News And Announcements
Eurozone trade narrows in January on weaker imports
The single currency bloc's shortfall on trade in goods with the rest of the world narrowed at the start of 2023, but only because imports fell more quickly than exports.
PBoC maintains loan prime rates as expected
The People's Bank of China announced on Monday that it will maintain current loan prime rates (LPR) for both one- and five-year loans, following a 0. 25 percentage point cut in the reserve requirement ratio (RRR) for nearly all banks last week.
Ofwat tightens stance on dividend policies
Water industry watchdog Ofwat will halt the payment of dividends by water company if it tests their financial resilience and take action against group's that fail to link dividend payments to performance.
UK only G7 member to see economy shrink this year, says OECD
The UK will be the only industrialised country other than Russia to see its economy shrink this year, according to projections from the Organization for Economic Cooperation and Development.
China's central bank trims reserve ratio earlier than expected
China’s central bank, the People’s Bank of China, announced on Friday that it will be cutting the reserve requirement ratio (RRR) for all banks, except those with a 5% ratio, by 25-basis points from 27 March.
Eurozone inflation eases as expected in February
Annual inflation in the eurozone eased in February but core inflation continued to rise, according to data released on Friday by Eurostat.
UK faces higher taxes, lower living standards after Budget, say think tanks
Britons face a decade of lower living standards and poorer public services while paying higher taxes, leading think tanks warned on Thursday after the government’s spring Budget.
UK avoids recession, but living standards plunge, taxes rise - OBR
Britain's economy is forecast to avoid a recession in 2023, but living standards are still set to record their biggest two-year fall in seven decades, while the tax burden also increases for millions of people, the Office for Budgetary Responsibility said on Wednesday.
UK to avoid recession as Hunt unveils 'budget for growth'
The UK will avoid a technical recession this year with inflation falling below 3%, the chancellor of the exchequer confirmed on Wednesday, as he unveiled a ‘budget for growth’.
UK's Hunt abolishes lifetime pension allowance
UK Finance Minister Jeremy Hunt said he was abolishing the lifetime pensions allowance.
NY manufacturing activity deteriorates sharply in March
Manufacturing activity in the New York region deteriorated sharply in March, according to data released on Wednesday.
China's economy shows signs of recovery
China’s economy strengthened in the first two months of 2023, official data showed on Wednesday, after the end of Covid restrictions boosted consumer spending.
UK govt u-turns to extend energy bill support scheme by 3 months
The UK government has bowed to pressure from campaigners and u-turned on plans to axe support for household energy bills as another price rise in April threatened to put some families into poverty.
Asda's purchase of Co-op petrol stations raises CMA concerns
The merger between Asda and the Co-op’s petrol stations and attached grocery stores could lead to higher prices for motorists and shoppers, the Competition and Markets Authority (CMA) announced on Tuesday.
UK unemployment rate stable, wage growth slows
The UK unemployment rate was steady in the three months to January, while wage growth slowed for the first time in more than a year, according to data released on Tuesday by the Office for National Statistics.
First Republic plunges in SVB fallout despite fresh funding
Shares in First Republic Bank were plummeting in early trading on Wall Street on Monday, despite the bank securing a fresh injection of funding over the weekend.
UK retail footfall drops amid extreme weather
Retail experts MRI Springboard revealed on Monday that wild weather last week had heavily impacted high street retailers, leading to a drop in weekly footfall.
Gilt yields drop as investors rush to safety
Gilt yields slid on Monday, with investors rushing to safety as the collapse of Silicon Valley Bank continued to rattle markets.
Strong demand helps boost hight street sales
High street sales jumped last week, research showed on Friday, despite the cost of living crisis continuing to weigh heavily on the UK.
German inflation stabilises in February
German inflation was unchanged last month, official data showed on Friday, with both energy and food prices remaining high.