More...

Base rate frozen at 0.5 per cent

Updated: 09th July 2009 - First Published: 09th July 2009 The Monetary Policy Committee (MPC) has voted to maintain the base rate of interest at 0.5 per cent for the fourth consecutive month, the Bank of England has announced. Read More...

Government announces financial market reform

Updated: 09th July 2009 - First Published: 08th July 2009 Consumers are to benefit from more protection, while steps will be taken to educate the public to make better informed financial decisions. Read More...

BCC – decline is ‘clearly easing’

Updated: 07th July 2009 - First Published: 07th July 2009 The pace of decline in the UK economy is ‘clearly easing’ but talk of a recovery is premature, according to the British Chambers of Commerce (BCC). Read More...

New employment measures needed – CBI

Updated: 06th July 2009 - First Published: 06th July 2009 An organisation representing some 240,000 UK businesses has proposed radical new employment measures that would offer an alternative to redundancy. Read More...

Government bans credit card cheques

Updated: 02nd July 2009 - First Published: 02nd July 2009 Credit card cheques have been banned as part of measures to protect vulnerable consumers, the Government has said. Read More...

Britons fail to claim billions in benefits

Updated: 25th June 2009 - First Published: 25th June 2009 Figures from the Department of Work and Pensions show that Britons failed to claim up £10.5 billion worth of benefits in 2007-08. Read More...

‘Severe’ downturn now less likely

Updated: 19th June 2009 - First Published: 19th June 2009 The UK’s largest house builder and general construction business has said that the severe downturn scenarios which it had been planned for are now less likely to materialise. Read More...

Base rate decision unanimous

Updated: 17th June 2009 - First Published: 17th June 2009 The decision to freeze the Bank of England’s base rate of interest at a record low 0.5 per cent was a unanimous one, minutes of the Monetary Policy Committee (MPC) meeting show. Read More...

Annual inflation falls again

Updated: 16th June 2009 - First Published: 16th June 2009 The rate of annual inflation in the UK fell again in May, decreasing by 0.1 percentage points to 2.2 per cent. Read More...

UK recovery in 2010 - CBI

Updated: 15th June 2009 - First Published: 15th June 2009 The UK economy is stabilising and the worst of the recession has passed, according to the latest forecast from the CBI. Read More...

Rise in output fuels recovery hopes

Updated: 10th June 2009 - First Published: 10th June 2009 A hint of a turnaround in the economic downturn has been provided by a 0.3 per cent increase in production output between March and April, according to figures from the Office for National Statistics. Read More...

Surprise rise in UK output

Updated: 08th June 2009 - First Published: 08th June 2009 A rise in the output of the UK’s private sector has been recorded for the first time in 13 months in May, according to the latest regional Purchasing Managers Index data. Read More...

Monetary Policy Committee freezes base rate

Updated: 04th June 2009 - First Published: 04th June 2009 The Bank of England’s Monetary Policy Committee (MPC) has voted to maintain the base rate of interest at 0.5 per cent for the third consecutive month. Read More...

Consumer optimism increases again

Updated: 03rd June 2009 - First Published: 03rd June 2009 Consumer confidence increased again in May following a sharp rise in April, although feelings about the present situation are not so optimistic. Read More...

Bank regulation failed – Lords Committee

Updated: 02nd June 2009 - First Published: 02nd June 2009 The House of Lords Economic Affairs Committee has said the current bank regulation system failed in its role of preventing a crisis or at least mitigating its effects. Read More...

Consumer confidence holds steady

Updated: 29th May 2009 - First Published: 29th May 2009 Stoicism appears to be alive and well in the UK despite the testing financial climate, according to latest consumer confidence figures. Read More...

BoE deputy suggests banks pay for bailouts

Updated: 28th May 2009 - First Published: 28th May 2009 It has been suggested that the banks should be made to repay the taxpayer funds that have been used by the Government to prop up the UK’s financial system. Read More...

UK inflation on the wane

Updated: 19th May 2009 - First Published: 19th May 2009 Annual inflation in the UK dropped in April due to falling demand from consumers caused by the economic downturn. Read More...

UK growth round the corner, says investor

Updated: 19th May 2009 - First Published: 19th May 2009 The recession may well be over by the end of 2009 with growth predicted in the UK economy in the first quarter of 2010. Read More...

