Tide is turning in MPC
Two out of the nine members of the Bank of England’s Monetary Policy Committee (MPC) voted to raise interest rates in August, the first time in three years that policymakers have not been unanimous in keeping the rate as it is.Continue reading
Half million pound houses
Official figures released yesterday (19 August) show that annual house price inflation was 10.2 per cent in June, down slightly from May’s 10.4 per cent but still in double figures and mainly so high because of prices in London, where the value of property increased by 19.3 per cent over the year.Continue reading
Unexpected fall in inflation rate
The rate of inflation in the UK fell more than expected in July, as the cost of clothing, footwear, food and non-alcoholic drinks eased, according to figures released today (August 19) by the Office for National Statistics (ONS).Continue reading
Local players’ role in Rugby World Cup win
Two star players from Darlington Mowden Park R.F.C – the local side sponsored by Baines Jewitt – have helped England to a historic victory at the Women’s Rugby World Cup.Continue reading
Bank may not wait for actual wages growth
According to a recent newspaper interview, Bank of England Governor, Mark Carney, may not necessarily wait for real wages to increase before raising interest rates, focusing instead on the underlying wages trend.Continue reading
Economic Growth Revised Up
The UK economy grew by even more than expected in the second quarter and its yearly pace of expansion was revised up to 3.2 per cent, its best performance in more than six years.Continue reading
Unemployment falls again
The unemployment rate fell to 6.4 per cent in the three months to the end of June, with the number of people out of work falling by 132,000 to 2.08 million, the lowest since late 2008, according to the Office for National Statistics (ONS). Continue reading
Bank halves average wage growth forecast
Bank of England Governor Mark Carney announced today (13 August) that the Bank is halving its forecast for average wage growth, saying it now expects average salaries to rise by only 1.25 per cent this year. Continue reading
Self-employment central
The UK has been dubbed the ‘self-employment capital’ of Western Europe after an increase in the number of people working for themselves, according to a new report from the Institute for Public Policy Research (IPPR). Continue reading
Finding the right partner
Small and medium-sized enterprises (SMEs) that are rejected for bank funding are to be offered access to an “SME dating agency” that will connect them with independent, non-bank lenders who are willing to back them, according to a Government report. Continue reading
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