Lucy White

Bank of England Chief Economist Huw Pill admitted he should have been more careful with his language after he faced criticism for telling households they “need to accept” they are poorer and “we all have to take our share” of the cost-of-living crisis.

England and Wales recorded fewer insolvencies in April than a year earlier, indicating the number of failing businesses may be starting to stabilize.

Bank of England Governor Andrew Bailey said he was “unwavering” in his commitment to the UK’s 2% inflation target, as he warned that higher food prices and a tight labor market could cause the cost-of-living crunch to persist.

ECB Inflation Task Requires Restrictive Rates, Schnabel Says

Soaring arrivals into the UK are laying bare splits in the ruling Conservative Party and highlight the economy’s urgent demand for new workers

Bank of England Governor Andrew Bailey said inflation is taking longer to come down in the UK and remains more sticky than officials had expected, but that the shock figures reported earlier Wednesday don’t mark an upward “spiral.”

UK retailers saw sales jump more than expected last month, recovering from heavy rain that kept people home the month before.

Britain’s pandemic-era “excess savings” are still fueling inflation, said Bank of England policy maker Catherine Mann.

UK house prices resumed their decline, with Nationwide Building Society warning that headwinds for property sellers are increasing.

The UK is headed for a “mild recession” this year as higher-than-expected inflation and rising interest rates take their toll on household finances, according to Moody’s.