LONDON — The British pound has jumped to its highest level in two-and-a-half years following a hawkish rate hold from the Bank of England, but strategists warn the upcoming U.K. budget could pose a risk to investor and consumer sentiment. Many investors are awaiting the new Labour government’s fiscal plan at the end of October … Read more
LONDON — With sterling as one of the best performing major currencies so far this year, analysts at various investment banks believe that the British pound still has more room to run, despite the Bank of England likely cutting interest rates in the near term. In a recent research note, experts at Goldman Sachs were … Read more
The Bank of England in the City of London. Mike Kemp | In Pictures | Getty Images LONDON — Inflation in the U.K. may have come in directly on the Bank of England’s 2% target in the last two readings, but that still may not have given the central bank enough confidence to reduce interest … Read more
British Prime Minister Liz Truss attends a news conference in London, Britain, October 14, 2022. Daniel Leal | Reuters LONDON — The new U.K. government is on Thursday set to propose legislation to prevent “significant uncosted measures” from being announced without an analysis of their impact on public finances. The Labour government, which took power … Read more
LONDON — The British pound on Wednesday broke above the $1.3 level against the U.S. dollar for the first time in a year, as investors bank on a coming period of growth-friendly policies and political stability under the newly elected Labour government. Sterling was 0.49% higher at $1.3027 at 9:55 a.m. in London (4:55 a.m. … Read more
General view of Bishopsgate in the City of London, the capital’s financial district. The UK economy has reportedly seen faster growth than initially estimated in early 2024. Vuk Valcic | Sopa Images | Lightrocket | Getty Images The U.K.’s Labour Party won big in Thursday’s election and is now set to take over from the … Read more
Labour leader Tony Blair arriving in Downing Street after his election victory with crowds waving flags in the background, 2nd May 1997. Jeff Overs | BBC News & Current Affairs | Getty Images LONDON — The U.K. is less than six weeks away from a General Election in which polls suggest the center-left Labour Party … Read more
Inflation in the U.K. eased to 3.2% from 3.4% in March, the Office for National Statistics said on Wednesday, but a set of higher-than-expected figures spurred investors to push back bets on the timing of the first Bank of England rate cut. Economists polled by Reuters had expected a reading of 3.1%. Food prices provided … Read more
People shelters from the rain beneath a Union flag-themed umbrella as they walk past spring flowers in blossom, in St James’s Park in central London on April 10, 2024. Justin Tallis | Afp | Getty Images LONDON — U.K. gross domestic product rose 0.1% in February, the Office for National Statistics said on Friday, providing … Read more
People walk along Waterloo Bridge past the City of London skyline, the capital’s financial district, on a sunny and mild day. Sopa Images | Lightrocket | Getty Images LONDON — U.K. gross domestic product grew 0.2% in January, the Office for National Statistics said Wednesday, as construction output jumped unexpectedly. The headline figure was in … Read more