Minimum wage to rise from October

Updated: 12th May 2009 - First Published: 12th May 2009 Low paid workers aged 22 and over will see minimum wage rise 7p to £5.80 an hour from October Read More...

British banks – we’ll spearhead revival

Updated: 08th May 2009 - First Published: 08th May 2009 The banks and financial services in the UK will be at the centre of the country’s economic recovery, the British Banking Association (BBA) has insisted. Read More...

Minimum wage freeze discouraged

Updated: 08th May 2009 - First Published: 08th May 2009 Calls to freeze the national minimum wage should be ignored, according to the Trade Union Congress (TUC). Read More...

Move discussion forward – BBA

Updated: 04th August 2009 - First Published: 01st May 2009 The British Banking Association (BBA) has spoken out against the Treasury Committee’s report on the economic crisis, which concluded that bankers have made an astonishing mess of the financial system. Read More...

Small business lending increases

Updated: 04th August 2009 - First Published: 01st May 2009 The level of high street bank’s lending to small businesses rose by £271 million in March, according to figures released by the British Banking Association (BBA). Read More...

House price decline easing

Updated: 28th April 2009 - First Published: 27th April 2009 The battered housing market has received a welcome boost with the news that house prices fell just 0.3% over April, the lowest monthly drop in a year. Read More...

Surprise rise in retail sales

Updated: 24th April 2009 - First Published: 24th April 2009 The high street has received a surprise boost after official figures revealed an increase in retail sales last month. Read More...

Budget suggests life begins at 50

Updated: 22nd April 2009 - First Published: 22nd April 2009 It is the older generation that appears to have the most reasons to be cheerful, after Alistair Darling delivered a Budget targeted at supporting those lower income pensioners likely to have seen their earnings from savings fall as a result of recent drop Read More...

Long-term unemployed need funding

Updated: 21st April 2009 - First Published: 21st April 2009 The Government has been urged to inject £2 billion into new work schemes to help the long term unemployed back into jobs. Read More...

No time for ‘do nothing’ budget

Updated: 11th October 2017 - First Published: 20th April 2009 The Child Poverty Action Group (CPAG) has told the Government that struggling families cannot afford a ‘do nothing’ budget. Read More...

Freeze minimum wage – BCC

Updated: 20th April 2009 - First Published: 20th April 2009 The Chancellor has been asked to freeze the minimum wage in a bid to help the private sector lead UK industry out of the recession. Read More...

Positive outlook for sterling

Updated: 17th April 2009 - First Published: 17th April 2009 Despite contraction in the UK economy and increasing government borrowing, the medium term outlook for sterling is positive, according to foreign exchange business Caxton FX. Read More...

FSB – reconnect banks and businesses

Updated: 16th April 2009 - First Published: 16th April 2009 Relationships between banks and small businesses need to be rebuilt if the economy is to recover, the Federation of Small Businesses (FSB) has said. Read More...

Base rate held at 0.5 per cent

Updated: 09th April 2009 - First Published: 09th April 2009 The Bank of England’s Monetary Policy Committee has voted to maintain interest rates at 0.5 per cent and plough on with its policy of quantitative easing. Read More...

Base rate – one month on

Updated: 02nd April 2009 - First Published: 02nd April 2009 One month on from the Bank of England’s historic decision to cut the base rate to the lowest level in 315 years, its impact on savings and mortgage rates is becoming clearer. Read More...

G20 told to learn from UK

Updated: 01st April 2009 - First Published: 01st April 2009 The world's most powerful leaders have been told that the UK's recent review of financial regulation should serve as a template for how banks could work with governments, regulators and central banks to reform the banking system. Read More...

Barclays declines Asset Protection Scheme support

Updated: 01st April 2009 - First Published: 01st April 2009 Barclays has said that it will not be participating on the Government’s Asset Protection Scheme (APS). Read More...

Britons say major economic changes needed

Updated: 01st April 2009 - First Published: 01st April 2009 The general consensus among Britons is that major changes to the international and domestic economic system are needed if the current crisis is to be overcome. Read More...

Campaign to protect tenants launched

Updated: 27th March 2009 - First Published: 27th March 2009 A campaign has been launched to protect tenants who face swift eviction as their landlords’ property is repossessed. Read More...

