UK economy overview

 

Interest rates - Official Bank Rate

Current bank rates 0.25%
Quantative easing £435bn Total asset purchase. £10b corporate bond purchases and £435bn of UK government bond purchases.
Last decision May 2017. Maintain, unanimously
Next decision June 2017
Last moved August '16 (-0.25%) and (-0.5%) on March '09

 

Overview of minutes: See MPC Minutes on the Bank of England Website here 
More information: For further general information go to the official Bank of England website at www.bankofengland.co.uk

UK Inflation

CPI inflation 2.9% in year to May 2017 
Government CPI target 2.0%
Upward factors Housing & clothing 0.6%, transport 0.54%, o/o housing costs 0.42% 
Downward factors Food & alchohol (0.24%). 
House Price Inflation 5.8% (12 months to February 2017)  
   

For more UK inflation information go to the ONS website here.

GDP 

Q1 2017 0.2% (Q1 2017)
Upward pressure Business services and finance continued to grow strongly.
Downward pressure Retail abd accommodation fell and household spending slowed. Partly due to rising prices.
2016 GDP 1.8% higher than 2015. 
Note Due. 
   

www.statistics.gov.uk

Retail Sales

Retail sales  (-1.4%). The first quarterly decline since Q4 2013.
Online sales Online sales increased year on year by 19.5% and 0.5% on the month. Accounting for 15.5% of all retail spending.
 
 

 

 

 

 

Source: Office for National Statistics - retail sales

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