Bank of England raises interest rates to highest level since 2009
The Bank of England has raised the interest rates for only the second time in a decade. The increase was from 0.5% to 0.75%. The quarter of a percentage point rise sets the rate at its highest level since March 2009. The rise in the interest rate will no doubt...
SMEs ‘confident in regard to growth prospects’, survey finds
Wesleyan Bank carried out a survey that showed that UK SMEs are confident about their future growth prospects with almost two-thirds anticipating a growth of up to 40% over the next few years. The ‘SME Heroes or Zeros’ report explained that the survey was carried out...
Pound Drops Below $1.30 as June Retail Sales Fall
There has been a surprising fall in the pound after a decrease in retail sales in June. Although the Office for National Statistics expected there to be a 0.2% rise in sales after May, it was reported that sales fell by 0.5%. This resulted in sterling being down...
UK set for weakest growth since 2009
The lack of progress on the UK’s trade and investment negotiations with the EU has led ICAEW to slash its 2018 GDP growth forecast for the UK from 1.7% to 1.3% It says that the economy is likely to experience its weakest growth since 2009 on the back of weak output in...
