Irina Anghel

Bank of England Governor Andrew Bailey said government controls on food prices are not sustainable in the long run, after reports that the UK Treasury asked supermarkets to cap the cost of essential products.

British businesses posted the first decline in output in over a year as the Iran shock and a mounting rebellion against Prime Minister Keir Starmer hit activity in the services sector, a survey showed.

Net migration to the UK fell below 200,000 people in 2025 for the first time since the pandemic, providing a boost for Prime Minister Keir Starmer as he tries to win back supporters from the right-wing Reform UK party.

Only the most pessimistic Iran scenario clearly justifies raising interest rates, according to Bank of England policymaker Alan Taylor, who warned that the UK faces a higher recession risk because of the conflict.

Confidence among the lowest-earning Britons plunged in May and even those on average pay are digging into savings to meet everyday expenses as the Iran energy shock hits household budgets, a key survey found.

UK retail sales fell at the fastest pace in nearly a year as consumers pulled back spending amid the global energy shock from war in Iran.

Chancellor of the Exchequer Rachel Reeves’ plans to help families cope with the cost of living this summer could also help the Bank of England, according to Bloomberg economists.

(Bloomberg) -- The implications of artificial intelligence gripped global central bankers in Iceland this week, with one Federal Reserve official joking that it won't put economists out of business.

UK mortgage approvals unexpectedly rose in April as the housing market displayed continued resilience to the fallout from the Iran war.

Bank of England Governor Andrew Bailey warned the UK economy faces a worrying combination of an aging population and rapidly rising levels of young people out of work and education.