The U.K. economy grew at a lackluster pace of 0.1% in November, data from the Office of National Statistics showed Thursday.
The Bank of England will cut interest rates four times this year to support a flat-lining economy, economists polled by Reuters said, but they added that risks to inflation are to the upside, suggesting policymakers may end up doing less.
Alan Taylor, the most recently appointed member of the Bank's monetary policy committee (MPC) said the UK is 'in the last half mile on inflation' and called for a pre-emptive cut
Tumbling retail sales are set to pile more pressure on Andrew Bailey and his colleagues at the Bank of England to cut interest rates further and faster...
LONDON (Reuters) - British inflation unexpectedly slowed last month and core measures of price growth - tracked by the Bank of England - fell more sharply, according to official data that will be welcomed by finance minister Rachel Reeves after recent a market selloff.
The Bank of England's Monetary Policy Committee (MPC) uses interest rates to put a brake on the nation's spending.
The fall in the headline rate of inflation from 2.6 percent to 2.5 percent was unexpected and positive news for the Chancellor Rachel Reeves.
Newest policy-committee member recommends taking out ‘a little insurance’ amid signs of weakening demand in a fragile economy.
The Bank of England should move quickly to bring down interest rates given signs of a slowdown in Britain's economy, Alan Taylor, the BoE's most recently appointed interest rate setter, said on Wednesday.
The Bank of England kept interest rates unchanged in its December meeting. However, three monetary policy committee members voted to cut rates by 25 basis
The Bank of England looks set to resume cutting interest rates next month after official data revealed weaker inflation and anaemic economic growth.