Keep faith in sterling – BoE governor

Updated: 25th March 2009 - First Published: 24th March 2009 The Bank of England’s Mervyn King has said that people should believe in sterling despite its recent poor performance. Read More...

Quantitative easing decision unanimous

Updated: 19th March 2009 - First Published: 18th March 2009 All nine members of the Bank of England’s Monetary Policy Committee voted in favour of the £75 billion injection of cash into the economy, according to the minutes of its March meeting. Read More...

Consumers predict interest rate rise

Updated: 12th March 2009 - First Published: 12th March 2009 A third of consumers expect interest rates to be higher in a year's time, it has been revealed. Read More...

Recession not likely to reach 1980s level

Updated: 10th March 2009 - First Published: 09th March 2009 The British Chambers of Commerce’s March 2009 Economic Forecast paints a grim picture of the UK economy but predicts that the recession will not be as severe as it became in the 1980s. Read More...

Importance of savings falling

Updated: 09th March 2009 - First Published: 09th March 2009 Consumers have been advised that they should still be looking to build up savings, despite the economic crisis that has seen interest rates drop to their lowest ever levels. Read More...

Bank of England 'running out of options'

Updated: 06th March 2009 - First Published: 06th March 2009 The Bank of England is unlikely to cut interest rates any further, it has been suggested. Read More...

Quantitative easing 'likely' in near future

Updated: 06th March 2009 - First Published: 05th March 2009 The Bank of England is likely to turn to quantitative easing in order to stimulate the economy, it has been suggested. Read More...

Bank halves base rate

Updated: 06th March 2009 - First Published: 05th March 2009 The Bank of England has announced that the official base rate of interest has been cut by a further 50 basis points. Read More...

Consumer confidence on the up

Updated: 05th March 2009 - First Published: 04th March 2009 The Nationwide Consumer Confidence Index recorded a rise last month for the first time since October last year. Despite a gloomy economic outlook, the index increased from 41 in January to 43 in February. Read More...

BSA discourages interest rate cut

Updated: 03rd March 2009 - First Published: 03rd March 2009 The Building Societies Association has said that a Bank of England decision to cut interest rates again this week would be bad news for almost everybody connected with the savings and mortgage markets. Read More...

Experts predict rate cut

Updated: 02nd March 2009 - First Published: 02nd March 2009 The Bank of England is likely to lower the base rate of interest further this week, experts have predicted. Read More...

Consumer confidence rises

Updated: 27th February 2009 - First Published: 27th February 2009 Consumer confidence has increased slightly this month, although figures are still significantly down compared to 12 months ago. Read More...

Jobseeker help revealed

Updated: 14th January 2009 - First Published: 13th January 2009 Jobseekers who find themselves unemployed for longer than six months have been guaranteed more support from the Government to help them get back into work. Read More...

Britons scrapping summer holidays

Updated: 31st October 2008 - First Published: 23rd July 2008 A quarter of British adults are shelving their holiday plans this year, with 43 per cent of them worried about the impact of the credit crunch on their finances according to a new study on holiday spending by CreditExpert.co.uk Read More...

Economy July 2006

Updated: 31st October 2008 - First Published: 11th October 2006 Latest figures from the Major British Banking Groups for June indicated that total sterling lending to the UK private sector showed a net underlying increase of £13.8bn (+1.1%) to £1,228bn. This was higher than last month’s underlying rise of £12.6bn but lower than the average of £15.2bn over the previous six months. Read More...

Inflation – Consumer prices index

Updated: 31st October 2008 - First Published: 28th June 2006 In the year to May, the Consumer Prices Index (CPI) rose to 2.2%, up from 2.0% in April. The largest upward effect came from gas and electricity bills which continued to increase by more than a year ago, reflecting the phasing in of recent tariff increases from major suppliers. Read More...

Lending to individuals

Updated: 31st October 2008 - First Published: 28th June 2006 Latest figures from the Major British Banking Groups for May indicated that total sterling lending to the UK private sector showed a net underlying increase of £12.4bn (+0.9%) to £1,212bn. This was lower than both last month's underlying rise of £16.3bn and the average over the previous six months. Read More...


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