UK GDP Growth Slows As Estimated

Bank Of England Holds Rate Steady At 3.75%

The Bank of England left its key interest rate unchanged on Thursday amid limited evidence of second-round effects but further increase in energy prices raises the prospect of a hike in November. The Monetary Policy Committee, led by Governor Andrew Bailey, voted 6-3 to maintain the bank rate at 3.75 percent, the lowest rate since June 2023. The move was in line with economists' expectations.

RTTNews | 16h 51min ago

UK Inflation Accelerates To 5-Month High

UK consumer price inflation rose to a five-month high in August on renewed increase in fuel prices but the Bank of England is widely expected to hold the interest rate as energy shocks show no sign of broadening. Inflation advanced to 3.1 percent from 2.9 percent in July, the Office for National Statistics said Wednesday. The rate came in line with expectations.

RTTNews | 1 day ago

UK Jobless Rate Remains Unchanged; Wage Growth Cools

The UK unemployment rate remained unchanged and wage growth eased in the three months to July period, reflecting the softening labor market conditions, data from the Office for National Statistics revealed Tuesday. The unemployment rate 4.9 percent in the three months to July, the same rate as in the quarter ended June. The rate was forecast to rise to 5.0 percent.

RTTNews | 2 days ago

UK Economy Expands Unexpectedly

The UK economy expanded unexpectedly in July as artificial intelligence and cloud computing boosted services output, official data revealed Friday. Gross domestic product posted a monthly growth of 0.4 percent, following an increase of 0.3 percent in June and no growth in May, the Office for National Statistics reported. GDP was expected to remain flat in July.

RTTNews | 6 days ago

UK House Prices Fall For First Time Since 2023

UK house prices declined for the first time since late 2023 in August, data published by Lloyds Banking Group showed Monday. House prices dropped 0.4 percent on an annual basis in July, marking the first decrease since November 2023. The drop followed a marginal 0.1 percent rise in July.

RTTNews | 10 days ago

UK Mortgage Approvals Lowest Since 2024

UK mortgage approvals declined to the lowest since early 2024, while consumer credit reached its highest level since late 2025, the Bank of England said Tuesday. The number of mortgages approved in July declined unexpectedly to 56,053 from 58,215 in June. This was the lowest since January 2024.

RTTNews | 16 days ago

UK House Price Growth Accelerates

UK house price growth accelerated in August despite economic uncertainties, data from the Nationwide Building Society showed Tuesday. House prices grew 1.6 percent on a yearly basis, faster than the 1.4 percent rise in July but weaker than economists' forecast of 2.0 percent. Month-on-month, house prices gained 0.2 percent, in contrast to the 0.1 percent fall in July.

RTTNews | 16 days ago

U.K. Inflation Rises On Household Energy Bills

U.K. consumer price inflation accelerated in July as the Middle East crisis stoked household energy prices, official data showed Wednesday. The consumer price index posted an annual growth of 2.9 percent in July, faster than the 2.6 percent rise in June, the Office for National Statistics said. This was the highest in four months and matched economists' expectations.

RTTNews | 29 days ago

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