News And Announcements
UK mortgage approvals hit 22-month high as lending rises
Approvals and borrowing for mortgages in the UK rose to their highest levels in nearly two years in July, according to data from the Bank of England on Friday.
UK house prices unexpectedly dip in August - Nationwide
UK house prices unexpectedly dipped on the month in August, but rose at their fastest annual pace since December 2022, according to figures released by Nationwide on Friday.
Retail footfall resilient in August despite riot disruption
Retail footfall across the UK experienced a slight decline of 0. 4% year-on-year in August, according to fresh BRC-Sensormatic IQ data released on Friday morning.
UK car production slumps in July as changeovers and supply chain woes weigh
UK car production slumped 14. 4% in July, according to the Society of Motor Manufacturers and Traders, with a total of 65,478 vehicles rolling off factory lines last month as model changeovers and temporary supply chain bottlenecks disrupted output.
UK house prices rise 1.4pc in July
UK house prices bounced back in July following a drop in June, according to property website operator Zoopla, aided by a continued jump in demand and increased home stock.
German consumer sentiment to deteriorate in September - GfK
German consumer sentiment is expected to deteriorate sharply in September, according to a survey released on Tuesday by GfK and the Nuremberg Institute for Market Decisions (NIM).
Shop prices fall for the first time since late 2021
Shop prices in the UK in August experienced deflation for the first time since October 2021, according to fresh data released on Tuesday, with a decrease of 0. 3%.
Ofwat confirms Thames Water actions after firm's credit downgrade
Water regulator Ofwat confirmed the immediate implementation of new measures on Friday, to address Thames Water's recent loss of its investment-grade credit ratings.
UK household energy bills to rise 10pc in October
UK household energy bills will rise by £149 in October as part of industry watchdog Ofgem's new price cap.
UK consumer confidence holds steady, but personal finance expectations
Consumer confidence in the UK remained stable in August, according to a closely watched GfK survey, as improving sentiment towards personal finances was offset by the first fall in economic expectations in six months.
Boston Fed president Collins signals her support for rate cuts
Boston Federal Reserve president Susan Collins suggested on Thursday that it would soon be appropriate for the Fed to initiate a cycle of interest rate cuts, indicating her likely support for a rate reduction at the central bank’s upcoming policy meeting.
UK private sector activity hits four-month high
Activity in the UK’s private sector hit a four-month high in August, according to a survey released on Thursday.
FCA tells insurers to better ensure they deliver consumer value
The Financial Conduct Authority (FCA) issued a warning to insurers and brokers on Wednesday, urging them to ensure that their products provided fair value and good outcomes for customers.
CMA cans Apple, Google app market probes ahead of new regulation
The Competition and Markets Authority (CMA) has closed its investigations into Google’s Play Store and Apple’s App Store, it announced on Wednesday, shifting its focus to the forthcoming digital markets competition regime.
China launches probe into EU dairy subsidies
China launched an anti-subsidy investigation into dairy products imported from the European Union on Wednesday, intensifying trade tensions between Beijing and Brussels.
UK borrowing higher than expected in July
Government borrowing was higher than expected in July, according to figures released on Wednesday by the Office for National Statistics.
Gold prices hit fresh highs amid US rate cut expectations
Gold prices hit a new all-time high on Tuesday amid growing expectations of US rate cuts in September and after the People’s Bank of China issued new import quotas.
Sweden’s Riksbank cuts rates by 25 basis points
Sweden’s Riksbank cut its benchmark rate by 25 basis points on Tuesday to 3. 5%, as widely expected.
New buyer numbers surge after Bank Rate cut, says Rightmove
This month's interest rate cut has provided a much-needed catalyst to the UK housing market, with the number of buyers rising by nearly a fifth, according to Rightmove.
BoE appoints Alan Taylor as new rate setter
The Bank of England announced on Friday that it has appointed Professor Alan Taylor as member of the Monetary Policy Committee, replacing Jonathan Haskel.